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Dubai Office Market - Q1 2016

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Middle Eastern real estate economies are typically volatile and sensitive to both oil price movements and political events. However, as the region’s real estate markets mature and their economies move away from such reliance on this sector, it is anticipated that such volatility will become less evident. Leading this progress towards greater stability, Dubai has now passed through its first real estate cycles and is displaying the characteristics of a maturing market with rational investor behaviour driving developer and end user activity.

Nevertheless, the role of oil price movements cannot be ignored even in Dubai, and the sharp downward movement of oil prices during 2015 has resulted in significantly less liquidity amongst the investment and business sectors throughout the Middle East. The UAE Dirham’s peg against a strengthening US Dollar is also providing an increasingly challenging environment for developers as Dubai real estate becomes increasingly expensive for international buyers.

Source : Core Savills

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