REAL ESTATE SERVICES Q1-2020 REAL ESTATE MARKET OVERVIEW DUBAI
REAL ESTATE SERVICES
Q1-2020REAL ESTATE MARKET OVERVIEWDUBAI
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
FOREWORD MPM Real Estate Services comprises a comprehensive real estate and advisory platform providing the full range of professional services from a single provider. Our services include:-
y Strategic development advisory
y Investment advisory
y Asset management
y Project management
y Valuation
y Agency
y Market research
y Property management
y Facilities management
REPORT HIGHLIGHTS Residential y During Q1 2020, c.10,000 units were added taking the total residential stock
to c.595,000 units.
y During the quarter, the capital values for apartments across selected developments dropped by 2.6% quarter-on-quarter and 8.8% year-on-year while villas/townhouses witnessed a decline of 3.1% quarter-on-quarter and 8.6% year-on-year.
y The average apartment rents dropped by 3.1% quarter-on-quarter and 8.9% year-on-year. The villas/townhouse segment performed better than the apartments with average rents dropping by 2% quarter-on-quarter and 7% year-on-year.
y The residential sector is likely to remain under stress in the medium term due to Covid-19 pandemic with truncated leasing transactions as tenants are likely to continue with the existing tenancies/negotiate leases and rental payment terms with the landlords. On the supply front, new projects that are slated for delivery are likely to be pushed towards end of the year or next year.
y The rental and sale rates are likely to remain under stress due to subdued demand. However, stimulus packages and easing of the loan to value ratio to have a positive impact on the sales transactions and boost investor confidence.
Office y During Q1 2020, c.675,000 sq.ft. of new office space entered the market
taking the total office stock of Dubai to over 101 million sq.ft.
y The office sale rates dropped marginally by 1% quarter-on-quarter and 7% year-on-year. The highest annual decline of 10% was recorded in Dubai Marina area.
y The average office rents dropped by 3% quarter-on-quarter and 11% year-on-year. The highest annual rental decline was recorded in Barsha Heights area with rents dropping from an average of AED 80 per sq.ft. per annum to AED 68 per sq.ft. per annum in Q1 2020, a decline of 16%.
y The demand for new office space requirement to remain subdued as large corporates look at delaying/postponing expansion plans due the Covid-19 pandemic while the SME’s/new start-ups look at exploring new options of utilizing the serviced/co-working spaces in order to reduce the financial
burden. However, the government’s stimulus package and support from the landlords in the form of deferred rental payments and incentives such as flexible lease extension and rent free period, will help in retaining tenants and maintaining occupancy levels.
Retail y The retail stock of Dubai remained unchanged at 40.7 million sq.ft. GLA as
of end Q1 2020.
y Looking at the ongoing construction activity and projects announced, c.16.0 million sq.ft. GLA is expected to enter the market by 2022. However, factoring into construction delays, a large portion of this supply will be phased out into 2023.
y During the first two months of the year, the retail sector reported strong footfalls and sales at the backdrop of Dubai Shopping Festival and New Year eve. However, the global pandemic resulted in drop in tourists and closure of malls, impacting heavily on the retail sector.
y During the first two months of the year, the retail sector reported strong footfalls and sales at the backdrop of Dubai Shopping Festival and New Year eve. However, the global pandemic resulted in drop in tourists and closure of malls, impacting heavily on the retail sector.
y With tightened travel restrictions and weak demand for non-essential goods due to the Covid-19, the retail sector is likely to see a decline in footfalls and sales in the medium term.
Hospitality y During Q1 2020, c.700 hotel rooms/apartments were added taking the total
hospitality stock of Dubai to over 127,000 hotel rooms/apartments.
y YTD February 2020, Dubai welcomed 3.27 million hotel guests, an increase by 4.1% compared to the same period previous year.
y The Dubai hotels enjoyed over 70% for the first two months of the year. However, amid outbreak of Covid-19, the occupancies started to see a sharp decline in March and recorded its lowest levels in the past five years. With travel restrictions in place, the occupancies are likely to see further declines over the next few months.
y Early estimates from UNWTO, indicates an annual decline in international tourist arrivals by 20% to 30% in 2020 which translates to a decline in international tourism receipts of between US$300-450 billion.
