Middle East Business: Major rebound seen in UAE real estate deals in H1 – Gulf Digital News

Middle East Business: Major rebound seen in UAE real estate deals in H1 – Gulf Digital News

There has been a significant rebound in real estate transactions in the UAE during the first half of the year mainly buoyed by confluence of factors, according to Kuwait Financial Centre (Markaz).

 

Bright macroeconomic prospects, underpinned by rising oil prices, a higher vaccination rate among its population and global events like Expo 2020 Dubai, are expected to stimulate the rebound of the UAE’s real estate sector for the coming years, stated Markaz in its 'UAE Real Estate Outlook H1 2021' report that features indicators signifying positive signs of sustained recovery for the country’s real estate sector. 

 

The country’s economic recovery from the repercussions of the Covid-19 pandemic has been on an upward trajectory since the third quarter of 2020. Diminishing government deficit along with an increase in expenditure growth and improving employment rate further demonstrate the economy’s resilience, it added.

 

"The investor-friendly government policies incorporated to mitigate the impact of the virus, such as the 10-year golden visa program and 100% foreign ownership of commercial companies, as well as the new reforms in mortgage lending and the efforts taken to restrict new supply are positives for the real estate sector and the investment environment in the country,' Markaz stated in the report. 

 

Further, the