Abu Dhabi property prices to rise thru 2009
Recent industry data reveals that Abu Dhabi, property prices should continue to rise until 2009.
The expected increase is seen as a result of Abu Dhabi government plans to invest $175 billion in the emirate's economy until 2012, according to Gulf News. In addition, rising oil prices are also expected to drive demand.
Steve Brice, regional head of research for Standard Chartered bank for the Middle East added that the sustained rise is also attributed to the fact that estimates for the release of new property to the market are unlikely to be fulfilled.
- Sale prices in Abu Dhabi's residential property sector up by 17 percent in H1
- Here comes the 'Dubai avalanche'? apartment sale prices in Abu Dhabi on the rise
- Strong demand boosts Abu Dhabi property prices in Q1
- Investors expect Abu Dhabi properties to beat Dubai and Northern Emirates in price appreciation