Saturday, September 25, 2010

MEED MENA Real Estate Report


حقل الأحلام الكويت
If you build it, he may not come after all.
 
AlQabas has a summary of a recent Middle East Economic Digest ("MEED") report.

Pretty much the report can be summarized in the table below.

CITYMedian Office Rent

Per Square Meter
Average Commercial

Vacancy
Median Residential

Monthly Rent
Abu Dhabi$513%$3,500
Amman$1610%$   800
Cairo$39  0%$   800
Doha$5020%$3,000
Dubai$3838%$1,900
Jeddah$2510%$1,000
Kuwait$4240%$2,000
Manama$2410%$2,000
Muscat$23  5%$1,110
Riyadh$3320%$1,500
 
As mentioned in the article, it's important to remember that these are median rates for a city. There may be more than one market in a city. So, for example, Shaykh Zayed Road may be booming in Dubai with strong occupancy and rental rates, while other areas are really depressed.

On that latter score, I'd invite my Arabic reading audience to comment if I've translated the terms معدل and متوسط correctly. I'm reading these to be Arabic for the statistical terms "mean" and "median" respectively.

And finally anyone who'd care to comment about the rental rates.

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