No new pick-up in current demand for the Middle East and Africa commercial property sector 

Despite activity across the market being subdued, fewer respondents to the survey reported that investment into the Middle East and Africa’s commercial property is falling. -26% more respondents reported a decline at the all sector level, up from -28% in Q4 2020 and the lowest number of respondents reporting a fall since before the pandemic.

A subdued sentiment is echoed across the short-term measures for rental expectations and capital values. For the coming three months, -25% more respondents believe rents will fall at the all sector level. Whilst it is not driving the commercial recovery like other global regions, the Middle East and Africa’s industrial sector is the least subdued of all the market classes, with only -8% more respondents expecting rents to fall (an improvement on pre-pandemic levels). Looking at capital values, a net balance of -9% more respondents anticipate them to fall over the coming three months at the all sector level, but +3% expect them to rise in the…

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