Q2-2021 REAL ESTATE MARKET OVERVIEW ABU DHABI
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Q2-2021 REAL ESTATE MARKET OVERVIEW ABU DHABI
2
FOREWORD
MPM Real Estate Services comprises a comprehensive real estate and advisory platform providing the full
range of professional services from a single provider. Our services include:-
y Strategic development advisory y Agency
y Asset management y Market research
y Project management y Property management
y Valuation y Facilities management
REPORT HIGHLIGHTS
Residential Office
y The residential stock of Abu Dhabi saw addition of over 5,000 y During H1 2021, c. 20,000 sq.m. of new space was added taking
units during H1 2021, the highest half-year increase since 2013. the total office stock figure to 4.06 million sq.m. Notable office
The supply figures by development indicates that Reem Island completion during the year was the office tower in Al Jimi Avenue
in Khalidiya area which accounted for about 11,000 sq.m. while
remained the most active development with a contribution of the rest emerged from mixed-use buildings in secondary and
27% of the total new supply followed by Yas Island with 16% tertiary locations with office space spread across mezzanine
and Al Raha Beach development contributed 9% of the new floors.
supply.
y Relatively low take-up levels and weak demand resulted in drop
y As per the projects announced/under construction, c.21,000 in average office rents by 3% quarter-on-quarter and 12% year-
units are expected to be completed during the period H2 2021 on-year. The worst performance remained across grade B space
which saw rents dropped by 17% year-on-year.
to 2023. However, it is estimated that a significant share of
this supply will be moved to 2024, due to construction related y The positive economic outlook with the non-oil GDP expected
delays. to grow by 4% in 2021 and 2022 and the recent announcement
by the UAE Government allowing 100% foreign ownership could
y Existing vacancies and the addition of new supply is exerting spur demand for new office space.
further pressure on the rental and occupancy rates across the
y The strata space which is predominantly concentrated in Al
wider residential market. With limited new workforce entering Reem Island are currently achieving sale rates in the range of
the job market, the leasing activity remained mainly active AED 7,000 to AED 13,000 per sq.m. while the average rents
towards tenant migration. are in the range of AED 600 to 1,000 per sq.m. per annum
(inclusive), depending on the size, location and finishes.
y Average apartment rents remained stable with a negligible
change quarter-on-quarter as landlords are offering extended y As per the projects announced/under construction, c. 250,000
rent free periods along with other benefits than reducing rents. sq.m. of office space is expected to enter the market during the
period H2 2021 to 2023, provided construction delays remain
On an annual basis, the average rents dropped by 4%.
minimal. Most of the supply is expected to be from on-island
y Leasing activity across villa/townhouse segment remains strong and investment areas.
during the quarter due to demand for open livable space, as
tenants are considering switching from apartments to villas/
townhouses. On an average, rents across selected communities
Retail
recorded an increase by 3% year-on-year. The highest increase y The Abu Dhabi retail stock currently stands at 2.76 million sq.m.
in rental values was across three- and four-bedroom units The supply figures remained unchanged during the year, as
which recorded an annual rental inflation of 4.1% and 6.2% several projects that were expected to be completed are either
respectively. experiencing construction delays or being pushed forward due
to the pandemic.
y Average apartment sale rates for completed properties within
y Retail sales, primarily in-store sales, continue to remain
selected communities remained stable during the quarter while under pressure due to a drop in footfall and visitor numbers.
the rates dropped by 5% year-on-year. The investor and occupier However, the Department of Culture and Tourism announced
focus remained towards larger units offering waterfront views plans to organize new retail consumer events, promotions, and
which to an extent helped in reducing the decline gap. campaigns during the year under the umbrella of Retail Abu
Dhabi which could help in boosting retail sales.
y The villa/townhouse performance remained strong since the
beginning of the year due to high demand from the occupiers and y As per the timelines announced and under construction
investors. Relatively high demand and limited supply has led to projects, c.1.1 million sq.m. GLA of retail space is expected to
the strengthening of capital values across selected communities. be completed by 2023, which account for approximately 40%
of the existing space. Looking at the historic trends and likely
y The sale rates for completed villas/townhouses which were on a construction delays, it is expected that a substantial share of this
decline since 2015 started to show an upward movement, with space will be pushed to 2024.
average sale rates across selected communities registering an y Some of the retail destinations expected to enter the market
increase by 4% year-on-year. include Reem Mall on Al Reem Island and Al Qana development
in Al Maqta area.
