Aldar Properties Expects Abu Dhabi’s Commercial Real Estate Market to Continue to Flourish, with an Increasing Influx of International Companies Helping the Emirate Avoid the Stagnation in Occupancy Rates that other Cities Around the World are Experiencing.
There is significant room for growth in prices and sales across both commercial and residential properties, Faisal Mohammed Abdulrahman Falaknaz, the company’s chief financial officer, said at an event in Abu Dhabi on Monday.
The expansion comes amid an influx of major global financial institutions into Abu Dhabi and Dubai, making them rare bright spots in the global commercial real estate market. Occupancy rates in both cities have remained high, unlike the world’s major commercial hubs. The company plans to build a new skyscraper with offices, a luxury hotel and branded residential units on a plot of land near Dubai’s financial center.