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
FACTS & FIGURES
TABLE OF CONTENT
TOTAL STAFF
130+LARGEST
ABU DHABI MAINLAND PORTFOLIO
75+PROPERTY MANAGMENT STAFF
94.7% 100+bnOCCUPANCY RATE COMBINED MARKET VALUE OF PROPERTIES VALUED SINCE JANUARY 2012
1,400LANDLORD CLIENTS
ADVISORY STAFF
30+UNITS UNDER MANAGMENT
14,000+
25+LEASING & SALES STAFF
20+DEDICATED VALUATION
PROFESSIONALS
Dubai real estate performance Q1 2020 .......................................................................................................4
Real estate trends .............................................................................................................................................. 5
Residential sector ...............................................................................................................................................6
Office sector ...................................................................................................................................................... 10
Retail sector ....................................................................................................................................................... 12
Hospitality sector ............................................................................................................................................. 14
Definitions & methodology ........................................................................................................................... 16
Contact information ........................................................................................................................................ 17
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
DUBAI REAL ESTATE PERFORMANCE - Q1 2020
LUXURY
HIGH END
MID-MARKET
AFFORDABLE
OFFICE
RETAIL
HOSPITALITY
SUPPLY RENT/ADR* SALE RATE DEMAND
*AVERAGE DAILY ROOM RENT
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
REAL ESTATE TRENDS DUBAI LAND TRANSACTION
TOP RESIDENTIAL INVESTMENT LOCATIONS - Q1 2020
AED.40.84bnTOTAL TRANSACTIONS
11,005
TYPE VOLUME VALUE (‘billion AED)
SALES 4,892 13.28
MORTGAGE 6,213 27.56
TOTAL 11,005 40.84
Emirates Living
JumeirahVillage Circle
1,175mln695units
610mln243units
233mln64units
1,072mln277units
362mln217units
510mln164units
297mln65units 639mln
341units
926mln553units
650mln193units
EMIRATES LIVING
JUMEIRAH VILLAGE CIRCLE
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
RESIDENTIAL MARKETSUPPLY
y During Q1 2020, c.10,000 units (apartments/villas/ townhouses) were added to the residential supply of Dubai taking the total residential stock to c.595,000 units. Of the total quarterly supply, 78% constituted apartments and 22% villas/townhouses.
y In terms of supply by location, 27% of the new supply in Q1 2020 emerged from the Dubailand area followed by Bur Dubai with 18%. Other key supply areas were Deira accounting for a share
of 12% while Jumeirah Village Circle, Production City (IMPZ), Dubai South and Dubai Silicon Oasis accounted for a share of 6% each.
y Looking at the ongoing construction activity and timeline provided by the developers, the Dubai residential market is expected to see addition of c.42,000 new units by end of 2020. However, looking at the current market condition, it is expected a large proportion of this supply will be shifted to 2021
SALE RATES
y During Q1 2020, 4,204 residential properties (apartment/villa/townhouse/ service/hotel apartment/villa plot) were transacted with a cumulative value of AED 7.53 billion, an annual increase of 15.7% in value terms. However, on quarter-on-quarter basis, the transactions dropped by 9% in volume terms and 14% in value terms. In terms of transaction by ticket size, around 74% of the total transactions during the quarter were for properties valued at less than AED 2.0 million.
y The developments of Dubailand, Mohammed bin Rashid City (including Meydan), Emirates Living, Downtown Dubai, Dubai Marina and Jumeirah Beach Residences accounted for a share of 56% of the total transaction value in Q1 2020. Dubailand recorded AED 1.01 billion worth of transaction across 649 properties, calculating to an average transaction of AED 1.5 million per property.
