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A report by CB Richard Ellis Group Inc. has said that rental rates in the UAE's northern emirates may drop further this year as cheaper rents in Dubai lure tenants and as supply continues to outstrip demand, Bloomberg has reported. Residential rents in Sharjah, Ajman and Ras al Khaimah, have dropped 20% on average from a year ago, while some areas saw as much as a 35% decline, the report has said.
The Northern Emirates are Ajman, Umm Al Quwain and Ras Al Khaima.
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