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Mashreq Wealth Gauge

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Mashreq Wealth Gauge Exceptional. Individual. The banking sector is expected to benefit from the With the outstanding success of the Initial Public UAE continues to benefit with influx of private strong economic growth and ample liquidity in the Offering of the Emaar Malls Group, the IPO Market capital on account of political unrest in addition to cash market. However the growth in the retail has shown traction. More number of companies are influx of wealth from emerging markets like India, Mashreq segment will be nicely balanced by the launch of expected to take this route to listing. Such listings Russia and China. The Institute of International Al Etihad Credit Bureau. The Sector is expected to will add further depth and liquidity to the bourses. Finance (IIF) confirms that Foreign Direct do well with earnings more than the market Amanat holding, Al Habtoor Group, Ithmar Capital Investments (FDI) have doubled to USD 12 billion expectations. The profitability will be primarily and Damac are a few companies who have lined up which now accounts to 3% of the 2013 GDP. The driven by growth in fee income and decline in their IPOs. Listings will ease out cash liquidity issues, fiscal balance is at a surplus of 10.2% of GDP of Property provisioning. The compression in margins is however the challenge will be to make good use of 2013. All indicators have led to an improvement Wealth Gauge. expected to continue which will be over funds raised and to meet working capital in credit conditions for the economy. shadowed by strong growth in lending book size. requirements for short and long term. Volume 14 | October 2014 Economic Overview United Arab Emirates has continued to benefit overall CPI has increased by 0.43% as compared Infrastructural Investments and spendings from its safe-heaven status. The economic to the previous month. The average increase in continue to rise in the UAE. The first phase of recovery has been strong which is well supported prices recorded were at 2.42% as compared the Dubai Tram is scheduled for a launch on by tourism, hospitality and with the rebounce of to the same time last year i.e., August 2013. 11th of Nov’14. The 11 Trams will cover 11 the real estate sector, the economic activity is (Source: National Bureau of Statistics) stations. The Tram network will circle Dubai expected to remain strong. The macroeconomic Marina and JBR and will stretch along the Al indicators also look positive. The economic The Global Infrastructure Investment Index has growth is well supported by various mega ranked UAE among the top 3 countries, from a Sofouh road. The Tram will also touch bases of projects announced, all which are aimed at list of 41 most dynamic countries with a good stations on Dubai Metro and one on Monorail. improving the current infrastructure. potential for growth and infrastructural Once operational the traffic is expected to ease The growth is expected to bring in inflation in the investment. The study conducted had also looked out and offer convenience to commutters. The short term, primarily caused by the increase in at various other aspects such as the ease of doing Tram network is also expected to boost the real housing prices. For the month of August 2014, business, GDP per capita, ongoing tax rates, estate prices of properties strategically located in the overall Consumer Price Index (CPI) has government policies, quality of the current and around the stations. reached 121.20, (indexed at 2007 = 100), infrastructure and availability of debt. 01 Mashreq Property Wealth Gauge. The banking sector is expected to benefit from the With the outstanding success of the Initial Public UAE continues to benefit with influx of private strong economic growth and ample liquidity in the Offering of the Emaar Malls Group, the IPO Market capital on account of political unrest in addition to cash market. However the growth in the retail has shown traction. More number of companies are influx of wealth from emerging markets like India, segment will be nicely balanced by the launch of expected to take this route to listing. Such listings Russia and China. The Institute of International Al Etihad Credit Bureau. The Sector is expected to will add further depth and liquidity to the bourses. Finance (IIF) confirms that Foreign Direct do well with earnings more than the market Amanat holding, Al Habtoor Group, Ithmar Capital Investments (FDI) have doubled to USD 12 billion expectations. The profitability will be primarily and Damac are a few companies who have lined up which now accounts to 3% of the 2013 GDP. The driven by growth in fee income and decline in their IPOs. Listings will ease out cash liquidity issues, fiscal balance is at a surplus of 10.2% of GDP of provisioning. The