UAE: Dubai Real Estate

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Chapter | Construction & Real Estate from The Report: Dubai 2018

In 2017 Dubai was on the cusp of what is widely expected to be a multi-year building boom. Driven most immediately by preparations for Expo 2020, the construction of new and improved infrastructure and major event spaces constitutes an important component of the construction pipeline for the foreseeable future. At the same time, Dubai’s steadily increasing population, the rising number of...

Dubai saw steady GDP growth of 2.8% in 2017 and this is expected to reach 3.2% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.

An increase in new developments and land sales has helped Dubai’s property market post a strong rise in transactions and turnover in the first half of 2017, suggesting last year’s slide may have bottomed out as developments accelerate ahead of Expo 2020.

While the first half of 2016 saw property values fall in Dubai’s real estate sector, strong fundamentals and consistent demand from foreign buyers suggest they may flatten out in the second half before turning upwards in the lead-up to Expo 2020.

 

The real estate sector in Dubai is famed for the scale and scope of its ambitious projects, and it continues to play a major part in the emirate’s constant state of development. As a result, the emirate has become a global by-word for the grand and the iconic, continuously pushing the boundaries of architecture and planning, design and...

 

Global and local oversupply of many key building materials has helped keep construction costs relatively stable in recent years, with Dubai’s streamlined logistics infrastructure helping to ensure the emirate does not fall foul of some of the transportation bottlenecks experienced elsewhere in the Gulf. Ahmad Thani Al Matrooshi, managing...

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