Q2-2021 REAL ESTATE MARKET OVERVIEW DUBAI - MPM ...
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Q2-2021 REAL ESTATE MARKET OVERVIEW DUBAI
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 transactions increased by 21%. The value of transactions
increased from AED 421 million in Q1 2021 to AED 511.7 million
y During H1 2021, close to 20,000 units were handed over, taking in Q2 2021.
the total residential stock of Dubai to 639,000 units. In terms of
y The office sale rates across key office developments remained
supply for Q2 2021, about 11,000 units were added. Dubailand
stable during the quarter and dropped marginally by 2% year-
added 18% of the new quarterly supply followed by the Creek
on-year. Due to a relatively long holding period, weak demand
Harbour with a share of 17%. New handovers from Dubai Creek
and low prices, investors are more inclined towards leasing out
Harbour include projects such as Creek 18 Residences, Harbour
the space.
Views and Creek Horizon.
y Average office rents remain stable during the quarter while on an
y As per the projects announced and under construction,
annual basis, the rates dropped by 6%. Due to weak demand and
approximately 58,000 new units are expected to be completed
high voids, landlords are more inclined towards offering extended
during the period H2 2021 to 2023. However, it is expected that a
rent-free periods or fitted-out space rather than reducing rents
fair share of this supply is expected to be extended by six months
which are already at the bottom.
and more. For H2 2021, another 20,000 units are likely to be
completed, which could exert further pressure on the occupancy y As per the projects announced/under construction, approximately
and rental levels, primarily across new properties. 4.2 million sq.ft. of office space is expected to be completed
during the period H2 2021 to 2023. However, looking at the
y Transaction activity for residential properties (apartments,
current market condition, it is likely that the completion timeline
villas, townhouses, serviced/hotel apartments, villa plots) during
for some of the projects will be extended by 6-12 months..
the quarter surged in value and volume terms. The cumulative
transaction value for residential properties in Q2 2021 was AED
21.89 billion across c.8,500 transactions compared to AED 15.05 Retail
billion (6,910 transactions), an increase of 45% in value and 22%
in volume. Of the total quarterly transactions, villas/townhouses/ y As of end H1 2021, the total retail stock of Dubai stood at
villa plots accounted for AED 14.2 billion (65% share) and the 43.7 million sq.ft. GLA. Approximately 1.5 million sq.ft GLA of
rest were apartments/serviced apartments. new retail space was added during the first half of 2021, the
figure includes partial opening with a hypermarket and a few
y The capital values for apartments across selected developments convenience stores in Circle Mall in Jumeriah Village Circle and
remained stable during the quarter and dropped marginally Avenues Mall in Dubai Silicon Oasis, together these two malls
by 2.1% year-on-year. While average sale rates for villas/ account for 1.2 million sq.ft. GLA while other notable addition
townhouses across selected developments increased by 5% being the Dubai Mall Village expansion with 79,000 sq.ft. GLA.
quarter-on-quarter and 11% year-on-year.
y The retail sector which is impacted negatively due to the
y Average apartment rents dropped marginally by 1% quarter- pandemic is witnessing an improvement with rising footfalls and
on-quarter while year-on-year the drop was 8%. The rental and sales volume. Events such as the three-day super sale reported
occupancy levels across villa/townhouse properties continue strong footfall levels and in-store sales. However, as the sector
to strengthen for three straight quarters. Average rents across is heavily reliant on international visitors and with the air travel
selected locations increased by 5.8% quarter-on-quarter and restrictions in place, the sector is expected to remain under stress
11.3% year-on-year. until it is back to normalcy.
y Approximately 10 million sq.ft. GLA of new retail space is
Office expected to be completed during the period H2 2021 – 2023.
However, looking at the prevailing market condition, it is likely
y During Q2 2021, c.270,000 sq.ft. of new office space was added,
that a fair proportion of this supply could experience opening
taking the total office stock to 103.8 million sq.ft. Over the past
delays. Few of the new malls scheduled to enter include retail
three years, the supply figures remained stable with less than 3.0
space from Dubai Hills mall, Souk Al Marfa and the Art Centre
million sq.ft. annually.
mall.