compression in margins is however the challenge will be to make good use of 2013. All indicators have led to an improvement expected to continue which will be over funds raised and to meet working capital in credit conditions for the economy. shadowed by strong growth in lending book size. requirements for short and long term. Real Estate Sector Highlights • The Dubai Real Estate market is showing signs of stabilisation owing to the much needed regulations imposed by Central Bank on mortgage United Arab Emirates has continued to benefit overall CPI has increased by 0.43% as compared Infrastructural Investments and spendings lending and increase of property registration fee from 2% to 4% imposed by Dubai Land Department. CBRE reported that the transactional from its safe-heaven status. The economic to the previous month. The average increase in continue to rise in the UAE. The first phase of numbers for all the three quarters of 2014 have dipped down by 22% as compared to subsequent quarters for previous year. Majority of the recovery has been strong which is well supported prices recorded were at 2.42% as compared the Dubai Tram is scheduled for a launch on transactional activity has been in prime residential areas like Dubai Marina, Downtown Dubai, Emirate Living and the Palm Jumeirah. by tourism, hospitality and with the rebounce of to the same time last year i.e., August 2013. 11th of Nov’14. The 11 Trams will cover 11 the real estate sector, the economic activity is (Source: National Bureau of Statistics) stations. The Tram network will circle Dubai • The residential rents have also dipped by 1% marginally though during Q3 2014. The highest fall in rentals have been in the freehold sector, expected to remain strong. The macroeconomic Marina and JBR and will stretch along the Al while rental rates across leasehold area remained stable. The dip in rentals can be attributed to an increase in new residential supply indicators also look positive. The economic The Global Infrastructure Investment Index has growth is well supported by various mega ranked UAE among the top 3 countries, from a Sofouh road. The Tram will also touch bases of combined by weaker demand. The sales market maintaines momentum though at a slower rate. projects announced, all which are aimed at list of 41 most dynamic countries with a good stations on Dubai Metro and one on Monorail. • Positive market sentiments and strong economic fundamentals has encouraged developers moving ahead with stalled projects as well as improving the current infrastructure. potential for growth and infrastructural Once operational the traffic is expected to ease The growth is expected to bring in inflation in the investment. The study conducted had also looked out and offer convenience to commutters. The launch of new projects.Various new launches by master and private developers alike has resulted in a rapidly growing pipeline of short term, primarily caused by the increase in at various other aspects such as the ease of doing Tram network is also expected to boost the real residential supply. The consistent supply of real estate will keep a check on the rental rates. housing prices. For the month of August 2014, business, GDP per capita, ongoing tax rates, estate prices of properties strategically located in the overall Consumer Price Index (CPI) has government policies, quality of the current and around the stations. • The Cityscape Global Property Exhibition that concluded was a success, attracting 40K visitors which is an increase of 27% as compared to reached 121.20, (indexed at 2007 = 100), infrastructure and availability of debt. previous year. 280 exhibitors from 28 countries had participated in this event showcasing high quality real estate projects. Various new projects worth billion dirhams were launched and quite a few were successfully sold. 02 Mashreq Property Wealth Gauge. Mashreq Property Pricing Index At Mashreq we have been tracking the property prices by indexing them community wise on a scale of 100. Basis of the Mashreq Property Price Indexing, the percentage change over a period of time has been indicated both for Apartments and Villas for major communities. Change in last Change in last Mashreq Property Price Index as of end June 2014 Change YTD 3 Months 12 Months % % change Per Jun- Jul- Aug- Sep- Oct- Nov- Dec- Jan- Feb- Mar- Apr- May- Jun- Jul- Aug- Sep- % % change Location Change Change Change from Change Sq. Ft 2013 2013 2013 2013 2013 2013 2013 2014 2014 2014 2014 2014 2014 2014 2014 2014 change change from Sept- (AED) Jan-14 13 Arabian Ranches 80 81 82 83 85 86 84 84 85 85.3 85.1 84.8 84.2 82.7 82.1 81.5 -0.7% -3.3% -2.0% -3% 1333 Burj Khalifa Tower 49 50 53 56 56 56 53 53 53 52.8 53.4 53.3 53.3 53.1 52.8 52.6 -0.5% -1.5% -6.1% -1% 3750 Burj Dubai 89 90 92 96 97 100 102 103 104 104.4 104.4 104.6
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