UAE | Housing & Property
Abu Dhabi expected to face shortage of housing and commercial space
Residents of Abu Dhabi are likely to face a continued shortage of housing and commercial space as the UAE's largest emirate registers strong economic growth, an official said here yesterday.
- By Mohammad Ezz Al Deen, Staff Reporter
- Published: 00:00 April 10, 2007
Abu Dhabi: Residents of Abu Dhabi are likely to face a continued shortage of housing and commercial space as the UAE's largest emirate registers strong economic growth, an official said here yesterday.
The UAE capital is fast diversifying its oil-dependent economy by investing in property, tourism, aviation and industrial sectors.
"Abu Dhabi started developing its economy heavily with massive projects to release pressure on real estate, but until 2010 the emirate will not be able to meet the demand it faces due to the lack of units in the short term," Andrew Chambers, managing director of Asteco, told Gulf News.
Abu Dhabi's property market offers a huge investment opportunity for both developers and consumers. "Of course, Dubai is the UAE's biggest market, but Abu Dhabi market will grow rapidly in the next few years supported by the huge demand," he added.
Share this article
More from UAE Housing & Property
More from UAE
Popular in UAE
-
XPRESS
Nazi grave off Fujairah
Divers reveal stunning details behind sunken submarine
-
Christmas
Santa's in town
Three volunteers deliver parcels to hundreds of workers in Dubai
-
Crime
Dubai suicide
Acquaintances pursue debt angle, describe family as non-interfering
Latest news
- US-UAE nuclear agreement comes into force
- Thunderstorms to hit UAE on Saturday
- Egyptian murdered near Mall of the Emirates
- Abu Dhabi hotels prepare for festive events
- Kazakhstan opens new embassy complex in Abu Dhabi
- Man gets three years in jail for drug possession
- Two sentenced for death of asthmatic inmate
- Judge disregards lawyer's plea to hear Chechen President's statement
- Seek help when depressed, psychiatrists say
- Roadstar winners cash in by being safe motorists
- No casualties reported in RAK car fire
- Santa comes to town with gifts
- Abdullah and Abbas hold talks on Palestine issue
- Mohammad calls for modern teaching methods
- Sprinklers work while planet pays
UAE Editor's choice
-
Interactive Quiz: Fish of the World
Test your knowledge of the deep by taking our aquatic quiz
-
The world's tallest tower in 24 hours
Changing face of world's tallest tower Burj Dubai from dawn till dusk
-
Yoga under a full moon
Some classic yoga postures that are perfect to perform when the moon is full.
