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UAE Real Estate Market Outlook to 2025

By Office Real Estate Market (Premium, Grade A and Grade B); By Retail Real Estate Market (Super-Regional Malls, Regional Malls, Community Centers, Neighborhood Center and Convenience Center); By Residential Real Estate Market (Apartment and Villas) and By Hotel Real Estate Market (1-3 Star, 4 Star, 5 Star and Hotel-Apartments)

Region:Middle East

Author(s):Shivangi Sneha

Product Code:KR945

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Published On

January 2020

Total pages

385

About the Report

The report titled "UAE Real Estate Market Outlook to 2025 – By Office Real Estate Market (Premium, Grade A and Grade B); By Retail Real Estate Market (Super-Regional Malls, Regional Malls, Community Centers, Neighborhood Center and Convenience Center); By Residential Real Estate Market (Apartment and Villas) and By Hotel Real Estate Market (1-3 Star, 4 Star, 5 Star, and Hotel-Apartments)" provides a comprehensive analysis of the real estate space within UAE. The report covers various aspects including introduction of the UAE real estate market, macroeconomic overview, regional office market coverage (including current and future supply, demand, gap analysis, rental & occupancy rate), regional retail market coverage (including current and future supply, demand, gap analysis, rental as well as occupancy rate), entire UAE & regional residential market coverage (including current and future supply, demand, gap analysis, rental and occupancy rate for apartments and villas), regional hotel market coverage (including number of hotels and keys, RevPAR and Occupancy rate); Snapshots of Northern Emirates (Sharjah, Ajman, Ras Al-Khaimah, Fujairah and Umm Al-Quwain), Snapshot of UAE industrial and co-working market, major growth drivers, issues and challenges, regulatory landscape and competitive landscape. The report concludes with future outlook and analyst recommendations highlighting the major opportunities and cautions.
 
UAE Real Estate Market
UAE Real Estate Market Overview: UAE’s real estate market is currently in its mature stage. The period during 2013-2016 was marked by a steady stream of supply, owing to the increasing GDP and increased demand in the market. Heightened rents led to a decrease in demand due to lacking affordability of the citizens and expatriates during 2014-2015. After the 2014 oil shock, the government has been actively attracting Foreign Direct Investment and expatriates to the UAE in order to diversify its economy away from oil generated revenues. The UAE Government launched the “Vision 2021” plan, for the economic and social development of the country. From 2017 and onwards, the total number of international players in each respective submarket increased. Newer segments such as townhouses, and co-working spaces, smart and green buildings gained traction in the market.
 
UAE Residential Real Estate Market: The government started issuing long term residence permits called “Golden Cards” in 2019. This particular scheme aims at providing long term residency for investors and for exceptional workers in the field of health, engineering, science, and art. Around 6,800 investors from over 70 countries with investments totaling USD 27 billion were being given permanent residency under this scheme. Among the 9.4 million population of UAE, 8.4 million people are a part of the expatriate population. A growing population was one of the key drivers which led to an increase in demand for residential units in the country.
 
UAE Retail Real Estate Market: Backed by a high number of expatriate populations and a strong consumer base, the retail industry witnessed strong growth in the land of Emirates. Store-based retailing will continue to dominate in the UAE. Increased consumerism has given rise to increased faith of people in buying products and services thereby increasing contribution to the retail sector. Dubai has the highest share of super-regional malls as the retail sector is trying to engage shoppers by offering them more than just a shopping destination. All of these factors have increased the demand for retail space in the UAE.
 
UAE Hotel Real Estate Market: The UAE has long been recognized as a premier tourism and leisure destination. Over the years, the tourism sector has experienced sustained growth, becoming a key component of the UAE’s economy. Dubai Tourism Strategy 2020 was launched in the year 2013 and is a strategic road map with the key objective of attracting 20 million visitors per year by the year ending 2020. It involves broadening Dubai offerings in terms of events, attractions, infrastructure, services and packages and making it appealing to a wider audience. An increase in the number of tourist attractions has been elevating the demand for hotel units and hotel space within UAE.
 
