Q Dubai Real Estate Market Overview

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Q3 2014. Dubai Real Estate Market Overview"

Transcription

1 Q Dubai Real Estate Market Overview

2 Dubai Market Summary The Dubai real estate market saw a welcome levelling-off during the summer months. The broad based recovery witnessed in the residential sector over the past 18 months has now slowed down, as rental prices and sale values have stabilized in most locations. While new project s continue to be announced, these have no immediate impact on supply as they are phased over a longer timeframe. Although the hotel sector underperformed over the month of July, registering 50% occupancy rates, it is expected to trend upwards into the peak season in the last quarter of the year. Elsewhere in the market, the retail segment maintained its solid growth while the recovery of the office sector remains patchy, as high levels of supply continue to constrain the market. Dubai Prime Rental Clock Q Rental Growth Slowing Rents Falling Rental Growth Accelerating Rents Bottoming Out Hotel* Residential Retail Office Q Residential Rental Growth Slowing Rents Falling Hotel* Rental Growth Accelerating Rents Bottoming Out Retail Office * Hotel clock reflects the movement of RevPAR Note: The property clock is a graphical tool developed by JLL to illustrate where a market sits within its individual rental cycle. These positions are not necessarily representative of investment or development market prospects. It is important to recognise that markets move at different speeds depending on their maturity, size and economic conditions. Markets will not always move in a clockwise direction, they might move backwards or remain at the same point in their cycle for extended periods. Source: JLL

3 Dubai Office Market Overview Market Summary The third quarter of 2014 continued to see a two-tier office market. While prime CBD rents have remained stable over the quarter, they are expected to increase as demand remains strong for Grade A office space. Meanwhile, rents in secondary locations are expected to remain under downward pressure as more Grade A office space enters the market by On the demand side, corporates are becoming increasingly aware of the importance of sustainability and there is heightened interest for LEED certified buildings. As traffic congestion increases, tenants and therefore owners are also paying more attention to access and parking issues. Hot Topics A number of local and international companies looking for headquarters in Dubai are going for build-to-suit options. While Habib Bank AG Zurich on Sheikh Zayed Road is one example, others remain in the market on the look out for suitable land plots. As occupancy rates in the core DIFC buildings (e.g. The Gate) remain high, we see a spill over in demand to other non-difc managed buildings in the precinct (e.g. Index Tower/Burj Daman). These offer rents 25%-35% lower than the DIFC buildings and are of Grade A quality. Office Supply Current Supply ( ) Future Supply ( ) 6.3M 6.9M 7.3M 7.4M 0.4M 0.6M 0.5M Q Q Office Performance CBD Vacancy Rate Prime CBD Rents (per sq m) 30% 24% Q Q AED 1,830 1,860 Q Q3 2014

4 Dubai Residential Market Overview Market Summary While property values in Dubai have increased over the past year, the third quarter saw more subdued growth levels in both apartment & villa sale prices & rents. Average rents & sale prices grew by just 2% & 1% respectively in Q3 (down from 3% & 6% in Q2). Driven by tighter government regulations and an increasing mismatch between buyer and seller expectations, the residential sector is now experiencing a welcomed period of stability. As the various new project announcements will have no immediate effect on supply, we expect rents & prices to remain relatively stable over the remainder of 2014, with the market behaving in a more sustainable and healthy manner. Hot Topics As existing communities become fully established, developers are looking at alternative locations for their new projects (e.g. Tecom have announced Lantana Villas in Umm Suqeim / Jersey Properties launched the first freehold property project in Mirdif; Mirdif Tulip). There is a shift in developer attitudes towards the off-plan sales market. Developers are seeking to attract more end-users by introducing flexible payment terms, with a higher proportion of the final price payable due after handover. Residential Supply Current Supply ( ) Future Supply ( ) 342K 356K 366K 373K 9K 22K 11K Q Q Residential Performance Dubai Residential Property Rent and Sale Indices Apartment residential Sales 1% Rentals 2% Villa residential Sales 3% Rentals 0% Q-o-Q Q-o-Q Sales 34% Rentals 24% Sales 20% Rentals 9% Source : REIDIN Y-o-Y Source : REIDIN Y-o-Y

5 Dubai Retail Market Overview Market Summary The Dubai retail market has witnessed the completion of two projects in the third quarter of The Discovery Gardens (8,700 sq m) and Jumeirah Park (10,600 sq m) Community Centers have increased the total retail stock to 2.9 million sq m. While size still matters (Mall of the World), some developers are shifting their focus to community & neighborhood centers that capture the attention of residents, and generate additional recurring revenues as opposed to cyclical residential sales. Three such malls are scheduled for completion over the last quarter of the year. Hot Topics The Road and Transport Authority (RTA) has appointed JLL to lease and manage 10,000 sq m of retail space at the Red and Green line metro stations. In 2013, the metro attracted on average almost 450,000 passengers a day and is expected to draw in additional retail revenues for Dubai. While the majority of supply in the residential sector is expected to enter the pipeline in 2017 and beyond, the retail market will witness more stock over the next two years. Retail Supply Current Supply ( ) Future Supply ( ) 2.7M 2.8M 2.9M 2.9M 20K 256K 396K Q Q Retail Performance Vacancy Rate Super Regional Malls Average Retail Rents (per sq m) Super Regional Malls 13% 8% Q Q AED Primary 5,000 Q Secondary 1,725 Q ,700 Q ,400 Q3 2014