y Compared to the previous quarter, the value of strata office
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI3
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
Real estate trends ...............................................................................................................................................4
Residential sector................................................................................................................................................ 5
Office sector......................................................................................................................................................... 9
Retail sector.........................................................................................................................................................11
Definitions & methodology............................................................................................................................ 14
Contact information......................................................................................................................................... 15
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI4
REAL ESTATE TRENDS
DUBAI LAND TRANSACTION
AED. 59.41bn TYPE
SALES
VOLUME
9,604
VALUE
(‘billion AED)
27.69
TOTAL TRANSACTIONS MORTGAGE 6,811 31.72
16,415 TOTAL 16,415 59.41
TOP RESIDENTIAL INVESTMENT
LOCATIONS - Q2 2021
2,076mln 2,986mln
984units 361units 998mln
681mln
176units 385units
1,459mln 752mln 579mln
354units 261units 719mln 2,942mln 419units
EMIRATES LIVING DUBAI INVESTMENT PARK
147units 1,578units
JUMERA GOLF ESTATES
4,192mln
805units
Emirates Living
Jumeirah
Village Circle
Source: Reidin
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI5
RESIDENTIAL MARKET
y During H1 2021, close to 20,000 units were supply while Dubai South, Dubai Science Park
handed over, taking the total residential stock and Meydan/Mohammed bin Rashid City (MBRC)
of Dubai to 639,000 units. In terms of supply for added just over 4% each of the new supply.
Q2 2021, about 11,000 units were added. The
supply continues to be dominated by apartments y Within the leasehold areas, Al Nahda/Al Qusais
accounting for 83% of the total supply while villas/ area remained most active with a share of 7.2%.
townhouses comprised 17%. Notable project to be completed in the area was
Masaken Wasl project in Al Qusais 1 offering 777
y In terms of supply by location/development, units.
Dubailand added 18% of the new quarterly supply
followed by the Creek Harbour with a share of 17%. y As per the projects announced and under
New handovers from Dubai Creek Harbour include construction, approximately 58,000 new units
projects such as Creek 18 Residences, Harbour are expected to be completed during the period
Views and Creek Horizon. H2 2021 to 2023. However, it is expected that a
fair share of this supply is expected to be extended
y Other freehold developments of Jumeirah Village by six months and more. For H2 2021, another
Circle/Jumeirah Village Triangle added close 20,000 units are likely to be completed, which
to 1,600 units (14.7%) followed by Downtown could exert further pressure on the occupancy and
Dubai/Business Bay about 9% of the quarterly rental levels, primarily across new properties
RESIDENTIAL SUPPLY BY UNITS - (2014 - 2023)
700,000 Existing Supply Apartments Supply Villas
650,000
Number of units
600,000
550,000
500,000
450,000
400,000
2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
SALE RATES
y Transaction activity for residential properties transactions, villas/townhouses/villa plots
(apartments, villas, townhouses, serviced/hotel accounted for AED 14.2 billion (65% share) and
apartments, villa plots) during the quarter surged the rest were apartments/serviced apartments.
in value and volume terms. The cumulative y Mohammed bin Rashid City (MBRC)/Meydan
transaction value for residential properties in remained the top destination attracting
Q2 2021 was AED 21.89 billion across c.8,500 transactions worth AED 4.2 billion across 800
transactions compared to AED 15.05 billion properties, calculating to an average ticket
(6,910 transactions), an increase of 45% in price of AED 5.2 million. Other top performing
value and 22% in volume. Of the total quarterly developments include Palm Jumeirah and
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI6
Dubailand with a transaction value of AED 2.9 new off-plan launches include Murooj Al Furjan in
billion each. The developments of Dubai Marina/ Al Furjan development and Bliss and Caya II villas
Jumeirah Beach Residence, Emirates Living and within Arabian Ranches III.
Downtown Dubai recorded transactions worth y The capital values for apartments across selected
AED 2.1 billion, AED 1.5 billion and AED 1.0 billion developments remained stable during the quarter
respectively. and dropped marginally by 2.1% year-on-year.
y Within the luxury/high-end segment, there Rise in investor/occupier interest towards larger
were about 14 villa transactions with a value of units across established location has a large
AED 50 million and above, together these villas extent assisted in controlling further declines.
had a cumulative transaction value of AED 1.0 y The villa/townhouse segment performed better
billion. The highest value of transaction was on than the apartments. Average sale rates across
Palm Jumeriah wherein a five bedroom plus villa selected developments increased by 5% quarter-
transacted at a value of AED 119.5 million. on-quarter and 11% year-on-year. However,
y With several new off-plan launches during the there are developments which have recorded
year, the off-plan transaction recorded a double an increase higher than the average. The capital
digit increase in value and volume terms. The values in Jumeirah Park recorded a double-digit
cumulative value of transactions increased from growth of over 20% increasing from AED 750 per
AED 5.9 billion in Q1 2021 to AED 9.1 billion in sq.ft. in Q2 2020 to AED 950 per sq.ft. in Q2 2021
Q2 2021, a quarterly increase by 55%. Few of the
AVERAGE APARTMENT SALE RATES - Q2 2021
1,600 -8%
Average Sale Rates (AED/sq.ft.)
