Dubai feasibility studies on the up
Cluttons report finds that increased demand for feasibility reports linked to Dubai real estate recovery
The demand for feasibility studies in the UAE has been rising over the past few months, reflecting the gradual improvement in Dubai’s real estate market, real estate specialist Cluttons said.
The firm said it saw a noticeable pick up, particularly in Dubai, in feasibility activity and due diligence being undertaken by developers and investors into projects currently on hold or previously cancelled, with the numbers being under close scrutiny once more.
“Clients are requesting everything from considering the feasibility of the refurbishment of a residential apartment building in Deira to looking at the feasibility of substantially expanding or refurbishing an existing shopping mall,” said Jonathan Fothergill, director of UAE valuations at Cluttons.
Developers often conduct feasibility studies to determine the best location within a jurisdiction and to test alternative land uses for given parcels, Cluttons said.