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI3
FACTS & FIGURES
TOTAL STAFF
LARGEST
120+ ABU DHABI
MAINLAND
PORTFOLIO
PROPERTY MANAGEMENT STAFF LANDLORD CLIENTS
70+ 1,400
ADVISORY STAFF UNITS UNDER MANAGEMENT
30+ 14,000+
DEDICATED VALUATION
LEASING & SALES STAFF
PROFESSIONALS
25+ 20+
COMBINED MARKET VALUE OF PROPERTIES
OCCUPANCY RATE VALUED SINCE JANUARY 2012
94.7% 100+bn
TABLE OF CONTENT
Residential sector................................................................................................................................. 4
Office sector.......................................................................................................................................... 8
Retail sector......................................................................................................................................... 10
Definitions & methodology............................................................................................................. 13
Contact information.......................................................................................................................... 14
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI4
RESIDENTIAL SECTOR
y The residential stock of Abu Dhabi saw addition of performance by individual projects within the
over 5,000 units during H1 2021, the highest half wider Al Raha development indicates that the
yearly increase since 2013. The investment areas prices in Al Bandar dropped by 3.2%, Al Zeina 3.1%
dominated the supply accounting for 62% of the and Al Muneera 1.7% year-on-year.
total supply while the rest of the supply emerged y The rates on Saadiyat Island dropped by an average
from the mainland and on-island areas. In terms of of 5.3% year-on-year, with St. Regis recording
supply by type, about 85% of the supply comprised an annual decline of 6.4% and Saadiyat Beach
of apartments and 15% villas/townhouses. Residences 4.3%.
y The supply figures by development indicates y Other freehold developments of Al Reef and
that Reem Island remained the most active Al Ghadeer saw prices dropping annually by an
development with a contribution of 27% of the average of 3.8% and 4.8% respectively.
total new supply. Some of the projects handed
over in Reem Island include Al Jeel Towers, Eclipse y The villa/townhouse performance remained
towers and phase 2 of the Bridges project. strong since the beginning of the year due to high
demand for large living spaces from the occupants
y Yas Island contributed 16% of the supply with the and investors. Relatively high demand and limited
completion of few towers from Water’s Edge and supply has led to the strengthening of capital
Mayan projects. Once completed, together these values across selected communities. The demand
two projects are expected to add c.2,750 units. Al for villas/townhouses can also viewed from the
Raha Beach development wherein several towers successful off-plan launches on Yas Island which
from the individual private developers are in were well received by investors/end-users.
different stages of construction contributed 9% of
the new supply. y Approximatelly c.670 villas/townhouses were
launched on Yas Island across the sub-communities
y Notable project to be completed on-island during of Noya Viva and Noya Luma. Noya Viva features
H1 2021 include Al Jimi Avenue in Khalidiyah area, a total of 480 units of two and three bedroom
a mix use development offering c.600 residential townhouses and four bedroom villas while Noya
units. Luma comprises of 189 detached three, four and
y As per the projects announced/under construction, five bedroom villas. The starting price for a two-
c.21,000 units are expected to be completed bedroom townhouse Noya Viva is AED 1.65 million
during the period H2 2021 to 2023. However, it in Noya Viva and AED 2.41 million for a three-
is estimated that a significant share of this supply bedroom villa in Noya Luma. Both the projects
will be moved to 2024, due to construction related offer a flexible payment plan of 40% during
delays. the construction phase and 60% on handover.
y Average apartment sale rates for completed Affordable sale rates, attractive payment plan,
properties within selected communities remained demand for larger living spaces and limited
stable during the quarter while the rates dropped availability are some key reasons for the projects
by 5% year-on-year. The investor and occupier achieving high absorption rate.
focus remained towards larger units offering y The sale rates for completed villas/townhouses
waterfront views which to an extent helped in which were on a decline since 2015 started to
reducing the decline gap. show an upward movement, with average sale
y The highest annual decline by development was rates across selected communities registering an
recorded for properties on Reem Island wherein the increase by 4% year-on-year. However, there are
capital values dropped by an average of 7.1% year- developments which have witnessed substantially
on-year. On the wider Reem Island development, higher than the average increase due to strong
the highest annual decline of 8.6% was recorded occupier demand.
