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A recent report from Cluttons noted that even with commercial real estate rental rates declining in Abu Dhabi, the area may experience an improvement in the market this year.
The report, cited by AMEinfo.com, noted that non-prime commercial property rents have declined by 15 percent in the city since January. Despite this, most prime properties experienced an improved amount of interest, and overall are performing better.
"Within the commercial market, rents continue to soften particularly in secondary stock or non-prime developments," said Paula Walshe, associate director of commercial leasing at Cluttons LLC Middle East, according to the news source.
Prime commercial real estate space is expected to continue to improve throughout the year, Walshe noted, according to the news source. Residential rents in the area are projected to drop, and much of this is due to a continued spike in transactions.
"Within the residential sector, rents continue to fall across many submarkets especially in the new residential districts where the handover of new apartments has happened this year, including Al Reem and Al Raha Beach, Walshe noted.
