Strata space development falls out of favour in Dubai

Commercial property developers in Dubai are no longer interested in building strata space because of its unpopularity among tenants, according to CBRE’s UAE head of research, Matthew Green.  Speaking at the media launch of the property adviser’s Dubai Annual Market Update, Mr Green said there had been an increasing polarisation in the commercial sector between the market for prime, single ownership space (particularly in free zones) and strata-owned units.  “Developers aren’t really considering – certainly the majority of them – building strata any more. That idea has flown,” Mr Green said.    Read the article…………..


Related Articles

South Africa: Homeowners association wins lease battle against Tshwane

The city refused to consider renewing the association’s 10 year lease agreement to rehabilitate and develop the Waterkloof Ridge Nature

Malaysia: Platform for strata woes

With more than three million Malaysians living in various stratified buildings, it is hoped that this tribunal will be an

Borneo: Sheda wants draft of proposed amendments to strata title law

The Sarawak Housing and Real Estate Developers Association (Sheda) has asked the Land and Survey Department (LSD) to extend a