in the Gate district while Marina Square saw rates y Within the selected communities, the properties
dropping by 8.1% year-on-year. Average sales rates in Al Reef development recorded an increase in
in the Shams area dropped from AED 1,000 per capital values by 11% year-on-year, with average
sq.ft. in Q2 2020 to AED 950 per sq.ft. in Q2 2021, rates rising from AED 540 in Q2 2020 to AED
registering a drop of 5% year-on-year. 600 per sq.ft. in Q2 2021. Similar growth trends
y Al Raha Beach development saw sale prices were recorded for properties in Al Raha Gardens.
droped by an average of 2.7% year-on-year. The While the average sale rate for a 4 bedroom
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI5
villa in Yas Acres is currently achieving AED 4.5 primary focus of the occupiers remained towards
million compared to AED 3.6 million in Q2 2020, units offering uninterrupted waterfront views,
an increase of 25% year-on-year. However, the resulting in an upward movement in rental values
double-digit capital value increase within a short across waterfront properties. A three-bedroom
span could act as a hindrance for potential end unit in Al Bandar development on the Raha Beach
users from entering the market. is currently averaging at AED 185,000 per unit per
y The properties in Al Ghadeer and Hydra Village annum compared to AED 175,000 per unit per
have recorded an annual decline in capital values annum during Q2 2020, an increase by 6% year-
by 4.5% and 6.3% respectively, which is mainly on-year. Similar trends were recorded across other
due to its location and addition of new supply from waterfront locations.
within the developments. y The leasing activity across the villa/townhouse
y Existing vacancies and the addition of new supply segment remain strong during the quarter, due
is exerting further pressure on the rental and to demand for open livable space, as tenants are
occupancy rates across the wider residential considering switching from apartments to villas/
market. With limited new workforce entering townhouses. On an average, rents across selected
the job market, the leasing activity remained communities have recorded an increase by 3%
mainly active towards tenant migration. Much year-on-year.
of the enquiries during the quarter emerged y The highest increase in rental values was across
from the existing tenants looking for larger space three- and four-bedroom units which recorded
and buildings offering amenities and facilities. an annual rental inflation of 4.1% and 6.2%
Relatively longer void periods are resulting in respectively while five-bedroom units recorded a
landlords extending rent-free periods to as long marginal increase by less than 1%. The rent for a
a 45-60 days along with other benefits of relax three bedroom villa in Al Raha Garden increased
payment terms and free chiller charges. from an average of AED 160,000 per unit per
y Average apartment rents remained stable with a annum in Q2 2020 to AED 175,000 per unit per
negligible change quarter-on-quarter as landlords annum, an increase by 9% year-on-year.
are offering extended rent free periods along with y Except a few communities, the upward rental
other benefits than reducing rents. On an annual momentum was noticed across all key villa/
basis, the average rents dropped by 4%. However, townhouse communities. Average rents in Al
there are a few developments which have seen Mushrif Gardens and Al Ghadeer dropped by 2.8%
rents dropping higher than the average decline. and 3.8% respectively. With phase 2 of Al Ghadeer
The highest decline was recorded for Al Ghadeer development being handed over, the rates within
development which saw rents droped by 10.6% the community are expected to remain under
year-on-year followed by the Gate District on Reem stress during the year.
Island at 8.4%. Existing vacancies and expected y The high-end waterfront properties recorded a
new supply from these developments could further sharp increase in rental values over the past six
impact the rental and occupancy rates. months. The average rent for three bedroom in
y In terms of performance by unit sizes, the smaller Saadiyat Beach Residence increased from AED
units of the studio and one bedroom saw annual 255,000 per unit per annum in Q2 2020 to the
rental deflation of 5.2% and 4.8% respectively current levels of AED 280,000 per unit per annum.
while the rents for two-bedroom units dropped by Similar trend was noticed for three bedroom
3.3% year-on-year. townhouses in Al Zeina which saw rents increas by
y The demand for open and habitable space due to 6.7% year-on-year from AED 178,000 per unit per
the pandemic has resulted in rental inflation across annum to AED 190,000 per unit per annum in Q2
larger units of three bedroom and above. The 2021.
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI6
RESIDENTIAL SUPPLY BY UNITS 2010 - 2023
Running Total New Supply Completed Upcoming Supply
8 6
300 6 8
7 6
5 5
5 4
250 8
13
7 12
10
Residential Units (in '000s)
200
150
100
50
194 204 210 223 235 244 248 253 258 263 270 276 282 290 298
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
APARTMENT SALE RATES - Q2 2021
Q-on-Q -1.0% 0.0% 0.7% 0.0% -0.9% 0.0% 0.8% 0.0% 0.0% 0.0% 0.0%
Y-on-Y -6.4% -4.3% -3.2% -8.6% -5.8% -1.7% -3.1% -8.1% -5.7% -4.8% -3.8%
1,750
Average Sale Rates (AED per sq.ft.)