Uni
ts (
'000
)
400
450
500
550
600
650
700
2014 2015 2016 2017 2018 2019 Q12020
Q2-Q42020
2021 2022
Existing Supply Apartments Supply Villas
RESIDENTIAL SUPPLY BY UNITS - (2014 - 2022)
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
y During the quarter, the capital values for residential properties across all locations registered a decline. The apartment sale rates across selected developments dropped by 2.6% quarter-on-quarter and 8.8% year-on-year.
y The developments which have been in the market for over a decade recorded a sharp decline in the past 12 months. Among these developments include the Old Town area of Downtown Dubai wherein the sale rates have dropped by 15% year-on-year while residential units in the Greens and
Dubai Marina registered a decline of 10% each over the same period last year. The average sale rates in Jumeirah Beach Residences dropped from AED 1,650 per sq.ft. in Q4 2014 to AED 1,050 per sq.ft. in Q1 2020, registering a drop of 36% from the peak.
y The rate of decline within villas/townhouses segment was similar to that of the apartments. The average sale rates for villas/townhouses witnessed a decline of 3.1% quarter-on-quarter and 8.6% year-on-year.
AVERAGE APARTMENT SALE RATES - Q1 2020
AVERAGE VILLA SALE RATES - Q1 2020
-16%
-14%
-12%
-10%
-8%
-6%
-4%
-2%
0%0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
DowntownDubai
Old Town DIFC PalmJumeirah
The Views DubaiMarina
BusinessBay
JumeirahBeach
Residence
TheGreens
Y.o.
Y ch
ange
(%)
Ave
rage
Sal
e Ra
tes
(AED
/sq.
ft.)
-12%
-9%
-6%
-3%
0%0
400
800
1,200
1,600
2,000
PalmJumeirah
The Lakes DubaiSports City
ArabianRanches
JumeirahPark
Springs &Meadows
JumeirahVillage
Al Furjan
Y.o.
Y (C
hang
e %
)
Aver
age
Sale
Rat
es (A
ED/s
q.ft
.)
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
RENTAL RATES
y During Q1 2020, the average apartment rents dropped by 3.1% quarter-on-quarter and 8.9% year-on-year. However, there are several locations which have seen a rental deflation more than the annual average.
y Increase in supply of new units over the past 15 months in Dubailand Residences has severely impacted the rental movement. Overall, the development recorded a rental drop of 12.7% year-on-year with studio units registering a 20% decline and one bedroom units 11.6%.
y Within the leasehold areas, the highest annual decline of 12% was recorded in Al Qusais area. Increase in supply from surrounding areas along with tenant migration towards larger units resulted in a sharp decline in rents. The studio and one bedroom units in the area saw a decline of 13.4% and 15.6% respectively.
y Despite entry of new properties, the villas/townhouse segment performed better than the apartments with the average rents dropping by 2% quarter-on-quarter and 7% year-on-year.
y Within the villa segment, the decline was relatively high across smaller unit sizes of two and three bedrooms. Attractive rental rates along with landlord incentives led to tenant migration to larger units, resulting in a sharp decline in rents. Year-on-year, two bedroom units registered a decline of 7.8% and three bedroom units dropped by 8.3%. The lowest decline of 6.14% was recorded for five bedroom units.
y In terms of decline by community – villas/townhouses in Dubai Silicon Oasis, Motor City, Living Legends, Al Waha and the Springs recorded an annual decline of over 10%.
y The majority of the new supply of villa/townhouses remained towards Al Qudra corridor with new residential units emerging from the developments of Akoya Oxygen, Town Square, Arabian Ranches II, Mira Oasis and Arabella 2. Over the past 12 months c.6,500 villas/townhouses were added within these communities, which to a large extent impacted on the rents and occupancy rates within these areas.
