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Astrep902 2021q2 Abudhabi
Astrep902 2021q2 Abudhabi
The office market continued to be challenging, despite only showing marginal rental
rate reductions in Q2 2020 (annual declines stood at 4%). Instead, landlords offered
incentives in regards to payment terms and conditions (i.e.: rent period, service charge
waiver and/or reduced fit out cost).
*It is important to note that whilst a number of projects may have received completion certificates, Asteco does not consider a project delivered until the handover process has been initiated and the units are available for Lease in the open market.
APARTMENTS
1,700 2,000 9,050
NO. OF UNITS
VILLAS
50 70 300
NO. OF UNITS
% CHANGE
(All figures in AED per sq.ft.) 0 500 1,000 1,500 2,000 Q1 2021 - Q2 2021 Q2 2020 - Q2 2021
CITY OF LIGHTS
750 850 0% 0%
(HYDRA)
CITY OF LIGHTS
750 950 0% 0%
(OTHER PROJECTS*)
4%
Q-o-Q Y-o-Y Since peak Since market low
* Includes Meera Towers and Park View % Change
Since Q1 2021 Since Q2 2020 Q4 2015 Q2 2012
0% 0% -34%
5 Abu Dhabi Real Estate Report - Q2 2021
ABU DHABI
VILLA RENTAL RATES
(All figures in AED 000’s p.a.)
0%* 0% -22% 0%
6 Abu Dhabi Real Estate Report - Q2 2021
ABU DHABI
VILLA SALES PRICES
% CHANGE
(All figures in AED Million) 0 1 2 3 4 5 6 7 8 9 Q1 2021 - Q2 2021 Q2 2020 - Q2 2021
2 BR 1.15
3 BR 1.50
AL REEF VILLAS 2% 8%
4 BR 1.95
5 BR 2.30
-
3 BR 3.05
GOLF GARDENS 0% 0%
4 BR 3.75
5 BR 4.88
-
-
HIDD AL SAADIYAT 0% 0%
4 BR 6.25
5 BR 8.00
2 BR 0.92
3 BR 1.20
HYDRA VILLAGE 0% 0%
-
-
-
3 BR 2.20
RAHA GARDENS 6% 6%
4 BR 2.48
5 BR 3.63
2 BR
SAADIYAT BEACH VILLAS 3 BR 5.00
0% -3%
(STANDARD) 4 BR 5.58
5 BR 7.75
-
-
WEST YAS 0% 24%
4 BR 5.08
5 BR 5.75
1% 2% 18%**
Q-o-Q Y-o-Y Since peak Since market low
* Excludes West Yas Villas % Change*
Since Q1 2021 Since Q2 2020 Q4 2015 Q4 2012
** Includes Raha Gardens, Golf Gardens & Al Reef Villas only. Later averages
are reflective of an increase in new developments of higher quality.
-14%
7 Abu Dhabi Real Estate Report - Q2 2021
ABU DHABI
OFFICE RENTAL RATES
(All figures in AED per sq.m. p.a.)
21 Hydra Village 36 8
4
22 Khalidia / Al Hosn / Al Manhal 38
23 Khalifa City A 29
24 Khalifa City B
25 Maryah Island
26 MBZ City 24
27 Mina 26
22
11
HP Aengaar John Allen James Joughin Jenny Weidling Ghada Amhaz Tamer Ibrahim Chaaban
BSc, MRICS BSc (Hons), MRICS BA (Hons) MSc, MRICS BE
Chief Executive Officer Executive Director - Senior Associate Manager - Research and Advisory, Manager - Research and Ad- Associate Director /
+971 2 408 0800 Valuation & Advisory Director - Head of Valuations Dubai visory, Abu Dhabi General Manager - Al Ain
h.aengaar@provis.ae +971 4 403 7777 +971 4 403 7777 +971 4 403 7777 +971 2 626 2660 +971 3 766 6097
JohnA@Asteco.com JamesJ@Asteco.com JennyW@Asteco.com GhadaA@asteco.com TamerI@asteco.com
DISCLAIMER: The information contained in this report has been obtained from and is based upon sources that Asteco Property Management believes to be reliable; however, no warranty or representation, expressed or implied, is
made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions
imposed by our principals. Asteco Property Management will not be held responsible for any third-party contributions. All opinions and estimates included in this report constitute Asteco Property Management’s judgment, as of the
date of this report and are subject to change without notice. Figures contained in this report are derived from a basket of locations highlighted in this report and therefore represent a snapshot of the UAE market. Averages, however,
represent a wider range of areas. Particularly exclusive or unique projects have been excluded from the data to avoid distorting averages. Due care and attention has been used in the preparation of forecast information. However,
actual results may vary from forecasts and any variation may be materially positive or negative. Forecasts, by their very nature, involve risk and uncertainty because they relate to future events and circumstances which are beyond
Asteco Property Management’s control. For a full in-depth study of the market, please contact Asteco Property Management’s Research team. Asteco Property Management LLC. Commercial License No. 218551. Paid-up Capital
AED 4,000,000. | ORN 180
20210627/astrep902