1,313
875
438
0
St. Regis SBR Al Bandar Gate Shams Al Muneera Al Zeina Marina City of Al Al Reef
District Square Lights Ghadeer Downtown
VILLA SALE RATES - Q2 2021
Q-on-Q 2.1% 3.7% 3.6% 0.0% 0.0% 6.9% 6.2% -1.0%
Y-on-Y 2.1% 1.4% 1.3% 0.0% -4.5% 19.2% 11.6% -6.3%
1,200
900
Average Sale Rates (AED/sq.ft.)
600
300
0
SBV Al Zeina Bloom Golf Gardens Al Ghadeer Al Raha Al Reef Hydra Village
Gardens Gardens
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI7
AVERAGE APARTMENT ANNUAL RENTS Q2 2021
43K 91K - 37K 24K
Studio
1 Bedroom
58K 140K 73K 49K 33K
2 Bedroom 80K 188K 105K 62K 44K
3 Bedroom 125K 263K 140K 80K -
Y.o.Y % Change
AED/unit/annum -4.7% 6.4% -4.4% -5.4% -10.6%
Al Ghadeer
St. Regis
Residence
Al Raha
Shams Beach
Marina
Square
Al Reef
Al Zeina
Downtown
The Gate
District Al Bandar
Al Muneera
46K 45K 65K 48K -
58K 61K 83K 60K 80K
86K 80K 118K 90K 120K
118K 120K 185K 135K 159K
-8.4% -5.0% 0.2% -0.9% -1.0%
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI8
AVERAGE VILLA ANNUAL RENTS Q2 2021
- - 80K 60K 57K
2 Bedroom
3 Bedroom
- 280K 98K 70K 83K
4 Bedroom 215K 293K 135K - -
5+ Bedroom 235K - 145K - -
Y.o.Y % Change
AED/unit/annum 0.0% 8.0% 5.2% -1.2% -3.8%
Al Ghadeer
Saadiyat Hydra
Beach Villas Village
Al Bateen
Al Reef
Park Villas
Al Mushrif
Al Zeina Villas
Gardens
Bloom Al Raha
Gardens Gardens
Golf
Gardens
- - - - -
160K 193K - 145K 190K
175K - 220K 175K 200K
188K 230K 240K 210K -
-2.8% 5.6% 4.5% 5.0% 6.8%
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI9
OFFICE MARKET
y During H1 2021, c. 20,000 sq.m. of new space was remained unchanged while year-on-year, the rates
added taking the total office stock figure to 4.06 dropped by 6% and about 30% from the peak. Due
million sq.m. Notable office completion during to relatively high holding period and weak demand,
the year was the office tower in Al Jimi Avenue in investors are more inclined towards leasing fitted
Khalidiya area which accounted for about 11,000 and, in a few cases, furnished space.
sq.m. of space while rest of the space emerged
from mixed-use buildings in secondary and tertiary y The strata space which is predominantly
locations with office space across on mezzanine concentrated in Al Reem Island are currently
floor. achieving sale rates in the range of AED 7,000 to
AED 13,000 per sq.m. while the average rents are
y The leasing activity remained subdued with much in the range of AED 600 to 1,000 per sq.m. per
of the enquiries being for smaller office space of annum (inclusive), depending on the size, location
less than 25 sq.m. The demand for smaller office and finishes.
space has seen emergence of new serviced office
operators and co-working spaces over the past 6-9 y Looking at the current market environment and
months. weak demand for strata office space, the values
both for rental and sales are expected to remain
y Relatively low take-up levels and weak demand under pressure in the short to medium term and
resulted in drop in average office rents by 3% will see extended rent-free period and landlord
quarter-on-quarter and 12% year-on-year. The incentives.
worst performance remained across grade B
space which saw rents droped by 17% year-on- y As per the projects announced/under construction,
year. Ageing structures and lack of facilities and c. 250,000 sq.m. of office space is expected to
amenities that are demanded by the occupiers is enter the market during the period H2 2021
exerting pressure on rental and occupancy levels. to 2023, provided construction delays remain
minimal. Most of the supply is expected to be from
y The positive economic outlook with the non-oil on-island and investment areas.
