Abu Dhabi’s most vibrant new residential complex at Azure Al Reem has welcomed its first residents, as the new community…
Browsing: Savills
Savills, one of the world’s leading real estate advisors, has released its first comprehensive view of the United Arab Emirates, The UAE Property Report. According to the specialist report, the UAE Government’s increased investment into infrastructure, its commitment to diversifying the economy and positive regulatory changes have paved the way for economic recovery and growth.
According to the latest Savills report, recent tourism growth in Saudi Arabia has been driven by three key demand pools – leisure, pilgrim and corporate visitors. Indeed, according to the most recent annual statistics, travel and tourism accounts for 9.4% of KSA’s total GDP, with traveller expenditure growing by 10.5% annually ($14.8bn). As the country diversifies its economy, in line with the Vision 2030 plans, international arrivals are due to increase on average by 4% per annum according to the World Travel and Tourism Council (WTTC), reaching figures of 22.1m by 2025.
International real estate advisor, Savills, has completed the acquisition of Cluttons Middle East, a real estate consultancy business in the Gulf region.
Emirate’s burgeoning SME sector needs to be nurtured, says Core, UAE associate of Savills.