Growing transactions and investments drive UAE real estate – Construction Week Online

Growing transactions and investments drive UAE real estate – Construction Week Online

Although the COVID-19 pandemic has damaged major markets worldwide, the real estate industry is booming. According to a recent report by Mordor Intelligence, the residential real estate market in the UAE is poised to grow at a CAGR of 12.36% by 2026.

One of the major factors for the growth in the UAE residential property market is the growing transaction value and investment in UAE’s real estate sector, which has resulted in an increase in new development projects in the UAE’s property market.

The UAE government has also announced several initiatives such as freehold law in Abu Dhabi that allows foreigners to own land within the emirate’s investment areas on a freehold basis, the permanent residency “golden card” scheme in Dubai granted to investors and exceptional workers in a number of sectors to increase the demand for housing units in the country.