UAE Office Real Estate Market: UAE’s office market is a thriving space with the presence of both domestic and foreign brands, offering office spaces in categories such as Premium, Grade A, and Grade B. In May 2019, the UAE government announced that it would soon be possible for foreign entrepreneurs to hold 100% shareholding in a locally incorporated business, therefore, driving the office space in the country. Total foreign ownership was previously only permitted in the UAE’s free zones, meaning businesses incorporated ‘onshore’ had to be 51% locally owned. These factors point towards the scope and profitability of the office market in the UAE in the near future.
 
Snapshot on UAE Co-Working Real Estate Market: Approximately 7 million people are predicted to be working in co-working spaces (For instance, Regus and We Work and Others) within UAE in 2019. Based on the global growth that took place in co-working spaces, it is anticipated that UAE will experience steady growth in the co-working space in the upcoming years. Approximately, half of the blue-chip companies will have some sort of shared office space by end of 2020. The majority of co-working space providers intend to either enter into a partnership or have a lease agreement with the landlords.

Key Topics Covered in the Report

  • UAE Residential Real Estate Market, 2013-2025
  • UAE Retail Real Estate Market, 2013-2025
  • UAE Hotels Real Estate Market, 2013-2025
  • UAE Industrial Real Estate Market, 2018
  • UAE Co-working Space Snapshot
  • Disruptive Technologies Overview: PropTech in UAE Real Estate
  • Growth Drivers and Challenges
  • UAE Real Estate Market Major Real Estate Developer Profiles
  • Supply and Demand Gap Analysis, 2013-2025F
  • Major Projects Launched in Different Real Estate Markets
  • Recommendations about Success Factors for Developing Different Real Estate Markets

Products

Key Target Audience

  • Real Estate Developers
  • Independent Investors
  • Real Estate Consulting Companies
  • Third-Party Real Estate Companies
  • Independent Architects
  • Industry Associations
  • Government Agencies

Time Period Captured in the Report:

  • Historical Period – 2013 - 2018
  • Forecast Period – 2019F – 2025F

Companies

Key Segments Covered

UAE Real Estate Market

By Geography:

  • Dubai
  • Abu Dhabi
  • Ajman
  • Sharjah
  • Fujairah
  • Umm-Al-Quwain
  • Ras-Al-Khaimah

UAE Office Real Estate Market

By Type:

  • Premium Office
  • Type A Office
  • Type B Office

UAE Retail Real Estate Market

By Type:

  • Super-Regional Mall
  • Regional Mall
  • Community Center
  • Neighborhood Center
  • Convenience Center

UAE Residential Real Estate Market

By Type:

  • Apartments
  • Villas

UAE Hotel Real Estate Market

By Type:

  • 1-3 Star Hotels
  • 4 Star Hotels
  • 5 Star Hotels
  • Hotel Apartments (Deluxe/Superior/ Standard)
Real Estate Developers Covered:
  • EMAAR Properties
  • DAMAC Properties
  • Nakheel Properties
  • Meraas
  • Aldar Properties
  • Manazel Real Estate
  • Aziz Developments
Case Studies Covered:
  • Sense-R (Virtual Reality)
  • Take Leap (Virtual Reality)
  • AirBnb (Shared Economy)
  • Property Finder
  • Bayut UAE
  • Abu Dhabi Mall
  • Yas Mall
  • Marriot International Group
  • Novotel Abu Dhabi
  • Surf, Abu Dhabi Creek Harbor
  • Emaar Business Park

Table of Contents

1. Executive Summary

2. Research Methodology

2.1. Market Definitions
2.2. Abbreviations
2.3. Market Sizing and Modelling
2.4.Consolidated Research Approach
2.5.Market Sizing Approach– UAE Real Estate Market
2.6.Sample Size Inclusion Table
2.7.Limitations
2.8.Final Conclusion

