Approximately 3,800 residential units have been handed over in Dubai already this year.
The majority of handovers during the first quarter of 2018 were in International City, Jumeirah Village Circle and Dubai Studio City, with more than 250 units being handed over in each location. More than 92% of the handed over units were apartments. For the remainder of the year, the majority of upcoming supply is concentrated in Business Bay, Jumeirah Village Circle and Town Square, all of which have more than 2,000 units scheduled for handover before the year end. Of the total scheduled handovers due for the remaining three quarters, approximately 46% of the upcoming supply is expected to be handed over during Q2. Increasing handovers will continue to impact rents in most locations across Dubai as tenants have more choice.
This will also impact occupancies in existing stock and should be factored into net yield estimations for the forthcoming period.
*Statistics and reports provided by Property Monitor powered by Cavendish Maxwell.
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