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FINANCIAL NEWS
Dubai’s JBR posts over 20% increase in Q1 rents
07 May 2012
(MENAFN) Harbor Real Estate stated that during the first quarter, residential rents in Jumeirah Beach Residence (JBR) jumped by over 20 percent from the previous quarter, reported Emirates 24/7.
The Dubai-based firm said that the master community is among the prime freehold localities in the emirate, facing 1.7 kilometers of beach that features luxury hotels, retail outlets and restaurants, in addition to 36 residential towers.
Moreover, in the quarter, the leasing of a two-bedroom apartment rose to between USD27,218 and USD32,661 a year, from USD21,774 to USD29,940 in September 2011.
It is worth noting that annual rents of 3-bedroom apartments in JBR range between USD35,383 and USD40,827, whereas annual rents of 1-bedroom apartments range between USD20,413 and USD24,496.
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