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The country’s banks remain generally sound and profitable, although Tasweek cautions that the gross loans/deposit ratio is nearing 100 per cent, thus indicating more limited room for growth.
According to Tasweek, the domestic population remains on track to hit 18.83 million in 2023 from around 9.9 million in 2014-end to further stretch market demand.
Tasweek affirms a positive correlation between this growth rate and the increase in new UAE real estate projects. Moreover, government measures to dampen speculative activities in real estate and better control credit growth have further streamlined industry, it added.
Property markets in #Dubai and #AbuDhabi set for a stable 2015 – PropertyWire (January 9th, 2015)
Property prices in Abu Dhabi are expected to see a gradual increase in 2015 but not on the scale that was seen in 2104, it is claimed.
Leading property firm Cluttons believes there is still some great investor appetite in Abu Dhabi and predicts that new residential schemes will still be popular.
It also expects that there will be more off-plan housing launches this year, from the leading firms such as Aldar and TDIC as well as some private developers.
Dubai: A proposal to ensure enough affordable housing for ‘mixed-income’ people (low to middle-income) between the labour-class and luxury market is under review, a senior official said.
If made law, the proposal will not only provide more economic stability, but also reduce traffic jams, said Abdullah Rafia, acting director-general for engineering and planning, Dubai Municipality.
Real Estate News in Dubai and the UAE - January 2015
Expecting Your Dubai Villa Rent To Rise in 2015? Read what RERA index says this year and more news on real estate in Dubai and the UAE.