6 Dubai Hotel Market Overview Market Summary Year to August saw occupancy rates and average daily room rates remain largely unchanged Y-o-Y. On the supply side, the third quarter of 2014 saw the opening of the Warwick Hotel on Sheikh Zayed Road and Doubletree by Hilton JBR, increasing the current hotel stock to 62,800. While the remaining three months of the year are expected to witness some openings, the sector is likely to maintain its strong performance as Dubai continues to position itself as a leading tourist destination. Hot Topics While the bulk of the supply pipeline is currently positioned in the upscale segment, initiatives to promote and facilitate development of midscale hotels are being undertaken by the tourism authorities. Following the sale of the Movenpick JBR earlier in 2014, in the coming years we can expect to see more high-profile hotel transactions as a result the result of a more transparent and sophisticated market. Hotel Supply Current Supply ( ) Future Supply ( ) 53,400 57,000 60,150 62,800 2,400 2,800 6,000 7, Q Q Hotel Performance Occupancy Rate 79% 78% YT Aug 2013 YT Aug 2014 USD Average Daily Rate YT Aug 2013 YT Aug 2014 Source : STR Global Source : STR Global

7 Definitions and methodology Interpretation of market positions: 6 o clock indicates a turning point towards rental growth. At this position, we believe the market has reached its lowest point and the next movement in rents is likely to be upwards. 9 o clock indicates the market has reached the rental growth peak, while rents may continue to increase over coming quarters the market is heading towards a period of rental stabilisation. 12 o clock Indicates a turning point towards a market consolidation / slowdown. At this position, the market has no further rental growth potential left in the current cycle, with the next move likely to be downwards. 3 o clock Indicates the market has reached its point of fastest decline. While rents may continue to decline for some time, the rate of decrease is expected to slow as the market moves towards a period of rental stabilisation. The supply and stock data is based on our quarterly survey of 53 sub markets, starting from This data excludes labour accommodation and local Emirati housing supply. Completed buildings refer to those handed over for immediate occupation. Future supply is based on projects in the announced and under construction phases. Residential performance data is based on the REIDIN monthly index. REIDIN Dubai Residential Property Price Indices (RPPIs) use monthly sample of offered/asked listing price data and land registry price data (transaction data). Index series are set at 100 starting at the beginning of each data set. The supply data is based on our quarterly survey of 32 sub-markets, starting from Completed buildings refer to those handed over for immediate occupation. Future supply is based on projects in the announced and under construction phases. Central Business District includes DIFC, DTCD, Sheikh Zayed Road, Burj Khalifa Downtown. Prime Office Rent represents the top open-market net rent (exclusive of service charge) for a new lease that could be expected for a notional office unit of the highest quality and specification in the best location in a market, as at the survey date. Data relates to headline rents, exclusive of incentives. Vacancy rate is based on estimates from the JLL Agency team, and represents the average rate across a basket of buildings in the CBD. Classification of Retail Centres is based upon the ULI definition and based on their GLA: Super Regional Malls have a GLA of above 90,000 sq m Regional Malls have a GLA of 30,000-90,000 sq m Community Malls have a GLA of 10,000-30,000 sq m Neighbourhood Malls have a GLA of 3,000-10,000 sq m Convenience Malls have a GLA of less than 3,000 sq m The supply data is based on our quarterly survey of 45 sub-markets, starting from Future supply is based on projects in the announced and under construction phases. Malls are categorized based on their turnover levels. Primary Malls are the good performing malls with high levels of turnover. Secondary Malls are the average performing malls with lower levels of turnover. Prime Rent Shopping Centre represents the top open market net rent expected for a standard in line unit shop of 100 sq m at super regional malls.. Vacancy rate is based on estimates from the JLL Retail team, and represents the average rate across standard in line unit shops at super regional malls. Hotel room supply is based on existing supply figures provided by DTCM as well as future hotel development data tracked by JLL Hotels. Room supply includes all graded supply and excludes serviced apartments. STR performance data is based on a monthly survey conducted by STR Global on a sample of more than 32,000 rooms across Dubai.

8 Dubai Emaar Square Building 1, Office 403 Sheikh Zayed Road PO Box Dubai, UAE Tel: Fax: For questions and inquires about the Dubai real estate market, please contact: Dana Williamson Head of Agency MENA Andrew Williamson Head of Retail MENA Chiheb Ben-Mahmoud Head of Hotels & Hospitality MEA Craig Plumb Head of Research MENA Dana Salbak Senior Research Analyst youtube.com/joneslanglasalle linkedin.com/companies/jll joneslanglasalleblog.com/emearesearch jll-mena.com This publication is the sole property of Jones Lang LaSalle IP, Inc. and must not be copied, reproduced or transmitted in any form or by any means, either in whole or in part, without the prior written consent of JLL IP, Inc. The information contained in this publication has been obtained from sources generally regarded to be reliable. However, no representation is made, or warranty given, in respect of the accuracy of this information. We would like to be informed of any inaccuracies so that we may correct them. JLL does not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this publication.

Q2 2015. Dubai Real Estate Market Overview

Q2 2015. Dubai Real Estate Market Overview Q2 2015 Dubai Real Estate Market Overview Dubai Market Summary Dubai s real estate market saw little change in the second quarter, with the slowdown in performance across all asset classes continuing,

More information

Q3 2014. Cairo Real Estate Market Overview

Q3 2014. Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary The third quarter of 2014 saw further political stability as the regime proceeded with implementing its roadmap. Following the reduction of energy

More information

Q3 2015. Cairo Real Estate Market Overview

Q3 2015. Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary All sectors of the Cairo real estate market exhibited positive performance and improved sentiment during, with the office market signaling the most

More information

Q2 2014. Cairo Real Estate Market Overview

Q2 2014. Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary The election of President El-Sisi with a huge majority and relatively little active opposition marks the next stage towards a return of political

More information

Q Cairo Real Estate Market Overview

Q Cairo Real Estate Market Overview Cairo Real Estate Market Overview Cairo Market Summary All sectors of the Cairo real estate market have witnessed positive performance and improved sentiment during. This improvement largely resulted from