3. UAE Real Estate Market Overview

3.1. Introduction to UAE Real Estate Market
3.2.Final Consumer Expenditure in UAE, 2016-2017
3.3.Analysis of Investment Structure by Economic Sectors, 2016-2017
3.4.UAE Population, 2013-2018
3.5.UAE Population by Age Bracket and Gender, 2018
3.6.UAE Expatriate Population by Nationality
3.7. Key Policy Changes in UAE, 2018

4. UAE Residential Real Estate Market, 2013-2025

4.1. UAE Residential Real Estate Market Overview
4.2. Dubai Residential Real Estate Market Overview
4.2.1. Dubai Current and Future
4.2.2. Residential Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply By Type of Residential Units (Apartments and Villas), 2018
Supply By Type of Residential Units (Apartments and Villas), 2025F
4.2.3. Dubai Current and Future Residential Real Estate Demand, 2013-2025F
Occupancy by Type ofResidential Units (Apartment and Villas), 2018
Occupancy by Type of Residential Units (Apartment and Villas), 2025F
4.2.4. Supply and Demand Gap
4.3. Abu Dhabi Residential Real Estate Market Overview
4.3.1. Abu Dhabi Current and Future Residential Real Estate Supply, 2014-2025F
4.4. Upcoming Major Residential Projects in UAE
4.5. Recommendations Regarding Success Factors of Developing Residential Market in UAE
4.6. UAE Case Studies of Popular Residential Units
Surf, Dubai Creek Harbour (Emaar Properties)

5. UAE Retail Real Estate Market, 2013-2025

5.1. Overview of Retail Real Estate Market in UAE
Competition In The Retail Sector
5.2. Dubai Retail Real Estate Market Overview
5.2.1. Dubai Current and Future Retail Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply by Type of Mall (Super-Regional Malls, Regional Malls, Community Malls, Neighbourhood Malls and Convenience Malls), 2018
Supply by Type of Mall (Super-Regional Malls, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2025F
5.2.2. Dubai Current and Future Retail Demand, 2013-2025F
Demand by Type Of Mall (Super-Regional MallS, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2018
Demand by Type Of Mall (Super-Regional MallS, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2025F
5.2.3. Supply and Demand Gap
Recent Developments in the Dubai Retail Real Estate Market
5.3. Abu Dhabi Retail Market Overview
5.3.1. Abu Dhabi Current and Future Retail Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply by Type Of Mall (Super-Regional MallS, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2018
Supply by Type Of Mall (Super-Regional MallS, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2025F
5.3.2. Abu Dhabi Current and Future Retail Demand, 2013-2025F
Demand by Type Of Mall (Super-Regional Malls, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2018
Demand by Type Of Mall (Super-Regional MallS, Regional Malls, Community Malls, Neighborhood Malls and Convenience Malls), 2025F
5.3.3. Supply and Demand Gap
5.4. Tenant Mix Of UAE Retail Market, 2018
5.5. Future Trends of Retail Market
Growth of E-commerce
Adoption of Omni-channel Strategies
Surge in Consumer Awareness
Using Data analytics and Artificial Intelligence to Renovate traditional retail models
5.6. Recommendation about Success Factors of Developing Retail Centres
5.7. UAE Case Studies of Major Retail Malls
Dubai Mall
Yas Mall

