GCC residential value to hit $3.43tn says Select Property ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News

Developer Select Property has said that the value of GCC real estate is likely to reach US $4.43tn this year, and show a compound annual growth rate (CAGR) of 2.65% through 2028, to achieve a market volume of $5tn. It added that the GCC’s residential real estate value is on pace to grow at a CAGR of 2.85% to hit $3.43tn. With the region appearing to have sidestepped any negative ramifications of a global recession, investors are leveraging this economic strength by seeking global investment opportunities to diversify their income, the firm stated. Discussing the UK, the developer noted that rental prices are projected to grow by 15.9% between now and 2027, thanks to several key factors inclu

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Last updated : 09 Nov 2023 clock 09:48 AM

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