1,400
-6%
1,200
Y.o.Y change(%)
-4%
1,000
800 -2%
600
0%
400
2%
200
0 4%
Downtown Old Town DIFC Palm The Views Dubai Marina Business Bay Jumeirah The Greens
Dubai Jumeirah Beach
Residence
AVERAGE VILLA SALE RATES - Q2 2021
2,400 20%
A ve ra g e S a le R a te s (A E D /s q . ft. )
18%
2,000 16%
1,600 14%
Y.o.Y change (%)
12%
1,200 10%
8%
800 6%
400 4%
2%
0 0%
Palm The Lakes Dubai Sports Arabian Jumeirah The Springs Jumeirah Al Furjan
Jumeirah City Ranches Park Village
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI7
RENTAL RATES
y Residential leasing activity during the quarter y Within the leasehold areas, the highest annual
was largely driven by tenant migration looking to decline was recorded in Al Jadaf area with rents
upgrade to larger and more open livable spaces. dropping by 10.8% year-on-year. One bedroom
This has resulted in a rental decline across smaller units which achieved an average rent of AED
units of studio, and one bedroom as well as ageing 50,000 per unit per annum are currently achieving
properties. AED 42,000 per unit per annum, a drop by 16%
year-on-year. The area has witnessed a substantial
y Average apartment rents dropped marginally by increase in supply over the past two years and with
1% quarter-on-quarter while year-on-year the drop several projects under construction, the area is
was 8%. The demand for larger and waterfront expected to record further addition of new units
properties has to a large extent assisted in reducing during the short term which could further impact
the rental gap. Moreover, the landlords are more on occupancy and rental rates.
flexible in offering in extending rent free periods
rather than reducing the rents which is assisting in y The rental and occupancy levels across villa/
holding on the rents. townhouse properties continue to strengthen
for three straight quarters. Average rents across
y Increase in supply and a shift in occupier selected locations increased by 5.8% quarter-on-
preferences is resulting in a sharp rental decline quarter and 11.3% year-on-year. The rental growth
across smaller units of studio and one bedroom. is led by the luxury/high-end segment which has
Within the selected locations, rents for studios and remained under stress over the past five years. The
one-bedroom units dropped annually by 9.8% and properties falling under this category recorded a
10.6% respectively while the three-bedroom units double-digit growth due to demand and supply
recorded a marginal drop by 3.7% year-on-year imbalance.
while quarter-on-quarter, the rents inflated by half
a percent. y The rental growth has been recorded across all
the villa communities, however, the percentage
y Rental deflation and occupancy pressures were increase has been substantial higher across freehold
noticed across properties that have been in the areas compared to leasehold areas. The rents for a
property cycle for over a decade. Average rents five bedroom villa in Jumeirah Park increased from
in Discovery Gardens dropped by 14.7% while in an average of AED 225,000 per unit per annum in
Dubai International City by 11.7% Emergence of Q2 2020 to AED 260,000 per unit per annum in
new quality supply from the surrounding areas Q2 2021, an increase of 15.6% year-on-year.
along with relatively weak demand for smaller
units is exerting pressure on occupancy and rental
rates in these areas.
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI8
AVERAGE APARTMENT ANNUAL RENTS – Q2 2021
25K 50K - 38K 47K 53K
36K 68K 78K 53K 68K 75K
Studio
58K 85K 103K 78K 93K 100K
1 Bedroom - 118K 140K 105K 148K 155K
2 Bedroom
3 Bedroom -14.7% -4.9% 4.0% -10.5% -7.8% -7.3%
Y.o.Y % Change
Jumeirah
Beach
Residence
Barsha
Heights
Downtown
Dubai
34K 41K 36K 36K 20K
52K 55K 50K 49K 27K
77K 81K 71K 75K 40K
95K 123K 88K 100K 60K
-6.8% -9.4% -7.4% -8.5% -11.7%
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI9
AVERAGE VILLA ANNUAL RENTS – Q2 2021
- - - 93K -
- - 193K 133K 185K
2 Bedroom
198K 218K 215K - 278K
3 Bedroom 258K 315K 240K - 325K
4 Bedroom
5 Bedroom 12.1% 9.6% 12.2% 5.5% 13.6%
Y.o.Y % Change
Jumeirah
Beach
Residence
Al Furjan Downtown
Dubai
The Villa
- 108K - 103K -
123K 135K 120K 110K -
138K 205K 148K 120K 170K
195K 248K 210K 140K 190K
14.3% 10.9% 5.5% 1.2% 16.0%
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI10
OFFICE MARKET
y During Q2 2021, c.270,000 sq.ft. of new office y Other locations of Downtown Dubai recorded
space was added, taking the total office stock to transactions worth AED 25.4 million while Trade
103.8 million sq.ft. Over the past three years, the Centre (Sheikh Zayed Road) and Deira areas
supply figures remained stable with less than 3.0 recorded transactions worth AED 21.1 and 15.2
million sq.ft. annually. Relatively weak demand million respectively.
