{"id":6155,"date":"2018-04-17T06:25:31","date_gmt":"2018-04-17T06:25:31","guid":{"rendered":"http:\/\/middleeastevents.com\/blog\/?p=6155"},"modified":"2018-04-17T06:25:31","modified_gmt":"2018-04-17T06:25:31","slug":"hospitality-sector-in-abu-dhabi-witnesses-increased-occupancy-levels-while-other-sectors-of-the-real-estate-market-remain-subdued-in-q1-according-to-jll","status":"publish","type":"post","link":"https:\/\/www.middleeastevents.com\/blog\/hospitality-sector-in-abu-dhabi-witnesses-increased-occupancy-levels-while-other-sectors-of-the-real-estate-market-remain-subdued-in-q1-according-to-jll\/","title":{"rendered":"Hospitality Sector In Abu Dhabi Witnesses Increased Occupancy Levels While Other Sectors Of The Real Estate Market Remain Subdued In Q1, According To JLL"},"content":{"rendered":"

The hospitality market in Abu Dhabi registered a 5% increase in occupancy levels in the first quarter of 2018, according to JLL\u2019s Q1 2018 Real Estate Market Overview Report.<\/p>\n

According to the Abu Dhabi Tourism & Culture Authority, the number of guests staying at hotels in the emirate earlier this year rose by 15% \u00a0(compared to Q1 2017) to reach 405,850. This increase was in part driven by \u00a0visas \u00a0now being granted on arrival for Chinese vistors, Abu Dhabi\u2019s largest overseas source market, ahead of India and the UK.<\/p>\n

\u201cWith the UAE now undertaking \u00a0increased business with China, the hospitality sector has witnessed positive sentiment\u201d said Peter Stebbings, Head of Abu Dhabi operations.<\/p>\n

\u201cThe notable increase of Chinese visitors is supported by Abu Dhabi\u2019s Department of Culture and Tourism Authority\u2019s investment into Baidu, the Chinese equivalent of google, which commenced in Q4 of 2017. Attractions such as the opening of The Louvre Museum continued to boost visitor numbers from France\u201d he added.<\/p>\n

Other sectors of the market saw soft conditions, with the residential sector continuing \u00a0to soften in Q1 due to subdued demand and increased supply leading to more vacancies. \u00a0\u00a0The most significant news for this market was the announced joint venture between Aldar and Emaar, which will provide the first opportunity for the Dubai based company to undertake projects in the capital (with Saadiyat Grove being the first such project).<\/p>\n

Office rents have remained relatively stable in Q1, although demand remains low as a result of reduced business growth and low oil prices. The delivery of additional supply at a time of weak demand as well as ongoing corporate consolidations \u00a0are expected to place further downward pressure on rents over the next 12 months, particularly within secondary buildings.<\/p>\n

The retail market has witnessed a softening in market conditions as mall operators are increasingly offering extensive leasing incentives to attract and maintain retailers. \u00a0\u00a0Vacancies have increased and average rental levels have declined over the course of Q1.<\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

The hospitality market in Abu Dhabi registered a 5% increase in occupancy levels in the first quarter of 2018, according to JLL\u2019s Q1 2018 Real Estate Market Overview Report. According to the Abu Dhabi Tourism & Culture Authority, the number of guests staying at hotels in the emirate earlier this year rose by 15% \u00a0(compared […]<\/p>\n","protected":false},"author":1,"featured_media":6156,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/6155","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/comments?post=6155"}],"version-history":[{"count":1,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/6155\/revisions"}],"predecessor-version":[{"id":6157,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/posts\/6155\/revisions\/6157"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media\/6156"}],"wp:attachment":[{"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/media?parent=6155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/categories?post=6155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.middleeastevents.com\/blog\/wp-json\/wp\/v2\/tags?post=6155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}