The head of research and consultancy department in CBRE center in U.A.E, Matt Green, has mentioned that the retail, hotel, and office sectors in Dubai have witnessed a significant development in 2014, while on vice versa, the residential sector development slacked this year compared with 2014.
This hotel sector development goes back to the hiking demand rates which paralleled the tourists increasing numbers in Dubai. The state’s attribution of a pioneering status as investments and business attraction point has strengthened its retail sector condition as well.
The construction of huge malls and shopping centers with various entertainment and recreational facilities like “Sky Mall Dubai” and “Dubai Aquarium” has added also to retail properties market surge.
As for hotel sectors, the occupation rate rose to hit 80% during 2014, which is considered a strong investment incentive. Dubai’s capacity is expected to increase to occupy 9 million visitors by 2017.
1500 rooms will be added in the coming 12 months scattered around Jumeirah Beach Residence, Dubai Marina, Jumeirah Beach, and Jumeirah Palm.