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JLL also reported Abu Dhabi’s hospitality market registered a two percent increase in occupancy levels JLL also reported Abu Dhabi’s hospitality market registered a two percent increase in occupancy levels

JLL Anticipates Abu Dhabi Real Estate Growth

Although market conditions in Abu Dhabi remain relatively unchanged this quarter, the second quarter witnessed a major announcement by Sheikh Mohammed Bin Zayed, crown prince, Abu Dhabi, introducing an economic stimulus package for Abu Dhabi to drive economic growth, outlines JLL's latest report.

The three year AED50 billion (USD13.61 billion) package should boost sentiment among key stakeholders and have a direct impact on the capital's real estate sector.

The stimulus package introduced in early June of this year is anticipated to drive initiatives that directly affect the real estate sector by reducing costs for developers, promoting partnerships between public and private sectors, and also providing dual licenses for companies located in free zones to bid for, and undertake government tenders outside the free zone.