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Dubai Outlook 2017: ValuStrat

December 2016

December 28, 2016 | 9:30 | Dubai

As per ValuStrat, UAE GDP is expected to accelerate to 3.4% in 2017. After the trough of 2016, some residential prices are expected to witness a soft recovery towards peak seen in 2014. Rents are expected to stay flat, resulting in slightly compressed yields. Sub-prime office space to continue rental reductions, while prices to remain flat. Increased competition from short-term holiday homes is expected to affect serviced apartment sector. Better hotel performance driven by additional tourists seeking newly opened attractions. Other pointers

  • Economy

To look out for: impact of USA federal interest rate rise, currency fluctuations and OPEC agreement on oil prices.

 

  • Hospitality

New hotels due in ‘17: Holiday Inn Festival City, Waldorf Astoria DIFC, Viceroy Dubai, Bulgari Resort & Residences, Venu Bluewaters Island

 

  • Tourism

New attractions: Dubai Frame, Madame Tussauds, Dubai Safari Village, Dubai Crocodile Park

 

  • Residential

DLD expected to complete rental star rating system by end-2017 for all buildings completed before 2010. Completion of design phase and majority of infrastructure, main construction to begin

 

  • Infrastructure

12-lane Shindagha bridge connecting the historic districts of Al Shindagha and Al Ras to begin

 

  • Retail

Park Inn Radisson and mall complex to open in Motor City construction

 

Source Infographic available here

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