– GDP growth is anticipated to reach 7% for the year, and continue to expand by 6.9% across 2017 and 2018, according to the World Bank.
– By the end of Q3 2016, the value of projects granted construction permits was reported as being 76% higher than the corresponding period last year. A total of 2,009 projects have so far been granted permission, with a collective value of US$7.56 billion.
– The number of condominium project launches is showing signs of slowing, with 3 projects having launched over Q3, totaling 1,022 units.
– Prime office rents appreciated over Q3. Grade B rents were up 3.8%, whilst supply also increased by 13,400 sqm, equating to an increase in total supply of 4.7%.
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