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
BarshaHeights
JumeirahBeach
Residence
58K78K95K 125K
Studio1 Bedroom2 Bedroom3 BedroomY.o.Y % Change
-10.8%
DowntownDubai
-83K109K 138K
-6.7%
45K63K88K 118K
-6.8%
54K79K105K 160K
-9.1%
63K88K113K 163K
-7.0%
42K59K88K 103K
-10.2%
48K73K93K 133K
-10.6%
42K60K80K 98K
-9.3%
44K63K85K 110K
-10.5%
22K33K48K 67K
-10.0%
30K45K76K -
-7.4%
AVERAGE APARTMENT ANNUAL RENTS – Q1 2020
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
2 Bedroom3 Bedroom4 Bedroom5 BedroomY.o.Y % Change
JumeirahBeach
Residence
Al Furjan
Meadows
DowntownDubai
-4.8%
--180K 225K
-5.3%
-255K323K 400K
-5.1%
-175K193K 220K
-10.1%
95K125K- -
-7.1%
--205K 285K
-9.8%
-113K135K 160K
-7.7%
103K133K180K 225K
-9.8%
-118K155K 205K
-7.9%
100K110K128K 140K
-5.5%
-180K245K 285K
AVERAGE VILLA ANNUAL RENTS – Q1 2020
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
OFFICE MARKET y During Q1 2020, c.675,000 sq.ft. of new office
space entered the market taking the total office stock of Dubai to 101 million sq.ft. Notable addition during the quarter was the Business Park at Dubai Hills Estate which comprises four low rise office buildings.
y Based on the project timelines provided by the developers, the office market is expected to see addition of c.7.2 million sq.ft. of space during the period 2020 to 2022, an average of 2.4 million sq.ft. per annum.
y Restrictive construction of strata space and weak demand has over the years helped in curbing new office supply. Compared to the period 2014-2016 wherein the average yearly new office supply was 4.3 million sq.ft., the supply has almost halved to 2.2 million sq.ft. per annum during the period 2017-2019
y List of prominent new office projects expected to enter include office towers in Dubai Airport Freezone Zone, Dubai Commercity and head quarter buildings of Dubai Electricity & Water Authority (DEWA) and Empower.
y During Q1 2020, a total of AED 249.3 million worth of office transactions were completed across a cumulative space of 343,335 sq.ft., averaging at a transaction value of AED 726 per sq.ft. The office transaction continue to witness a decline in value over the past 3 years due to weak demand. The majority of the transactions during the quarter were for office sizes of less than 2,500
sq.ft.
y Business Bay, Jumeirah Lakes Towers and Barsha Heights were the most active locations accounting for 88% of the total office transactions in Q1 2020. Business Bay area recorded AED 128.6 million worth of transaction for a cumulative space of 138,000 sq.ft., calculating to an average transaction value of AED 933 per sq.ft. Jumeirah Lakes Towers recorded total office transactions worth AED 74.87 million, at an average transaction rate of AED 654 per sq.ft.
y The office sale rates dropped marginally by 1% quarter-on-quarter, 7% year-on-year. Dubai Marina recorded the highest annual decline in sale rates, with the average sale rates dropping from AED 1,300 per sq.ft. in Q1 2019 to the current levels of AED 1,175 per sq.ft., registering an annual decline of 10% and 33% from the peak.
y The average office rents dropped by 3% quarter-on-quarter and 11% year-on-year. The highest annual rental decline was recorded in Barsha Heights with rents dropping from an average of AED 80 per sq.ft. per annum to AED 68 per sq.ft. per annum in Q1 2020, a decline of 16%.
y Increase in supply, weak demand and relatively high vacancies across properties is impacting rents across wide market segment. The newly entered office space from the Business Park in Dubai Hills Estate is currently offered at a rent of AED 105 per sq.ft. per annum (all inclusive).
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
DUBAI OFFICE STOCK GROWTH (2008-2022)
30.0
45.0
60.0
75.0
90.0
105.0
120.0
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q12020
Q-2Q42020
2021 2022
Existing Space ('million sq.ft.) New Addition ('million sq.ft.)
AVERAGE OFFICE RENTS - Q1 2020
110
110
70 50 45 45 90
340
140
125
110 14
0
90
165
0
50
100
150
200
250
300
350
DIFC DowntownDubai
Sheikh ZayedRoad
Business Bay Jumeirah LakesTowers
Barsha Heights DIC & DMC
Aver
age
Rent
s AE
D/s
q.ft
. p.a Low High
AVERAGE OFFICE SALE RATES - Q1 2020
1,72
5
1,52
5
1,17
5
900
840
750
0
400
800
1,200
1,600
2,000
DowntownDubai
DIFC Dubai Marina Business Bay Jumeirah LakeTowers
Barsha Heights
Ave
rage
Sal
e Ra
tes
(AED
/sq.
ft.)