More information

Q Abu Dhabi Real Estate Market Overview

Q Abu Dhabi Real Estate Market Overview Abu Dhabi Real Estate Market Overview Abu Dhabi Market Summary The third quarter of 2014 recorded the continued growth of prices in the residential market, with more limited improvement in the hospitality,

More information

DUBAI REAL ESTATE MARKET OVERVIEW

DUBAI REAL ESTATE MARKET OVERVIEW DUBAI REAL ESTATE MARKET OVERVIEW Q2 2016 DUBAI The vote for Britain's exit of the European Union (Brexit) is the compelling story for the quarter. It raises numerous questions regarding its potential

More information

MENA Office Markets. and their impact on CRE function. Craig Plumb Head of Research, MENA April 2013

MENA Office Markets. and their impact on CRE function. Craig Plumb Head of Research, MENA April 2013 MENA Office Markets and their impact on CRE function Craig Plumb Head of Research, MENA April 2013 Agenda 01 02 03 04 05 06 Regional Office Markets Dubai Market Update Summary of other MENA Markets Importance

More information

CAIRO REAL ESTATE MARKET OVERVIEW

CAIRO REAL ESTATE MARKET OVERVIEW CAIRO REAL ESTATE MARKET OVERVIEW Q2 2016 CAIRO Currency instability and devaluation are still having an influence across all real estate sectors. On March 2016, the Ce ntral Bank announced a devaluation

More information

Middle East Real Estate Predictions: Dubai 2015. #RealEstatePredictions

Middle East Real Estate Predictions: Dubai 2015. #RealEstatePredictions Middle East Real Estate Predictions: Dubai 215 #RealEstatePredictions 2 Middle East Real Estate Predictions: Dubai 215 Introduction Welcome to the first edition of Deloitte s Middle East Real Estate Predictions,

More information

Global Real Estate Outlook

Global Real Estate Outlook Global Real Estate Outlook August 2014 The Hierarchy of Economic Performance, 2014-2015 China Indonesia India Poland South Korea Turkey Australia Mexico United Kingdom Sweden United States Canada South

More information

Dubai Real Estate Market Overview

Dubai Real Estate Market Overview Dubai Real Estate Market Overview Q3 2013 Macroeconomic overview Indicator 2011 2012 2013 (f) United Arab Emirates Population (millions) 8.9 9.2 9.3 Real GDP Growth (Y-o-Y) 3.9% 4.4% 3.7% Consumer Price

More information

European office sector recovery continuing Divergence in speed and strength remains

European office sector recovery continuing Divergence in speed and strength remains The Jones Lang LaSalle Office Property Clock Q3 2013 European office sector recovery continuing Divergence in speed and strength remains European Office Rental Index decreases q-o-q Aggregate European

More information

Survey Analysis. 2014 MENA Investor Sentiment Survey

Survey Analysis. 2014 MENA Investor Sentiment Survey Survey Analysis 2014 MENA Investor Sentiment Survey Join the discussion on Twitter @JLLMENA KEY FINDINGS AN INITIAL WORD Welcome to JLL s 9 th Real Estate Investor Sentiment Survey. INVESTOR INTENTIONS

More information

European office rental struggle amidst subdued demand

European office rental struggle amidst subdued demand The Jones Lang LaSalle Office Property Clock - Q2 2012 European office rental struggle amidst subdued demand The European rental index records a second successive modest fall (-0.2%) The European vacancy

More information

Briefing Office sector November 2014

Briefing Office sector November 2014 Savills World Research Beijing Briefing Office sector November 2014 SUMMARY Image: CBD area, Chaoyang district City-wide vacancy rates hovered at the lowest level in China despite the market receiving

More information

European office market recovery continues but at varying speeds

European office market recovery continues but at varying speeds The Jones Lang LaSalle Office Property Clock Q2 2013 European office market recovery continues but at varying speeds European Prime Office Rental Index continues upward trend Aggregate European leasing

More information

Hanoi Quarterly Report

Hanoi Quarterly Report Market Insights from CBRE s Hanoi Quarterly Report Presented by: CBRE RESEARCH & CONSULTANCY Richard Leech Executive Director Thanh Tran Senior Manager CB Richard Ellis (Vietnam) Co., Ltd. October 13 th

More information

Sofia City Report H2 2014

Sofia City Report H2 2014 Sofia City Report H2 2014 BG H2 Sofia City Report H2 2014 Economy/Investment Economy During the third quarter of 2014, GDP contracted by 0.4%, causing a modest growth of 1.5% for the entire year, expressing

More information

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis

Current Issues Note 27 Central London office market through the recession By Yeukai Muchenje and Nick Ennis Current Issues Note 27 By Yeukai Muchenje and Nick Ennis copyright Greater London Authority November 2010 Published by Greater London Authority City Hall The Queen s Walk London SE1 2AA www.london.gov.uk

More information

Market Commentary Canberra Office

Market Commentary Canberra Office Market Commentary Canberra Office November 2015 Executive Summary A further strengthening in the Canberra office market has been recorded over 3Q15 with a total of 9,300 sqm of positive net absorption.

