More headache for landlords

In the first quarter of 2018, there were quite a few handovers at International City, Jumeirah Village Circle and Dubai Studio City. More than 92 per cent of the handed over units during the period were apartments. The upcoming supply will be concentrated in Business Bay, Jumeirah Village Circle and Town Square, all of which have more than 2,000 units scheduled for handover before the year- end. And increasing handovers will “continue to impact rents in most locations across Dubai”, states Cavendish Maxwell, the consultancy.