and substantial drop in strata office space has
helped in curtailing the supply. y The office sale rates across key office developments
remained stable during the quarter and dropped
y The new supply during the quarter emerged from marginally by 2% year-on-year. Due to a relatively
phase 1 of the Dubai CommerCity located in long holding period, weak demand and low prices,
Umm Ramool area. The Business Cluster of Dubai investors are more inclined towards leasing out the
CommerCity, a dedicated e-commerce free zone space.
comprises of 12 office buildings offering 2.6 million
sq.ft. built-up space. y Lowest sale rates are currently in Barsha Heights
area at AED 725 per sq.ft. The rates remained
y Compared to the previous quarter, the value of stable quarter-on-quarter and dropped by 2%
strata office transactions increased by 21%. The year-on-year.
value of transactions increased from AED 421
million in Q1 2021 to AED 511.7 million in Q2 2021. y The office leasing activity remained subdued
Overall, c.689,000 sq.ft. of office space transacted since the beginning of the pandemic and change
in Q2 2021, calculating to an average transaction in occupier preferences. Much of the leasing
value of AED 743 per sq.ft. activity remained across smaller fitted-out office
spaces and serviced offices. The average office
y The transaction activity during the quarter was rents remain stable during the quarter while on
mainly for smaller office sizes of less than 2,500 an annual basis, the rates dropped by 6%. Due
sq.ft. valuing at AED 321.4 million, accounting to to weak demand and high voids, landlords are
63% of the total quarterly transactions. Due to more inclined towards offering extended rent-free
size, these offices are preferred by new start-ups periods or fitted-out space rather than reducing
and investors due to ease in occupation/ leasing. rents which are already at the bottom.
y During the quarter, the transaction activity y As per the projects announced/under construction,
remained focused towards the two key strata approximately 4.2 million sq.ft. of office space is
office developments of Jumeirah Lakes Towers expected to be completed during the period H2
and Business Bay. Together, these developments 2021 to 2023. However, looking at the current
accounted for AED 420.1 million worth of office market condition, it is likely that the completion
transactions. A total of 271,500 sq.ft. of office timeline for some of the projects will be extended
space valued at AED 266 million was transacted in by 6-12 months.
Business Bay area, calculating to an average sale
rate of AED 980 per sq.ft. while Jumeirah Lakes y Some of the office developments that are expected
Towers saw transactions worth AED 154.4 million to be completed by 2023 include Zabeel One
across 254,000 sq.ft. of office space, with an tower in Trade Centre, Dubai Electricity & Water
average rate of AED 607 per sq.ft. Authority (DEWA) and Empower buildings in Al
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI11
DUBAI OFFICE STOCK GROWTH (2008-2023)
110
Stock Expected - *More office projects with handover dates delayed
100
90
80
(million sq.ft.)
70
60
50
40
30
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
AVERAGE OFFICE SALE RATES - Q2 2021
2,000
Average Sale Rates (AED/sq.ft.)