More information

RESEARCH UAE REAL ESTATE 2016 MID-YEAR MARKET REVIEW ABU DHABI & DUBAI REAL ESTATE SECTOR REVIEW

RESEARCH UAE REAL ESTATE 2016 MID-YEAR MARKET REVIEW ABU DHABI & DUBAI REAL ESTATE SECTOR REVIEW UAE REAL ESTATE 216 MID-YEAR MARKET REVIEW ABU DHABI & DUBAI REAL ESTATE SECTOR REVIEW UAE REAL ESTATE 216 MID-YEAR MARKET REVIEW OVERVIEW What s happening on the global and local macro level? In its World

More information

RESEARCH DUBAI REAL ESTATE INVESTMENT REPORT INVESTMENT SENTIMENT YIELD PERFORMANCE INTERNATIONAL TARGET MARKETS

RESEARCH DUBAI REAL ESTATE INVESTMENT REPORT INVESTMENT SENTIMENT YIELD PERFORMANCE INTERNATIONAL TARGET MARKETS RESEARCH DUBAI REAL ESTATE INVESTMENT REPORT 21 INVESTMENT SENTIMENT YIELD PERFORMANCE INTERNATIONAL TARGET MARKETS UAE ECONOMIC PERFORMANCE AND DUBAI REAL ESTATE INVESTMENT OVERVIEW Survey data pointed

More information

DUBAI HOUSE PRICE INDEX REPORT FIRST QUARTER 2013. Accelerating success.

DUBAI HOUSE PRICE INDEX REPORT FIRST QUARTER 2013. Accelerating success. DUBAI HOUSE PRICE INDEX REPORT FIRST QUARTER 13 Accelerating success. HOUSE PRICE INDEX Q1 13 DUBAI TABLE OF CONTENTS Executive Summary 3 Dubai Overall House Price Index 4 Alternative Analysis 6 Apartment

More information

4. Oman Real Estate Market Trends and Developments By Residential, Office, Retail, Hotel Projected Supply,

4. Oman Real Estate Market Trends and Developments By Residential, Office, Retail, Hotel Projected Supply, 1 TABLE OF CONTENTS 1. Oman Real Estate Market Introduction 2. Oman Real Estate Market Size, 2005-2010 2.1. By Revenue, 2005-2010 2.2. By Supply, 2005-2010 3. Oman Real Estate Market Segmentation by Residential,

More information

Doha Airport / City Centre. Increase in tourist arrivals and opening of new hotels expected to keep the market growth in line with 2014 performance.

Doha Airport / City Centre. Increase in tourist arrivals and opening of new hotels expected to keep the market growth in line with 2014 performance. MENA Hotels August 2015 MENA HOTEL FORECASTS 3-Month Rolling Forecast Highlights Aug Oct 2015 YoY RevPAR Variance % Doha Airport / City Centre Increase in tourist arrivals and opening of new hotels expected

More information

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK

DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Research Report DEUTSCHE ASSET & WEALTH MANAGEMENT REAL ESTATE OUTLOOK Second Quarter 2013 Economic Outlook Business and consumer spending to drive recovery Quantitative easing beginning its expected unwinding

More information

2014 ASIA PACIFIC OUTLOOK. China still led the economic growth in 2013 with the Philippines at second. Source: Jones Lang La Salle

2014 ASIA PACIFIC OUTLOOK. China still led the economic growth in 2013 with the Philippines at second. Source: Jones Lang La Salle 2014 ASIA PACIFIC OUTLOOK China still led the economic growth in 2013 with the Philippines at second. Source: Jones Lang La Salle 2014 MAKATI RESIDENTIAL MARKET CBD.BONIFACIO GLOBAL CITY.ORTIGAS Rank 4

More information

Trends in real estate investment flows

Trends in real estate investment flows Capital Flows May 211 Trends in real estate investment flows In 21, AUD 12.7 billion of transactions (> AUD 5 million) were recorded in Australia s commercial property market, the 4 th highest on record.

More information

Commercial Property Newsletter

Commercial Property Newsletter Commercial Property Newsletter November 2010 Inside: Irish Commercial Property Commentary UK Commercial Property Commentary - Irish Life UK Property Fund Information European Commercial Property Commentary

More information

Market Commentary Melbourne CBD Office

Market Commentary Melbourne CBD Office Market Commentary Melbourne CBD Office July 2015 Executive Summary The Melbourne CBD office market recorded strong net absorption of 26,000 sqm in 2Q15. This is the fifth consecutive quarter of positive

More information

European office sector recovery gains momentum

European office sector recovery gains momentum The Jones Lang LaSalle Office Property Clock Q4 2013 European office sector recovery gains momentum European Office Rental Index increases q-o-q Aggregate European leasing volume up 18% on Q3 Completions

More information

Russian Real Estate Investment Market

Russian Real Estate Investment Market Russian Real Estate Investment Market Russian real estate investment volumes Investment volume dynamics, USD mn* 8,000 Q1 Q2 Q3 Q4 7,000F 6,000 5,059 4,799 4,000 4,005 3,917 3,243 2,000 0 757 131 301 2003

More information

Berlin Office MarketView

Berlin Office MarketView Berlin Office MarketView Q2 213 GDP Q1 GER +.1% Q-o-Q GDP Q4 GER -.6% Q-o-Q IFO BUSINESS CLIMATE INDEX 1.9 June 213 CBRE Global Research and Consulting GFK CONSUMER CLIMATE INDEX 6. June 213 UR BER 11.6%

More information

Industrial Outlook Baltimore/Washington. Q1 2013

Industrial Outlook Baltimore/Washington. Q1 2013 Industrial Outlook Baltimore/Washington. Q1 2013 Mixed start to 2013 across the region Baltimore industrial properties saw continued interest from tenants, most notably north of the city in Harford County,

More information

Outlook for Australian Property Markets 2010-2012. Perth

Outlook for Australian Property Markets 2010-2012. Perth Outlook for Australian Property Markets 2010-2012 Perth Outlook for Australian Property Markets 2010-2012 Perth residential Population growth expected to remain at above average levels through to 2012

More information

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014

Investment Market Overview. Germany I 2 nd quarter of 2014 Published in July 2014 Investment Market Overview Germany I 2 nd quarter of 2014 Published in July 2014 JLL Investment Market Overview July 2014 2 Strong momentum on the German investment market The German investment market