GDP expected to grow by 4% in 2021 and 2022 and
the recent announcement by the UAE Government y Further, addition of new space is expected from
allowing 100% foreign ownership could spur the Industrial City of Abu Dhabi (ICAD), ZonesCorp
demand for new office space. The Abu Dhabi has signed an agreement with Block 7 Investments
Department of Economic Development (ADDED) for the development of Block 7 Innovation Hub in
has already listed 1,105 registered commercial ICAD. The development will spread over 820,000
and industrial activities which are open for full sq.m. which will house smart office complexes,
ownership for natural and legal non-citizens. IT facilities, exhibition, retail and entertainment
space
y The transaction activity for strata office space
remained subdued during the quarter with rates
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI10
ABU DHABI OFFICE SUPPLY (2010 - 2023)
4,500 Running Total New Supply Completed Upcoming
4,000
3,500
Office Stock (000's sq.m.)
3,000
2,500
2,000
1,500
1,000
500
-
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
ANNUAL OFFICE SUPPLY BY LOCATION 2010 - Q2 2021
On-Island Off-Island Investment Area
600
500
400
300
200
100
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 H1
AVERAGE OFFICE RENT Q2 2021
Average Rents ( AED per sq.m. per annum)
1,500
1,200
900
600
300
0
Grade A Fitted Grade A S&C Grade B
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI11
RETAIL MARKET
y The Abu Dhabi retail stock currently stands at y The new restrictions announced by the government
2.76 million sq.m. The supply figures remained allowing only vaccinated individuals to retail
unchanged during the year, as several projects avenues from August 20, 2021 could further boost
that were expected to be completed are either shopper’s confidence and support in improving
experiencing construction delays or being pushed footfall and sales volume moving forward.
forward due to the pandemic.
y As per the timelines announced and under
y The neighborhood/ community retail centers which construction projects, c.1.1 million sq.m. GLA
account for a major share of the existing stock are of retail space is expected to be completed by
recording relatively strong occupancy and footfall 2023, which account for approximately 40% of
levels due to their offering targeted towards daily the existing space. Looking at the historic trends
needs of its immediate residential base. and likely construction delays, it is expected that
a substantial share of this space will be pushed to
y Retail sales, primarily in-store sales, continue to 2024.
remain under pressure due to a drop in footfall
and visitor numbers. However, the Department of y Some of the retail destinations expected to enter
Culture and Tourism announced plans to organize the market include Reem Mall on Al Reem Island
new retail consumer events, promotions, and and Al Qana development in Al Maqta area
campaigns during the year under the umbrella of
Retail Abu Dhabi which will help in boosting retail
sales.
ABU DHABI RETAIL SPACE GROWTH - (2009- 2023)
4,000
Running Total New Supply Completed Scheduled New Supply
3,500
GLA (in 000's sq.m.)
3,000
2,500
2,000
1,500
1,000
500
0
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI12
RETAIL SPACE BY CLASSIFICATION
RETAIL SUPPLY PRE-2010 NEW SUPPLY DELIVERED 2010- Q2 2021
8% 15%
5%
33%
14%
45% 14%
28% 14% 24%
RETAIL SUPPLY AS AT Q2 2021 RETAIL DEVELOPMENT PIPELINE
7%
20%
30% 14%
39%
10%
15%
19% 21%
25%
Neighborhood Community Sub-Regional Regional Super Regional
RETAIL SPACE BY LOCATION
PRE-2010 NEW SUPPLY ADDED POST 2010
3%
21%
39%
40%
97%
RETAIL SUPPLY LOCATION AS AT Q2 2021 RETAIL DEVELOPMENT PIPELINE
21%
39%
38%
19% 60%
23%
On-Island Off-Island Investment Area
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI13
DEFINITIONS & METHODOLOGY
Research Study Area
y The geographic extent of the study area covers y Given the general lack of transparency in the
the key districts in Abu Dhabi. local market rents quoted are headline rents, thus
exclude any rent free period of other financial
Residential incentives that may have been negotiated
between the parties. The rents quoted are also
y New residential developments are classified as exclusive of service charges.
delivered and thus entered into the new supply
category when they are made available for
occupation. This is verified via a combination
Retail
of site inspections and discussion with the y New retail developments are classified as
developer and hence our supply numbers do take delivered and thus entered into the new supply
into consideration the phased release of large category when the first units are open and
projects. trading.
y Rental and sales trend analysis is based on y Our classification of malls is based on our
transactional data derived from the MPM own assessment having regard to size and
Properties Agency team and data sourced from the catchment area which the mall typically
developers and owners. penetrates.