1,600
1,200
800
400
0
Downtown Dubai DIFC Dubai Marina Business Bay Jumeirah Lake Barsha Heights
Towers
AVERAGE OFFICE RENTS - Q2 2021
350 Low High
Average Rents AED/sq.ft. p.a
250
150
50
-50 DIFC Downtown Sheikh Zayed Business Bay Jumeirah Barsha Heights DIC & DMC
Dubai Road Lakes Towers
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI12
RETAIL
y As of end H1 2021, the total retail stock of Dubai y The retail sector which was impacted negatively
stood at 43.7 million sq.ft. GLA. Approximately due to the pandemic is witnessing an improvement
1.5 million sq.ft GLA of new retail space was added with rising footfalls and sales volume. Events such
during the first half of 2021, the figure includes as the three-day super sale reported strong footfall
partial opening with a hypermarket and a few levels and in-store sales. However, the sector is
convenience stores in Circle Mall in Jumeriah heavily reliant on international visitors and with
Village Circle and Avenues Mall in Dubai Silicon the air travel restrictions in place, the sector is
Oasis, together these two malls account for 1.2 expected to remain under stress.
million sq.ft. GLA while other notable addition
being the Dubai Mall Village expansion with y Approximately 10 million sq.ft. GLA of new retail
79,000 sq.ft. GLA. space is expected to be completed during the
period H2 2021 – 2023. However, looking at the
y Further 3.7 million sq.ft GLA retail space is either prevailing market condition, it is likely that a fair
completed or in final stages of construction and proportion of this supply could experience opening
expected to enter during H2 2021. However, due delays. Few of the new malls scheduled to enter
to the pandemic the openings are being delayed include retail space from Dubai Hills mall, Souk Al
and the expected supply could be pushed to 2022. Marfa and the Art Centre mall
DUBAI RETAIL MALL STOCK (2010-2023)
Stock Expected - *Includes all retail malls with a GLA greater than 25,000 sq.ft.
60
50
GLA sq.ft. (millions)
40
30
20
10
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2021 2022 2023
H1 H2
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI13
RETAIL SUPPLY PRE 2010 NEW SUPPLY DELIVERED - (2010 - Q2 2021)
12% 17%
24%
34%
17%
20%
17%
14%
23% 22%
DUBAI RETAIL MALLS BY SIZE END Q2 2021 DUBAI RETAIL MALLS GLA BY AREA END Q2 2021
7% Deira
5% 6%
1% Mirdif
20% 6%
26% Neighborhood 5% Downtown/Business Bay
Super 2% Bur Dubai
Regional Barsha
9%
8% Dubailand
14% Dubai Marina
Community 8% 5% Jebel Ali
Jumeirah
JVT/JVC
Sub Regional
Regional Al Quoz
22% 13% 16%
18% Al Wasl
9% Al Warsan
Other Areas
Super Regional: 2m sq ft+ Sub-Regional: 500-1m sq ft
Regional: 1m-2msq ft. Community: 200-500,000 sq ft
Neighborhood: 0-200,000 sq ft
PRIME SHOPPING MALL AVERAGE RENTS Q2 2021
1,000
900
800
700
600
AED/SQ.FT.
500
400
300
200
100
-
ANCHORS CINEMA HYPERMARKET MINI MAJORS FLAGSHIPS RESTAURANTS FOOD COURT LINE SHOPS
The rents quoted above are base rents excluding any turnover provisions and service charges
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI14
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 Dubai. 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 that directly assist our clients to save or make
sectors of the real estate market. We provide money from real estate and shape strategies to
bespoke market research to our valued clients to enhance value.
meet their specific requirements.
y Regular site inspections and discussions with
y We provide reports, information and developer.
presentations derived from primary market data
DISCLAIMER
The information contained in this report has been change without notice. Figures contained in this report are
obtained from and is based upon sources that MPM derived from a basket of locations highlighted in this report
Properties believes to be reliable, however, no warranty and therefore represent a snapshot of the Dubai market.
or representation, expressed or implied, is made to the Due care and attention has been used in the preparation
accuracy or completeness of the information contained of forecast information. However, actual results may
herein, and same is submitted subject to errors, omissions, vary from forecasts and any variation may be materially
change of price, rental or other conditions, withdrawal positive or negative. Forecasts, by their very nature, involve
without notice, and to any special listing conditions risk and uncertainty because they relate to future events
imposed by our principals. MPM Properties will not be held and circumstances which are beyond MPM Properties’
responsible for any third-party contributions. All opinions control. For a full in-depth study of the market, please
and estimates included in this report constitute MPM contact MPM Properties team.
Properties, as of the date of this report and are subject to
Q2-2021 | REAL ESTATE MARKET OVERVIEW | DUBAI15
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
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ABDULLAH SAID AL KUWEITI
Director of Business Development YOUSEF AL ZAROONI
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KHALED SOLEH
Head of Valuation & Advisory MOHAMMED FAHEEM
T: 971 (0)2 610 0085 Manager Strategic Advisory & Research
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khaled@mpmproperties.ae M: +971 (0)50 684 5220
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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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