More information

Strata Office Space An Expanding Asset Class. January 2015

Strata Office Space An Expanding Asset Class. January 2015 Strata Office Space An Expanding Asset Class January 2015 CBD Strata Office Space Takes Centre Stage Demand for quality pipeline strata office space supply will remain resilient on the back of limited

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView Q4 212 CBRE Global Research and Consulting OFFICE STOCK 3.9 M SQ M OFFICE VACANCY 8.8% OFFICE TAKE-UP 68,5 SQ M COMPLETION 268, SQ M UNDER CONSTRUCTION.2% Y-O-Y GENERAL OVERVIEW

More information

Warsaw Office MarketView

Warsaw Office MarketView Warsaw Office MarketView H1 213 CBRE Global Research and Consulting OFFICE STOCK 4. M SQ M OFFICE VACANCY 1.5% OFFICE TAKE-UP 334, SQ M COMPLETION 152, SQ M UNDER CONSTRUCTION 7.8% Y-O-Y GENERAL OVERVIEW

More information

Colliers International House Price Index

Colliers International House Price Index C O L L I E R S I N T E R N AT I O N A L M E N A R E G I O N House Price Index D U B A I t h i r d Q u a rt e r 2 9 executive summary Increase in the overall index of between Q2 29 and Q3 29. YOY decline

More information

Supplemental Information First-Quarter 2014 Earnings Call

Supplemental Information First-Quarter 2014 Earnings Call Supplemental Information First-Quarter 2014 Earnings Call Market & Financial Overview Q1 & FY Capital Markets & Leasing Markets Volumes Investment Volume Strength Varies HISTORICAL FORECAST Capital Markets

More information

In Q4/2015, total retail stock was approximately 1.1 million m², increasing by 14.7% quarter-on-quarter (QoQ) and 14.3% year-on-year (YoY).

In Q4/2015, total retail stock was approximately 1.1 million m², increasing by 14.7% quarter-on-quarter (QoQ) and 14.3% year-on-year (YoY). 13 January 2016 SAVILLS VIETNAM S REPORT ON HANOI REAL ESTATE MARKET Co.,Ltd 6 th Floor, Sentinel Place 41A Ly Thai To Street, Hoan Kiem District, Hanoi T: +84 4 3946 1300 savills.com.vn Q4/2015 1. RETAIL:

More information

Rebound after a slow start

Rebound after a slow start DTZ Research PROPERTY TIMES Rebound after a slow start Europe Office Q2 2015 28 August 2015 Contents Take-up 2 New office supply 3 Vacancy ratio 4 Prime office rents 5 Outlook 6 Definitions 7 3 million

More information

InvestIng In london commercial real estate

InvestIng In london commercial real estate InvestIng In london commercial real estate contacts gareth Williams Partner Property Department for Royds LLP Tel: +44 (0) 20 7583 2222 gwilliams@royds.com andrew cruickshank Tel: +44 (0) 020 7338 4434

More information

PROPERTY COUNTRY REPORT : VIET NAM

PROPERTY COUNTRY REPORT : VIET NAM PROPERTY COUNTRY REPORT : VIET NAM 1 CONTENT Vietnam economic outlook Overview of Real estate market in Vietnam - Office - Retail - Residential 2 Vietnam economic outllook GDP, CPI, FDI & inventory of

More information

RICS Global Commercial Property Monitor Q3 2014

RICS Global Commercial Property Monitor Q3 2014 Simon Rubinsohn Chief Economist srubinsohn@rics.org +44 (0)207334 3774 RICS ECONOMICS RICS Global Commercial Property Monitor Q3 2014 * RICS Occupier Sentiment Index (OSI) is constructed by taking an unweighted

More information

Market Sentiment Survey

Market Sentiment Survey Market Sentiment Survey H1 2014 Portfolio.hu RICS ELTINGA Market Sentiment Survey H1 2014 01 Highlights 02 Explanation 03 Index 05 Office sector 09 Retail sector 13 Industrial sector 16 General sentiment

More information

IV. Market Analysis. A. Executive Summary. The Economy. The Site

IV. Market Analysis. A. Executive Summary. The Economy. The Site IV. Market Analysis A. Executive Summary The Economy The St. Louis metropolitan area population has grown at the moderate annual rate of 4.4% over the last eight years while employment (the best measure

More information

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165

Equity per share (NOK) 135 123 131 Equity ratio 37 % 39 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 170 153 165 REPORT Q1/2015 KEY FIGURES Amounts in NOK million Q1 2015 Q1 2014 31.12.14 Net rental income 503 454 1 883 Fair value adjustments in investment properties and interest rate derivatives 1 294-9 281 Profit

More information

Widen. your investment horizon. Real Estate Investments

Widen. your investment horizon. Real Estate Investments Widen your investment horizon Real Estate Investments Agenda Market update Commercial Real Estate Processes to be followed Q & A Real Estate Trends A Snapshot Office Market Trends INDIA 4 Asia Pacific

More information

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165

Equity per share (NOK) 147 123 131 Equity ratio 39 % 38 % 36 % Non-current net asset value per share (NOK) (EPRA NNNAV) 2) 184 152 165 REPORT FOR Q2 AND THE FIRST 6 MONTHS OF 2015 KEY FIGURES Amounts in NOK million Q2 2015 Q2 2014 30.06.15 30.06.14 2014 Net rental income 501 450 1 005 904 1 883 Fair value adjustments in investment properties

More information

July 2014. UK Commercial & Residential Property Markets Review: July 2014 1

July 2014. UK Commercial & Residential Property Markets Review: July 2014 1 July 2014 UK Commercial & Residential Property Markets Review: July 2014 1 UK Commercial & Residential Property Markets Review: July 2014 2 UK COMMERCIAL & RESIDENTIAL PROPERTY MARKETS REVIEW: JULY 2014

