Finance World

“Dubai continued to witness the opening of new hotels in the midscale and upscale segment this quarter with increasing exposure from major international operators as well as local players. We have also seen a continued trend of strong occupancy rates at 86% across the city in Q1.”

The hospitality market in Abu Dhabi registered a 5% increase in occupancy levels in the first quarter of 2018, according to JLL’s Q1 2018 Real Estate Market Overview Report.

The addition of new stock, tough macroeconomic conditions and moderate population growth are set to place further pressure on property sales prices and rental rates in Dubai, according to the latest Observer: Dubai Q1 2018 report from leading international property company Chestertons MENA.

Geopolitical tensions remain the highlight of the week, both on the regional and global fronts, with oil being the highest beneficiary from the shaky scene. Crude oil prices ended the week, at USD 72.58 per barrel, its highest price in 3 years, while WTI price s were up by +8.6% W-o-W.

Dubai Land Department (DLD) has revealed that real estate transactions in Dubai for the first three months of 2018 (Q1 2018) totalled AED 58 billion through 13,759 transactions.