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
RETAIL y The retail stock of Dubai remained unchanged at
40.7 million sq.ft. GLA as of end Q1 2020. Few of the key retail centres which are slated for opening during the year include Dubai Hills Mall in Dubai Hills Estate, Al Khail Avenue in Jumeirah Village Triangle, and Cityland Mall in Dubailand. The phase 1 of Cityland mall opened in Q2 2019 with anchor tenant being Carrefour hypermarket.
y Looking at the ongoing construction activity and projects announced a further c.16.0 million sq.ft. GLA is expected to enter the market by 2022. However, factoring into construction delays, a portion of this supply will be phased out into 2023. This new supply will further pose a
challenge on the retail performance primarily for the secondary malls that are already struggling to achieve decent occupancy and footfall levels.
y During the first two months of the year, the retail sector reported strong footfalls and sales at the backdrop of Dubai Shopping Festival and New Year eve. However, the global pandemic resulted in drop in tourists and closure of malls, impacting heavily on the retail sector. The mall operators were quick to respond in reducing the burden of the retailers by offering rent free period of the existing as well as for new tenants who have signed for the space.
24.5 27.1 27.9 28.4 28.7 30.0 32.6 34.5 35.5 37.1 40.7 40.7 47.7 53.0
2.6 0.70.5 0.3 1.3
2.61.8 1.00
1.73.5
7.0
5.33.7
0
10
20
30
40
50
60
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q12020
Q2-Q42020
2021 2022
GLA
sq.
ft. (
mill
ion)
Stock Expected - *Includes all retail malls with a GLA greater than 25,000 sq.ft.
DUBAI RETAIL MALL STOCK (2010-2022)
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
PRIME SHOPPING MALL AVERAGE RENTS Q1 2020
RETAIL SUPPLY PRE 2010 NEW SUPPLY DELIVERED - (2010 - Q1 2020)
12%
17%
14%
23%
34%
Community
NeighborhoodRegional
Sub-RegionalSuper Regional
25%
19%19%
16%
21%
NeighborhoodCommunity
RegionalSub Regional
Super Regional
DUBAI RETAIL MALLS BY SIZE Q1 2020 DUBAI RETAIL MALLS GLA BY AREA Q1 2020
Neighborhood
Community
15%
Regional
16%
Sub Regional
20%
Super Regional
29%20%
Super Regional: 2m sq ft+
Regional: 1m-2msq ft.
Sub-Regional: 500-1m sq ft
Community: 200-500,000 sq ft
Neighborhood: 0-200,000 sq ft
Deira
Mirdif
Downtown/Business Bay
Bur Dubai
Barsha
Dubailand
Dubai Marina
Jebel Ali
Jumeirah
Al Quoz
Al Wasl
Al Warsan
Other Areas
17%
10%
14%
8%
9%
4%6% 7%
6%
5%
2%
9%
3%
-
200
400
600
800
1,000
1,200
ANCHORS HYPERMARKET FLAGSHIPS FOOD COURT
AED
/SQ
.FT.
The rents quoted above are base rents excluding any turnover provisions and service charges
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
HOSPITALITY y During Q1 2020, c.700 hotel rooms/apartments
were added taking the total hospitality stock of Dubai to over 127,000 hotel rooms/apartments. Few of the new hotel openings during the quarter include Crowne Plaza Dubai Marina and Al Manor by JA in Al Furjan area.
y Analysis of under construction hotel projects highlights further 5,000 hotel rooms/apartments are expected to be added during the course of 2020. However, due to Covid-19 pandemic, a large proportion of this supply will be pushed to 2021.