More information

Quarterly Report Egypt Hotels Full-Year 2015. Egypt Full-Year 2015 Review 4 Key Cities

Quarterly Report Egypt Hotels Full-Year 2015. Egypt Full-Year 2015 Review 4 Key Cities Quarterly Report Egypt Hotels Full-Year 2015 Egypt Full-Year 2015 Review 4 Key Cities Contents Cairo... 3 Sharm El Sheikh... 4 Hurghada... 5 Alexandria... 6 2 Cairo SUPPLY A number of high profile properties

More information

OUE Commercial REIT s 3Q 2015 Distribution Increased 7.1% Y-o-Y and Exceeded Forecast by 10.0%

OUE Commercial REIT s 3Q 2015 Distribution Increased 7.1% Y-o-Y and Exceeded Forecast by 10.0% PRESS RELEASE For Immediate Release OUE Commercial REIT s 3Q 2015 Distribution Increased 7.1% Y-o-Y and Exceeded Forecast by 10.0% 3Q 2015 Highlights: Net property income of S$15.6 million is 4.7% higher

More information

Property Times Europe Q3 2010 Short supply improves rental outlook

Property Times Europe Q3 2010 Short supply improves rental outlook 1999 2000 2001 2002 2003 2004 2005 2006 2007 2011 2012 2013 2014 Property Times Europe Short supply improves rental outlook 19 October Contents Overview 1 Market Statistics 2 Office Market Overview 3 Outlook

More information

Commercial Real Estate Vacancy Overview

Commercial Real Estate Vacancy Overview Commercial Real Estate Vacancy Overview RETAIL 4.63% 5.31% increase SUBURBAN OFFICE 18.2% 4.15% increase CBD OFFICE 12.75% 4.86% decrease INDUSTRIAL 5.69% 2.91% increase YEAREND 215 The Lexington commercial

More information

Outlook for Australian Property Markets Sydney

Outlook for Australian Property Markets Sydney Outlook for Australian Property Markets 2010-2012 Sydney Outlook for Australian Property Markets 2010-2012 Sydney Residential Stimulus and the confidence drives recovery Finance commitments to buy or construct

More information

SELF-STORAGE REPORT VIEWPOINT 2016 / COMMERCIAL REAL ESTATE TRENDS. irr.com. An Integra Realty Resources Publication

SELF-STORAGE REPORT VIEWPOINT 2016 / COMMERCIAL REAL ESTATE TRENDS. irr.com. An Integra Realty Resources Publication SELF-STORAGE REPORT VIEWPOINT 2016 / COMMERCIAL REAL ESTATE TRENDS An Integra Realty Resources Publication irr.com Self-Storage Steams Ahead The intense pace of multifamily development and demand are key

More information

Real Estate and Infrastructure Investment Opportunities

Real Estate and Infrastructure Investment Opportunities FRANKLIN TEMPLETON REAL ESTATE ADVISORS Real Estate and Infrastructure Investment Opportunities Jack Foster Head of Real Estate & Real Assets Franklin Templeton Real Estate Advisors World GDP Growth Almost

More information

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group

House price report. September quarter 2014. Dr Andrew Wilson Senior Economist for the Domain Group September quarter 2014 Dr Andrew Wilson Senior Economist for the Domain Group Key findings Most capital city housing markets recorded falls in house prices over the September quarter September quarter

More information

Unaudited Results of Keppel REIT for the Third Quarter and Nine Months Ended 30 September 2013

Unaudited Results of Keppel REIT for the Third Quarter and Nine Months Ended 30 September 2013 MEDIA RELEASE Unaudited Results of Keppel REIT for the Third Quarter and Nine Months Ended 30 September 2013 14 October 2013 The Directors of Keppel REIT Management Limited, as manager of Keppel REIT,

More information

GUIDE TO INVESTING IN LONDON PROPERTY

GUIDE TO INVESTING IN LONDON PROPERTY LAWS AND REGULATIONS Nature of Ownership There are two types of land ownership in London; freehold and leasehold. The freeholder owns the land (in some cases including the sub-soil below the land, the

More information

Global Growth Strategy

Global Growth Strategy Global Growth Strategy Jones Lang LaSalle Global strategy for renewed growth G1 Build our leading local and regional market positions G2 G3 G4 Grow our leading positions in Corporate Solutions Capture

More information

Real Estate Industry in Brazil

Real Estate Industry in Brazil Real Estate Industry in Brazil 15 Th ULI Europe Annual Conference February, 2011 Agenda 1. Macro Scenario 2. The Real Estate Market in Brazil Residential Office Hospitality Industrial Shopping center 3.

More information

CLO CLO Q4 2014. thinkcapitarealestate.uk. Central London Office Overview

CLO CLO Q4 2014. thinkcapitarealestate.uk. Central London Office Overview CLO Central London Office Overview CLO Q4 2014 2 Central London Office Overview Central London Office Overview 3 At a glance 4 Central London Office Overview West End At a glance 111 Buckingham Palace

More information

Middle East Hotel Market Insight Report Dubai, UAE

Middle East Hotel Market Insight Report Dubai, UAE Middle East Hotel Market Insight Report Dubai, UAE Issue 1 - April 214 In the Middle East since Dubai has established itself as a leading global hospitality destination Dubai attracted 7.8 million hotel

More information

UK Prime Rents and Yields MarketView

UK Prime Rents and Yields MarketView Q 2 Q1 2 Q1 2 Q 2 Q2 2 Q1 2 Q 2 Q 2 Q2 2 Q 2 Q2 211 Q 212 UK Prime Rents and Yields MarketView CBRE Global Research and Consulting RENTS - RISERS 2 YIELDS - FALLERS RENTS - FALLERS YIELDS - RISERS ACCELERATING

