UAE's Big Deal
United Arab Emirates seeks to transform Al Marjan Island into a luxury tourism and leisure destination that helps to boost its economy. Emaar Properties PJSC and Al Marjan Island signed an agreement to develop major 2 msf mixed-use projects, which include 2,000 high-end multifamily units, 1,500 five-star hotel rooms, and top retail outlets valued at more than $1.8 billion.
Markets to Watch
Brexit may change the global city hierarchy despite London’s efforts to maintain its dominant position. Surprisingly, Dublin, Ireland, is a top contender even though its office market is 10 percent of London’s. On the plus side for Dublin, its population is bigger
than Frankfurt, Germany, and it hosts many European technology company headquarters because of its favorable tax environment. Also, the city is well-known for economic freedom, is close to London, and has prime yields of 4.25 percent.