Dubai continues to grow as a logistics hub ahead of Expo 2020 – The National

Dubai continues to grow as a logistics hub ahead of Expo 2020 – The National

Dubai continues to be the Middle East's logistics hub, with the industry clocking steady growth ahead of Expo 2020, according to the latest report from Deloitte.. The report titled, Middle East Real Estate Predictions, examines the performance of the real estate market in 2019 and forecasts changes in the hospitality, residential, office, retail and industrial and logistics markets within the emirate in 2020.. "Dubai continues to grow as a logistics hub and tourist destination," said Oliver Morgan, director and head of development in Deloitte's Real Estate team in the Middle East.. Logistics and 3PL (third party logistics) firms are expected to be among the primary drivers of demand in the future, according to the report.. Within the real estate sector, the report said the residential market experienced significant pressure owing to an increase in supply.. Average sales prices for residential property in Dubai declined by approximately 7 per cent between third quarter of 2018 and third quarter of 2019.. Average rents also declined by approximately 9 per cent over the same period, as the average price per sq ft for apartments fell from Dh1,178 in 2018 to Dh1,090 as at September 2019.. "Dubai's real estate market is not without its