Commercial property demand and Al Fahidi rehabilitation

Commercial property demand and Al Fahidi rehabilitation

  • AX News
  • Economy and Life in Dubai: growing demand for commercial property, Al Fahidi rehabilitation strategy and attracting foreign capital

Growth in demand for commercial property in Dubai was observed in Q4 2021.

According to the research by the consulting company, JLL. Grade A offices rents in central business district increased up by 2% compared to Q4 2020. The UAE retail market registered a pick-up in footfall and turnover. Retail sales are anticipated to return to pre-pandemic levels by Q4 2022.

The Dubai Government has approved Rehabilitation and Revitalisation of Al Fahidi Historical Neighbourhood Strategy.

It includes:

  • Interactive tours
  • Performing arts stemming from Emirati heritage, etc.

This is part of the strategy for development of creative economy.

In 2021, the UAE attracted $46.4 billion in foreign capital, according to the Institute of International Finance.

Of them: Foreign direct investment (FDI) – $21.8 billion. Portfolio investments – $19.3 billion. Sources: Arabian Business, Gulf News

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