JLL: Abu Dhabi retail rental growth accelerating in 1Q16
In its 1Q16 review of Abu Dhabi’s real estate markets, JLL noted that rental growth for retail property is accelerating. In 1Q15, rental growth had also been accelerating. Total retail supply increased from 2.5 million square metres (gross lettable area) in 2014 to 2.6 million square metres in 2015 to 2.6 million square metres in 1Q16. Additional supply is expected to amount to 65,000 square metres through the remainder of this year, with another 28,000 square metres in 2017 and 382,000 in 2018. Hot topics for the retail market include the recent softening in retail demand due to lower employment and consumer confidence.
Source : JLL/Mar 2016/Abu Dhabi/RET