Abu Dhabi house prices jump 53%

a new report from colliers international has found that house prices in abu dhabi have jumped by 53% over the past year to $580 per square foot, compared to an 18% price hike in the previous 12 months. the company predicts that the continued shortage of accommodation in the uae capital could push this rate higher in the next few months. only 27,000 units are expected to be delivered by 2010, compared to a demand of more than 100,000.