More information

Minneapolis/St. Paul Office MarketView

Minneapolis/St. Paul Office MarketView Minneapolis/St. Paul Office MarketView Q2 2014 CBRE Global Research and Consulting BIG 2ND QUARTER HAS VACANCY RATE TRENDING DOWNWARD Quick Stats GDP GROWTH MN EXPORTS MN UNEMPLOYMENT CONSUMER SPENDING

More information

Central Los Angeles Leasing Activity Surges Despite Negative Absorption

Central Los Angeles Leasing Activity Surges Despite Negative Absorption office CENTRAL LOS ANGELES market report Central Los Angeles Leasing Activity Surges Despite Negative Absorption Market overview MARKET indicators - VACANCY 19.8% NET ABSORPTION -112,300 CONSTRUCTION 1,242,600

More information

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015

Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Press release Regulated information Embargo 13 May 2015 5.40 PM CREATING VALUE IN REAL ESTATE Interim statement of the Board of Directors for the period from 1 January 2015 to 31 March 2015 Acquisition

More information

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe

LARGE OFFICE SPACE Where to find 5,000 sq m in Europe EMEA Office July 2015 LARGE OFFICE SPACE Where to find 5,000 sq m in Europe HIGHLIGHTS The availability of large office premises has reduced by 12% year-on-year Choice is limited - only 19% of options

More information

August 2014. Valuation Report. Project Diem

August 2014. Valuation Report. Project Diem August 2014 Valuation Report Contents 1 Executive Summary... 6 2 Schedule of Market Values... 7 3 Property Schedule Executive Summaries... 8 3.1 Summary Overview Table... 8 Property 1 - The Dubai Mall

More information

Regional Investors Becoming More Strategic

Regional Investors Becoming More Strategic Real Estate Investor Sentiment Survey Middle East & North Africa Seventh Edition, November 2012 Regional Investors Becoming More Strategic Preference for income producing assets to rebalance portfolios

More information

Office market report Luxembourg

Office market report Luxembourg Office market report Luxembourg On Point 4 th quarter 2015 The year of the mega deals Take-up in Q4 surged to 87,000 sqm., up vs. 58,000 sq.m. in Q3. Over the full year, take-up amounted to 231,000 sq.m,

More information

Q research TURKEY REAL ESTATE MARKET. property news. shifting trends, developing retail sector

Q research TURKEY REAL ESTATE MARKET. property news. shifting trends, developing retail sector TURKEY REAL ESTATE MARKET Research Özlem Atalay Research Analyst +90 (212) 231 55 30 ext.126 atalayo@pamirsoyuer.com.tr Investment Firuz Soyuer Managing Partner +90 (212) 231 55 30 ext.117 fs@pamirsoyuer.com.tr

More information

Office Market Conditions Across the UK

Office Market Conditions Across the UK UK National Voice - Q4 21 Office Market Conditions Across the UK Signs of recovery in the UK office leasing market appeared during the second half of 21 with take-up activity up 75 in comparison with the

More information

MENA HOTEL FORECASTS. 3-Month Rolling Forecast Highlights Feb Apr 2015 YoY RevPAR Variance % MENA Hotels February Fujairah. Makkah.

MENA HOTEL FORECASTS. 3-Month Rolling Forecast Highlights Feb Apr 2015 YoY RevPAR Variance % MENA Hotels February Fujairah. Makkah. MENA Hotels February 2015 MENA HOTEL FORECASTS 3-Month Rolling Forecast Highlights Feb Apr 2015 YoY RevPAR Variance % Makkah Next three months to see stable Umrah demand, although with visa restrictions

More information

Residential Commentary Sydney Apartment Market

Residential Commentary Sydney Apartment Market Residential Commentary Sydney Apartment Market March 216 Executive Summary It has been a good year for the NSW economy. State Final Demand (SFD) increased 3.% in 215, as compared to an average of 2.2%

More information

VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS

VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS Contact: Jerry Holdner Voit Real Estate Services (949) 263-5371 Jholdner@voitco.com VOIT REPORTS POSITIVE ABSORPTION FOR OFFICE AND LOW INDUSTRIAL VACANCY IN ORANGE COUNTY Q1 MARKET REPORTS Orange County,

More information

RESEARCH THE HUB REPORT HOW DOES DUBAI FARE AGAINST OTHER GLOBAL HUBS?

RESEARCH THE HUB REPORT HOW DOES DUBAI FARE AGAINST OTHER GLOBAL HUBS? THE HUB REPORT HOW DOES DUBAI FARE AGAINST OTHER GLOBAL HUBS? THE HUB REPORT 0 KEY FINDINGS In recent years, has further cemented its position as a regional hub. The growth of logistics, tourism, financial

More information

PROPERTY TIMES Fall in office rents provides opportunities for tenants. Qatar Q2 2016

PROPERTY TIMES Fall in office rents provides opportunities for tenants. Qatar Q2 2016 PROPERTY TIMES Fall in office rents provides opportunities for tenants Qatar Q2 216 DTZ Research PROPERTY TIMES Fall in office rents provides opportunities for tenants Qatar Q2 216 3 June 216 Contents

More information

Life Sciences Outlook. San Diego 2015

Life Sciences Outlook. San Diego 2015 Life Sciences Outlook San Diego 2015 San Diego San Diego saw $43.8 billion in M&A transactions from 2011 through 2014. Large pharmaceutical companies are purchasing biotech firms to fill their R&D pipelines,

More information

Argentina Real Estate. Presented by Herman Faigenbaum Managing Director, Cushman & Wakefield Rodrigo Millán Regional Director, Jones Lang LaSalle

Argentina Real Estate. Presented by Herman Faigenbaum Managing Director, Cushman & Wakefield Rodrigo Millán Regional Director, Jones Lang LaSalle Argentina Real Estate Presented by Herman Faigenbaum Managing Director, Cushman & Wakefield Rodrigo Millán Regional Director, Jones Lang LaSalle SEPT 13TH, 2016 PROPERTY RIGHTS Nature or property rights