Offices Future Supply Projections
y New office developments are classified as y Our future supply projections across all sectors
delivered and thus entered into the new supply are based on a combination of regular site
category when they are available for tenant fit- inspections and discussions with developers.
outs.
BESPOKE CLIENT RESEARCH
y The ADIB Real Estate Services team covers all y We provide reports, information and
sectors of the real estate market. We provide presentations derived from primary market data
bespoke market research to our valued clients to that directly assist our clients to save or make
meet their specific requirements. money from real estate and shape strategies to
enhance value.
DISCLAIMER
The information contained in this report has been change without notice. Figures contained in this report
obtained from and is based upon sources that MPM are derived from a basket of locations highlighted in this
Properties believes to be reliable, however, no warranty report and therefore represent a snapshot of the Abu
or representation, expressed or implied, is made to the Dhabi market. Due care and attention has been used in
accuracy or completeness of the information contained the preparation of forecast information. However, actual
herein, and same is submitted subject to errors, omissions, results may vary from forecasts and any variation may be
change of price, rental or other conditions, withdrawal materially positive or negative. Forecasts, by their very
without notice, and to any special listing conditions nature, involve risk and uncertainty because they relate to
imposed by our principals. MPM Properties will not be held future events and circumstances which are beyond MPM
responsible for any third-party contributions. All opinions Properties’ control. For a full in-depth study of the market,
and estimates included in this report constitute MPM please contact MPM Properties team.
Properties, as of the date of this report and are subject to
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABI14
A COLLABORATIVE TEAM PROVIDING
OUR INTEGRATED SERVICES
KHALID ALI ALMANSOORI MOHAMED AL ZOUBI
Executive Chairman COO
T: +971 (0)2 610 0119 BSc Civil Engineering
M: +971 (0)50 411 1161 T: +971 (0)2 610 0564
khalid.almansoori@mpmproperties.ae M: +971 (0)50 310 3570
mohammedalzoubi@mpmproperties.ae
ABDULLAH SAID AL KUWEITI
Director of Business Development YOUSEF AL ZAROONI
T: +971 (0)2 610 1554 Regional Head - Northern Emirates & Al Ain
M: +971 (0)50 623 5854 T: +971 (0)3 708 8636
abdullahs@mpmproperties.ae M: +971 (0)50 600 1002
yousef.alzarouni@mpmproperties.ae
KHALED SOLEH
Head of Valuation & Advisory MOHAMMED FAHEEM
T: 971 (0)2 610 0085 Manager Strategic Advisory & Research
M: +971 (0)50 722 9718 T: +971 (0)4 371 9471
khaled@mpmproperties.ae M: +971 (0)50 684 5220
mohammed.abdulfaheem@adib.com
JUBRAN AL HASHMI HUSSEIN ASSAAD SADAKA
Head of Property Management Leasing Manager
T: +971 (0)2 610 0232 T: +971 (0)2 6100359
M: +971 (0)50 122 0041 M: +971 (0)50 5833354
jubran@mpmproperties.ae H.AssaadSadaka@adib.com
Q2-2021 | REAL ESTATE MARKET OVERVIEW | ABU DHABIINTEGRATED SERVICES COVERING THE FULL PROPERTY LIFECYCLE
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KHALID ALI ALMANSOORI MOHAMED AL ZOUBI
Executive Chairman COO
T: +971 (0)2 610 0119 BSc Civil Engineering
M: +971 (0)50 411 1161 T: +971 (0)2 610 0564
khalid.almansoori@mpmproperties.ae M: +971 (0)50 310 3570
mohammedalzoubi@mpmproperties.ae
ABU DHABI HEAD OFFICE DUBAI OFFICE AL AIN OFFICE SHARJAH OFFICE
ADIB Building on Ground Floor, Office 1405 - Level 14, API Trio 201-204 ADIB Ladies Branch Building Al Ikhlas Tower, Next to
Tower, Al Barsha, Oud Touba Street, Ikhlas Mosque, AL Khan -
King Abudllah bin Abdulaziz Al Saud Sharjah
Street, Al Bateen, P.O Box 114686 Dubai Al Ain
Abu Dhabi Tel. +971 (0)3 703 9521 Tel. +971 (0)6 5972555
Tel. +971 (0)4 371 9462 Fax. +971 (0)6 5753553
Tel. +971 2 610 0252 Fax. +971 (0)2 6100514 Fax. +971 (0)3 6100514
Fax. +971 2 610 0514
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