y YTD February 2020, Dubai welcomed 3.27 million hotel guests, an increase by 4.1% compared to the same period previous year. The top five source markets during this period topped by India
with 382,000 guests followed by Saudi Arabia 373,000 guests (36% increase from the previous year). Guests from United Kingdom accounted for 204,000 guests, Russia 191,000 guests and Oman 172,000 guests.
y The Dubai hotels enjoyed over 70% for the first two months of the year. However, amid outbreak of Covid-19, the occupancies started to see a sharp decline in March and recording its lowest levels in the past five years.
y Early estimates from UNWTO, indicates an annual decline in international tourist arrivals by 20% to 30% in 2020 which translates to a decline in international tourism receipts of between US$300-450 billion.
HOTEL LOCATION NUMBER OF KEYS
Crowne Plaza Dubai Marina 280
The Manor by JA Al Furjan 247
Radisson Red Dubai Silicon Oasis 171
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
DUBAI HOTEL ROOMS GROWTH - (2012 - 2022)
DUBAI HOTELS PERFORMANCE - Q1 2020 YTD
79 80 84 92 97 104 108 117 126 127 132 140
1 48
4.76.8
4.99.1
8.80.7 5.5
7.46.0
0
25
50
75
100
125
150
2012 2013 2014 2015 2016 2017 2018 2019 Q12020
Q2-Q42020
2021 2022
No.
of R
oom
s ('0
00s)
Existing Supply New Supply
0%
20%
40%
60%
80%
100%
0
200
400
600
800
1,000
1,200
Jan-
14
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
15
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
16
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
17
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
18
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
19
Mar
ch May
July
Sept
embe
r
Nov
embe
r
Jan-
20
Mar
ch
ADR (AED) RevPAR (AED) Occupancy (%)
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
DEFINITIONS & METHODOLOGY
BESPOKE CLIENT RESEARCH
DISCLAIMER
y The geographic extent of the study area covers the key districts in Dubai.
Residential y New residential developments are classified as
delivered and thus entered into the new supply category when they are made available for occupation. This is verified via a combination of site inspections and discussion with the developer and hence our supply numbers do take into consideration the phased release of large projects.
y Rental and sales trend analysis is based on transactional data derived from the MPM Properties Agency team and data sourced from developers and owners.
Offices y New office developments are classified as
delivered and thus entered into the new supply category when they are available for tenant fit-outs.
y Given the general lack of transparency in the local market rents quoted are headline
rents, thus exclude any rent free period of other financial incentives that may have been negotiated between the parties. The rents quoted are also exclusive of service charges.
Retail y New retail developments are classified as
delivered and thus entered into the new supply category when the first units are open and trading.
y Our classification of malls is based on our own assessment having regard to size and the catchment area which the mall typically penetrates.
Hospitality y New hotels are classified as delivered and thus
entered into the new supply category when they are opened and trading.
Future Supply Projections y Our future supply projections across all sectors
are based on a combination of regular site inspections and discussions with developers.
y The ADIB Real Estate Services team covers all sectors of the real estate market. We provide bespoke market research to our valued clients to meet their specific requirements.
y We provide reports, information and presentations derived from primary market data
that directly assist our clients to save or make money from real estate and shape strategies to enhance value.
y of regular site inspections and discussions with developer
Research Study Area
The information contained in this report has been obtained from and is based upon sources that MPM Properties believes to be reliable, however, no warranty or representation, expressed or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals. MPM Properties will not be held responsible for any third-party contributions. All opinions and estimates included in this report constitute MPM Properties, as of the date of this report and are
subject to change without notice. Figures contained in this report are derived from a basket of locations highlighted in this report and therefore represent a snapshot of the Dubai market. Due care and attention has been used in the preparation of forecast information. However, actual results may vary from forecasts and any variation may be materially positive or negative. Forecasts, by their very nature, involve risk and uncertainty because they relate to future events and circumstances which are beyond MPM Properties’ control. For a full in-depth study of the market, please contact MPM Properties team.
