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U. A. E. real estate outlook

Tuesday, October 19, 2010 - 04:35

October 19, 2010 - Speaker: Gurjit Singh, COO, Sorouh - Presenter: Ruben Ramirez, Reuters.

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It's been a challenging time for the real estate sector here in Dubai in contrast to Abu Dhabi. Well joining us fresh from the Middle East investment summit urgency chief operating officer of server -- Abu Dhabi second largest real estate developer . -- it thank you very much for joining us guys. When you look at the real estate market here in the region commercial versus residential -- UC the most opportunities. properties it all depends. -- all of the financing model for projects. Real estate projects here in the region changed -- over the past couple years. Look more. -- has been placed more. Consistency you know. you expect over the next fifteen months for about 8000 higher in residential units to come online in Abu Dhabi. I really be under supply right now in that middle income tears you mentioned that the You mentioned earlier that that you're squarely focused on developing real estate projects and Abu Dhabi. Some others here in the region looking abroad to diversify their portfolio is. Can you quantify how much of an opportunity there is four for real estate developments and Abu Dhabi. But I think this. with purchasing chief operating officer of -- Abu -- second largest real estate developer . And your body armor and Ramirez and this is Reuters. -- It's been a challenging time for the real estate sector here in Dubai in contrast to Abu Dhabi. Well joining us fresh from the Middle East investment summit urgency chief operating officer of server -- Abu Dhabi second largest real estate developer . -- it thank you very much for joining us guys. When you look at the real estate market here in the region commercial versus residential -- UC the most opportunities. regional perspective what is seen the last couple of years is actually. The incubation all investment create property. And these contingent between quote but managed better managed. Residential properties managed commercial property. These are having longer opinions -- and so it tendencies. And that is the opportunity that he's no bidding war investors coming to -- look at commercial properties that advantage in this group tendency mix and some residential properties it all depends. -- all of the financing model for projects. Real estate projects here in the region changed -- over the past couple years. Look more. -- has been placed more. Consistency you know. Income and that all of the rules of the developments which have. An annuity income wanted to -- it -- someone -- these leases on longer terms established it is. Alarming that an insistent projects -- And this is. Something that is going -- them for the that's going forward if include two. And constantly comfortable wrong on this annuity couple porch. You mentioned earlier that you expect over the next fifteen months for about 8000 higher in residential units to come online in Abu Dhabi. I really be under supply right now in that middle income tears you mentioned that the Abu Dhabi government doing a lot to try and spur investment and and growth in that and that middle incomes here. Do you foresee any projects. Coming online soon that you might be bidding for in this particular tier. Occasional so much -- speaking for such projects but forestry you balk. On such projects on hold because we have hold that back and -- property opportunities to companies. I think the Abu Dhabi authorities approach to encouraging me and income housing. Has to be you and any news -- because it's so -- would approach. And it's going to hunt for food you know -- campus in the market moment ago. From the land bank that you mention how much of that land would you potentially keep putting toward these types of projects. To be premature at this stage to establish exactly how much. But certainly we have more from analysts have -- while some developers more costs Paul. Arranging financing and trying to come back into the market it is a question in -- product. -- or so be you know the proponents of this news composing going forward. You mentioned earlier that that you're squarely focused on developing real estate projects and Abu Dhabi. Some others here in the region looking abroad to diversify their portfolio is. How much of an opportunity. Can you quantify how much of an opportunity there is four for real estate developments and Abu Dhabi. But I think this. Has to be taken from the guidance that means he and the outlook of between entertainment. And that contingency plan has been clearly outlined to the usual wrong. Development strategy for the emanate. A remarkable opportunities in dance floor not for me idealistic. Sector type developments but also broad social infrastructure in terms of schools and hospitals. And candlelight. So -- asset column cost approach is basically what developers should. Been -- it. And -- what these hidden in wolves therefore. Is. Only to view that he should be taken to the pool of auto nation depending -- awful. When it. thank you very much for joint ventures and much pleasure we've been speaking with purchasing chief operating officer of -- Abu -- second largest real estate developer . And your body armor and Ramirez and this is Reuters. --

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U. A. E. real estate outlook

Tuesday, October 19, 2010 - 04:35