More information

Q4 2015 MARKET INSIGHTS OFFICE SECTOR HO CHI MINH CITY

Q4 2015 MARKET INSIGHTS OFFICE SECTOR HO CHI MINH CITY 215 MARKET INSIGHTS OFFICE SECTOR In 215, Vietnam has benefited from stability in the macroeconomic Gross Domestic Product (GDP) in 215 increased 7.1% year on year (y-o-y), bringing the overall GDP growth

More information

Yield Compression is evident in the prime end of the market

Yield Compression is evident in the prime end of the market MARKETVIEW Helsinki Metropolitan Area (HMA) Office, Q4 2014 Yield Compression is evident in the prime end of the market 0.9% (Nov Y-o-Y) 1.0% (2014 Y-o-Y) 8.8% (Dec) QUICK STATS ECONOMIC OVERVIEW Q4 2014

More information

Land Title and Survey Authority of British Columbia

Land Title and Survey Authority of British Columbia Land Title and Survey Authority of British Columbia Management s Discussion and Analysis For the three months ended June 30, 2012 The following is a discussion and analysis of the financial condition and

More information

OUT OF TOWN NORTH LIVERPOOL CITY FRINGE OUT OF TOWN WAVERTREE

OUT OF TOWN NORTH LIVERPOOL CITY FRINGE OUT OF TOWN WAVERTREE LIVERPOOL COMMERCIAL OFFICE MARKET REVIEW 2013 WATERLOO NORTH LIVERPOOL BOOTLE CITY FRINGE KNOWSLEY ST HELENS CITY CENTRE RIVER MERSEY WAVERTREE LIVERPOOL CITY REGION MAP SOUTH LIVERPOOL SUMMARY Combining

More information

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS

CB RICHARD ELLIS RESEARCH AND CONSULTING. Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS CB RICHARD ELLIS RESEARCH AND CONSULTING Special Report DUBLIN - A COMPARATIVE ANALYSIS OF COMPETING OFFICE MARKETS August 2010 TABLE OF CONTENTS Foreword 4 Introduction 5 Corporate Tax Rates 6 Rents

More information

Adelaide CBD Office Market

Adelaide CBD Office Market SPRING 2015 MARKET TRENDS Leasing demand strengthened in the year to July 2015, led by take up from the Government and regulatory authorities and Utilities, Mining and resources sectors. Supply additions

More information

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4

Contents. Economy Investment Office...5. Industrial Summary Q Summary Q Prognosis... 4 Czech Republic MARKET OVERVIEW Q1 2016 Contents Economy... 3 Summary Q1 2016... 3 Investment... 4 Summary Q1 2016... 4 Prognosis... 4 Office...5 Summary Q1 2016... 5 Prognosis... 6 Industrial... 7 Summary

More information

London s West End: Half Year Review and Outlook

London s West End: Half Year Review and Outlook London s West End: Half Year Review and Outlook JANUARY - JUNE 2013 Overview and Outlook Following a momentous 2012, when the Queen s Jubilee and the 2012 Games placed London firmly in the world s spotlight,

More information

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering

Recovery in UK property to gain momentum. Recovery in UK property market to gain momentum. Research & Strategy. June 2013. Economic growth recovering Research & Strategy Recovery in UK property to gain momentum June 13 Recovery in UK property market to gain momentum This hasn t been a typical recession and it won t be a typical recovery. Nevertheless

More information

Market Sentiment Survey

Market Sentiment Survey Market Sentiment Survey H1 2013 Portfolio.hu RICS ELTINGA Market Sentiment Survey H1 2013 01 Highlights 02 Explanation 03 Index 05 Office sector 09 Retail sector 13 Industrial sector 16 General sentiment

More information

Real Estate Trends. in the Sacramento Region. Key Points

Real Estate Trends. in the Sacramento Region. Key Points Real Estate Trends The opening of Golden 1 Center in the fall of 2016 will certainly be one of the most significant events in recent Sacramento history. Golden 1 Center Downtown Sacramento photo credit:

More information

ECONOMY MARKET VIEW Q2 2016

ECONOMY MARKET VIEW Q2 2016 ECONOMY MARKET VIEW Q2 2016 Although stock market volatility and global economic concerns highlighted the first six months of the year, the U.S. economy continued to expand through the first half of 2016.

More information

Brookfield Asset Management Inc. 2014 Second Quarter Results Conference Call Transcript

Brookfield Asset Management Inc. 2014 Second Quarter Results Conference Call Transcript Brookfield Asset Management Inc. 2014 Second Quarter Results Conference Call Transcript Date: Friday, August 8, 2014 Time: Speakers: 11:00 AM ET Bruce Flatt Senior Managing Partner and Chief Executive

More information

Domain Rental Report June Quarter 2016

Domain Rental Report June Quarter 2016 Domain Rental Report June Quarter 2016 Dr Andrew Wilson Chief Economist for domain.com.au Key findings Sydney unit rents continue to climb, with units closing in on house rental prices Relief for tenants

More information

Real estate market report

Real estate market report December, There continues to be domestic and global capital available for well-located, core real estate in Canada. CBRE Limited has revised their projections of cumulative investment volume for to $.

More information

1041 N. California Chicago, IL 60622 3 Unit Mixed-Use $399,900

1041 N. California Chicago, IL 60622 3 Unit Mixed-Use $399,900 Chicago, IL 60622 3 Unit Mixed-Use $399,900 Interra Realty LLC 640 North LaSalle Street, Ste 200 Chicago, Illinois 312-361-3140 www.interrarealty.com info@interrarealty.com CONFIDENTIALITY AND DISCLAIMER

More information