{"id":14848,"date":"2016-05-30T15:46:31","date_gmt":"2016-05-30T08:46:31","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=14848"},"modified":"2016-05-30T14:13:06","modified_gmt":"2016-05-30T07:13:06","slug":"abu-dhabi-may-act-to-address-property-supply-glut-official-says","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-may-act-to-address-property-supply-glut-official-says\/","title":{"rendered":"Abu Dhabi may act to address property supply glut, official says"},"content":{"rendered":"


\nAbu Dhabi’s property market is over-supplied and the government may take steps to address the imbalance, a senior official said on Sunday.Prices in the UAE capital’s residential sector were flat last year, after rising about 25 per cent a year in 2013 and 2014, as affordability levels became stretched and the government cut spending following the slump in oil prices.First-quarter residential prices were little changed and property consultants CBRE last month described buying appetite and overall sentiment as weak. Rival firm JLL warned prices could come under downward pressure if transaction volumes remain low.”Today, when we look at statistics it shows there’s greater supply than demand,” Ali Majid al-Mansouri, chairman of Abu Dhabi’s economic department, told reporters on the sidelines of a business forum.”We are studying this and if there’s a big difference between supply and demand we’ll meet that with innovative solutions to make sure there is a balance,” he said, without elaborating on what measures the government might take.——————————————————\u2022 Where Abu Dhabi rents have risen and fallen, Q1 2016 – click here——————————————————JLL said in a report last month that the market remained stable despite the continued impact of lower oil prices and a reduction in government expenditure.”While there are some initial signs of government spending starting to return – particularly for mega tourism attractions – we expect caution to prevail,” David Dudley, the head of JLL’s Abu Dhabi office said in the report.”The extent to which market stability is maintained very much depends on the return of domestic government spending in spite of a reduction in oil revenues,” he said.Unit completions are at a 10-year low, a situation JLL attributed to wariness on the part of developers, tightening liquidity and stiffer regulation.”We expect transaction volumes to remain low, which may start to put pressure on sales prices,” Mr Dudley said.Abu Dhabi plans to issue tenders for Dh20 billion of infrastructure works over the next two to five years in what will likely be public-private partnerships, Khalifa Al Mazrouei, under-secretary at the emirate’s department of municipal affairs said at the same forum.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Abu Dhabi may act to address property supply glut, official says<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi’s property market is over-supplied and the government may take steps to address the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-14848","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-3Ru","jetpack-related-posts":[{"id":159303,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/al-reem-island-property-prices-surge-38-in-q2-2025-cementing-lead-as-abu-dhabis-top-investment-hotspot\/","url_meta":{"origin":14848,"position":0},"title":"Al Reem Island property prices surge 38% in Q2 2025, cementing lead as Abu Dhabi\u2019s top investment hotspot","date":"August 14, 2025","format":false,"excerpt":"\r Some Abu Dhabi rents up 21 per cent as demand grows for luxury waterfront living in ADGM\u2019s residential hub\r \r Source : arabianbusiness.com\r Read more...Al Reem Island property prices surge 38% in Q2 2025, cementing lead as Abu Dhabi\u2019s top investment hotspot","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/Al-Reem-Island-in-Abu-Dhabi-1-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":167847,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/modon-awards-abu-dhabis-largest-residential-construction-contract-for-2025\/","url_meta":{"origin":14848,"position":1},"title":"Modon awards Abu Dhabi\u2019s largest residential construction contract for 2025","date":"December 19, 2025","format":false,"excerpt":"\r The contract worth $1.36 billion is for two of its residential developments on Hudayriyat Island \u2013 Nawayef East and Nawayef West The post Modon awards Abu Dhabi\u2019s largest residential construction contract for 2025 appeared first on Arabian Business: Latest News on the Middle East, Real Estate, Finance, and More.\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/12\/Modon-Hudayriyat-Island-Abu-Dhabi-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":424,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/bloom-holding-boss-keeps-the-faith-in-abu-dhabis-housing-appeal\/","url_meta":{"origin":14848,"position":2},"title":"Bloom Holding boss keeps the faith in Abu Dhabi’s housing appeal","date":"December 21, 2015","format":false,"excerpt":"\r \r Veteran developer Sameh Muhtadi was appointed the chief executive of Bloom Holding in April after a 30-year career at companies including Arabtec, Emaar Properties Misr and Orascom Contrack. Mr Muhtadi has been tasked with overseeing Bloom\u2019s ambitious new projects including delivering Bloom Gardens, a partially completed villa project\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":153827,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/betterhomes-dhb-holding-launch-opula-residential-development-in-abu-dhabis-yas-bay\/","url_meta":{"origin":14848,"position":3},"title":"Betterhomes, DHB Holding launch Opula residential development in Abu Dhabi\u2019s Yas Bay","date":"May 20, 2025","format":false,"excerpt":"\r The Opula development will feature a range of units including one to four-bedroom simplexes, duplexes, penthouses, and townhouses\r \r Source : arabianbusiness.com\r Read more...Betterhomes, DHB Holding launch Opula residential development in Abu Dhabi\u2019s Yas Bay","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/05\/Opula-Yas-Bay-Abu-Dhabi-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4806,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-keeping-close-eye-on-housing-stock-as-prices-flatline\/","url_meta":{"origin":14848,"position":4},"title":"Abu Dhabi's Aldar Properties keeping close eye on housing stock as prices flatline","date":"February 15, 2016","format":false,"excerpt":"\r \r Abu Dhabi's Aldar Properties is monitoring the amount of real estate it puts up for sale as it tries to manage the impact of a slowdown in the sector, a company executive said on Monday.He was speaking after the developer reported a 9.1 per cent rise in fourth-quarter\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-residential-rents-to-continue-to-decline-in-2017\/","url_meta":{"origin":14848,"position":5},"title":"Abu Dhabi's residential rents to continue to decline in 2017","date":"February 12, 2017","format":false,"excerpt":"\r Housing rents in Abu Dhabi look set to continue plunging for the first half of 2017 amid continuing economic uncertainty, job losses and cost-cutting measures, property brokers forecast. 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