Rents and property prices in the Northern Emirates continue to slide against the backdrop of an oversupply in Dubai and uncertainty over future recovery and growth prospects, CB Richard Ellis (CBRE), a real estate service provider and property consultancy, said on Wednesday in a report.
“The performance of individual emirates continues to fluctuate widely with Sharjah and Ajman currently feeling the brunt of Dubai’s overhang of space,” Matthew Green, CBRE UAE’s Head of Research and Consultancy, said in the report.
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