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Our Q2 2012 Dubai Real Estate Market Overview shows a widening gap between the performance of the Prime (best projects) in each sector and the rest of the market. The hotel, residential and retail sectors continue to see improved performance in selected projects, but this improvement is not yet being experienced across the broader market. The office sector is lagging behind, while rents and occupancies have stabilised in Prime projects, they continue to decline in secondary projects in the face of excess supply.
The Dubai economy has continued to grow during the first half of 2012 despite the recent decline in oil prices and uncertainties about the pace of global growth in face of the widely publicised issues in the Eurozone. While investor sentiment towards Dubai real estate continues to improve, with increased sales of individual residential properties, there remain few major investment transactions due to the lack of quality stock being offered to the market at prices investors feel are attractive.