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Q1-2020 | REAL ESTATE MARKET OVERVIEW | DUBAI
A COLLABORATIVE TEAM PROVIDINGOUR INTEGRATED SERVICES
MOHAMMED FAHEEM Manager Strategic Advisory & Research T: +971 (0)4 371 9471 M: +971 (0)50 684 5220 [email protected]
JUBRAN AL HASHMI Head of Property Management T: +971 (0)2 610 0232 M: +971 (0)50 122 0041 [email protected]
HUSSEIN ASSAAD SADAKA Leasing Manager T: +971 (0)2 6100359 M: +971 (0)50 5833354 [email protected]
KHALDOUN MUSA DARWISH Property Advisor T: +971 (0)2 610 0232 M: +971 (0)564431060 [email protected]
JASON FIELDEN Senior Valuation Manager T: +971 (0)2 510 0653 M: +971 (0)56 244 7696 [email protected]
KHALED SOLEH Head of Valuation & Advisory T: 971 (0)2 610 0085 M: +971 (0)50 722 9718 [email protected]
ABDULLAH SAID AL KUWEITI Director of Business Development T: +971 (0)2 610 1554 M: +971 (0)50 623 5854 [email protected]
YOUSEF AL ZAROONI Head of Owner’s Association T: +971 (0)3 708 8636 M: +971 (0)50 600 1002 [email protected]
MOHAMED AL ZOUBI COO BSc Civil Engineering T: +971 (0)2 610 0564 M: +971 (0)50 310 3570 [email protected]
KHALID ALI ALMANSOORI Executive Chairman T: +971 (0)2 610 0119 M: +971 (0)50 411 1161 [email protected]
INTEGRATED SERVICES COVERING THE FULL PROPERTY LIFECYCLE
Property Management
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Research & Strategic AdvisoryAgency (Sales & Leasing)
Valuation
ABU DHABI HEAD OFFICE ADIB Building on Ground Floor,
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Tel. +971 (0)4 371 9462 Fax. +971 (0)2 6100514
AL AIN OFFICE 201-204 ADIB Ladies Branch Building Oud Touba Street, Al Ain
Tel. +971 (0)3 703 9521 Fax. +971 (0)3 6100514
SHARJAH OFFICE AL Ikhlas Tower,Next to Ikhlas Mousque, AL Khan - Shajrah
Tel. +971 (0)6 5972555
Fax. +971 (0)6 5753553
Enhancing value for individual & institutional property owners: Prompt leasing & debt collection
Effectively market & lease vacant units
Physical & technical maintenance of asset
Maintain tenant satisfaction
Timely lease renewals
Manage risk, insurance & litigation
Protect your interests and enhance value
Complete Project Management services at planning & construction stage:
Engineering Review & Scheduling
Cost Estimate & Procurement
Project Monitoring
Cost Control & Accounting
Assist with Permits & Licensing
Ensure appropriate fund movement for Escrow based on Project Assessment
Aiding developers and investors to maximize value:
Investment Advisory & Due Diligence
Investment Management
Disposal Strategy
Portfolio Review & Optimization
Deal Structuring & Capital Sourcing
Investment Sale
We work with developers, commercial tenants, retailers and individuals, offering:
Launch Strategy
Project Launch Handling
Project Marketing Events
Acquisitions
Leasing
Sales
We cover all sectors, including residential, commercial, industrial, retail, and land.
Bankable studies for your real estate and business needs:
Highest & Best Use
Market & Financial Feasibility
Development Strategy
Market Research
Corporate Real Estate Strategy
Master-plan and design review
Valuation reports for:
Mortgage & Finance
Securing Project Funding
Internal Accounting
Mergers & Acquisitions
Investment appraisal
Litigation
Inheritance
We cover all asset classes. Our reports are in compliance with the International Valuation Standards (IVS) and the RICS Professional Valuation Standards.
www.mpmproperties.ae
MOHAMED AL ZOUBI COO BSc Civil Engineering T: +971 (0)2 610 0564 M: +971 (0)50 310 3570 [email protected]
KHALID ALI ALMANSOORI Executive Chairman T: +971 (0)2 610 0119 M: +971 (0)50 411 1161 [email protected]