6. UAE Hotel Real Estate Market

6.1. UAE Hotel Real Estate Market Overview
6.2. Dubai Hotel Real Estate Market Overview
6.2.1. Dubai Current and Future Hotel Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxeand Superior Hotel Apartments, Standard Hotel Apartments), 2018
Supply by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe and Superior Hotel Apartments, Standard Hotel Apartments), 2025F
6.2.2. Dubai Current and Future Hotel Demand (2019F-2025F)
Demand by Type Of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Standard Hotel Apartments), 2018
Demand by Type Of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Standard Hotel Apartments), 2025F
6.2.3. Supply and Demand Gap
6.3. Abu Dhabi Hotel Real Estate Market Overview
6.3.1. Abu Dhabi Current and Future Hotel Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Superior Hotel Apartments and Standard Hotel Apartments), 2018
Supply by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Superior Hotel Apartments And Standard Hotel Apartments), 2025F
6.3.2. Abu Dhabi Current and Future Hotel Demand (2019F-2025F)
Demand by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Superior Hotel Apartments And Standard Hotel Apartments), 2018
Demand by Type of Hotel (5-Star, 4-Star, 3-1 Star, Deluxe Hotel Apartments, Superior Hotel Apartments And Standard Hotel Apartments), 2025F
6.3.3. Supply and Demand Gap
6.4. Recommendations Regarding Success Factors for Developing Hotels in UAE
6.5. UAE Major Completed And Upcoming Hotel Projects
6.6. Case Studies of Major Hotels in UAE
Marriot International Group (Four Points By Sheraton)
Novotel Abu Dhabi Al Bustan

7. UAE Office Real Estate Market

7.1. UAE Office Real Estate Market Overview
7.2. Dubai Office Real Estate Market Overview
7.2.1. Dubai Current and Future Office Market Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply by Types of Offices (Premium, Type A and Type B), 2018
Supply by Types of Offices (Premium, Type A and Type B), 2025F
7.2.2. Dubai Current and Future Office Real Estate Market Demand, 2013-2025F
Demand by Type of Office (Premium, Type A and Type B), 2018
Demand by Type of Office (Premium, Type A and Type B), 2025F
7.2.3. Supply and Demand Gap
7.3. Abu Dhabi Office Market Overview
7.3.1. Abu Dhabi Current and Future Office Market Supply, Average Rental Rates and Occupancy Rates, 2013-2025F
Supply By Types of Offices (Premium, Type A and Type B), 2018
Supply By Types of Offices (Premium, Type A and Type B), 2025F
7.3.2. Abu Dhabi Current and Future Office Real Estate Market Demand, 2013-2025F
Demand by Type Of Office (Premium, Type A and Type B), 2018
Demand by Type Of Office (Premium, Type A and Type B), 2025F
7.3.3. Supply and Demand Gap
7.4. Success Factors for UAE Office Market
7.5. Case Studies of UAE Office Properties
Emaar Business Park

8. Northern Emirates Real Estate Market, 2018

8.1. Northern Emirates Real Estate Market Overview
8.1. Snapshot of Sharjah Real Estate Market
8.2. Snapshot of Ajman Real Estate Market
8.3. Snapshot of Ras-Al-Khaimah Real Estate Market
8.4. Snapshot of Fujairah Real Estate Market
8.5. Snapshot of Umm Al Quwain Real Estate Market

9. Snapshot on Property Technology

Overview on Virtual Reality and Augmented Reality Company- SENSE-R
Overview on Virtual Reality and Augmented Reality Company- TakeLeap
Case Study on Sharing Economy-AirBnb
UAE Real Estate Online Classifieds Business Model
Profile of Property Finder and Just Properties
Profile of Bayut UAE

10. UAE Industrial Real Estate Market, 2018

10.1. Overview of Industrial Real Estate Market in UAE

11. UAE Co-working Space Snapshot

11.1. Market Overview and Genesis

12. Government Regulations

12.1Ownership of Real Estate
12.2Registration of Property Interests, Abu Dhabi
12.3Registration of Property Interests, Dubai
12.4Foreign Investment In Abu Dhabi
12.5Foreign Investment in Dubai
12.6Industry Associations
12.7Lease for Business Permission

13. UAE Real Estate Market Competitive Landscape

13.1. UAE Real Estate Market Major Real Estate Developers Profiles (Including Parameters such as Overview, Business Verticals International Operations, Recent Developments, Popular Projects, Upcoming Projects, Financials and Others
Emaar Properties
DAMAC Properties
Nakheel Properties
Meraas
Aldar Properties
Manazel Real Estate
Azizi Developments

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