Positive trends remain strong across the UAE’s commercial property sectors in the third quarter of 2023, with offices leading the pack, according to RICS Global Commercial Property Monitor.

The country’s industrial property sector is in good health, RICS said, adding that overall occupier demand (net aggregate sentiment) remained firm at 57 percent, with offices at 72 percent, industrial (53 percent) and retail (47 percent).
 
On the sustainability front, developers and contractors are increasingly incorporating energy-efficient designs and sustainable materials, aligning with global environmental standards.
 
RICS said capital and rent value expectations over the next three and 12 months are consistently strong, with no sign of slowdown for the foreseeable future.
 
Increased international interest (63 percent) further cements the UAE’s appeal, attracting capital flows reinforcing sustainable economic growth, said RICS Senior Public Affairs Officer Abdullah Akaish.
 
Encouraging flexible zoning laws and incentivising renewable energy use will enable continued growth while ensuring the UAE’s real estate sector remains competitive and resilient in a global context, he added.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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