Jun 27, 2012
Real estate in the UAE is experiencing "extraordinarily high" rental returns at the moment, according to one expert.
Niall McLoughlin, senior vice-president of luxury developer DAMAC Properties, told Business Intelligence Middle East that the yields are not only extremely competitive, but have remained consistent for some time.
He was commenting on recent figures compiled by Global Property Guide that showed the UAE is among the top five in the Middle East and North Africa region for rents.
Mr McLoughlin stated: "The property market in the UAE is changing remarkably; three years ago it was dominated by investors pursuing capital growth and now that prices have stabilised, it's characterised by investors seeking continually high rental yields."
This means the UAE is performing better than locations such as the UK and Hong Kong, he added.
The comments come after Dubai's ruler Sheikh Mohammad bin Rashid Al Maktoum recently announced that two new plots of land in the emirate will now become available for leasehold to foreign owners.
The decree, posted on his website, said the sites will be based at the Dubai Investment Park and will be available for up to 85 years.
Source: www.PropertyShowRooms.com
