UAE’s Strong Fundamentals, New Laws to Revive Real Estate Market

SourceDubai Chronicle
SectorReal Estate

The unexpected disruption to the property market in 2020 was a reaction to the impact of the global pandemic, and not a fundamental downturn in the sector Key trends highlight The completion of ongoing infrastructure projects along with various supportive measures launched by the Government in 2020 to revive the economy will have a positive impact on the real estate market going forward Companies from the non-oil sector are likely to drive demand for office space in Dubai, while Abu Dhabi may witness steady demand from government related entities and also tech related companies. The market may also benefit from any projected improvement in oil prices A key trend that has emerged in 2020 is the demand for ready units which has outstripped off plan sales for the first time in four years in Dubai Companies are anticipated to capitalise on the subdued rental sentiments and enter into long term partnerships with developers for their regional distribution centers Concepts such as vertical farming, cloud kitchens and investments into life science R&D, are expected to create demand for built to suit developments Savills, a more...