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Tuesday, 25 September 2007 04:31 |
The commercial property sector in Dubai is experiencing a similar investment boom seen in the residential market three years ago, says DAMAC Properties, the leading private property developer in the Middle East.
In the last twelve months, commercial property in Dubai has seen capital growth of 17 per cent in contrast with 10.2 per cent growth seen in the UK; while annual appreciation over the last two years in Dubai was 23 per cent. This has lead to an increase in the number of small-scale investors and private individuals investing in commercial property to benefit from the favourable rental yields and capital growth.
Rental return on a commercial property in Dubai is approximately 20 per cent - 25 per cent where as residential property now typically yields 14 per cent - 16 per cent return.
Peter Riddoch, CEO of DAMAC Properties pointed out that now is the ideal time to invest in commercial property in Dubai:
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