After a stellar 2021, UAE’s ‘first-mover’ advantage to continue to work in favour of the property market

After a stellar 2021, UAE’s ‘first-mover’ advantage to continue to work in favour of the property market

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Dubai, UAE: Leading global real estate advisor Savills released its latest research report analysing UAE’s real estate market performance, with a review of 2021 and an outlook for 2022. The report provides a comprehensive snapshot of the residential, office and industrial sectors in Abu Dhabi, Dubai and Sharjah.

The UAE’s property market, a key growth driver for the economy, displayed unwavering strength in 2021, breaking out of multiple years of price declines which was exacerbated by the Covid-19 pandemic.

Bolstered by a far-reaching vaccination programme which has seen over 90% of its population fully vaccinated, the UAE was able to resume economic and social activities relatively quickly compared to its global counterparts. The launch of other business and expat-friendly policies has helped the Emirates enhance its business environment, attract overseas capital and talent, and appeal to companies operating across a range of sectors to set up or expand operations here.

Residential market highlights

Abu Dhabi is undergoing an interesting transformation with the launch and completion of various key hospitality and family entertainment concepts. This pushed higher the demand for residential units across the city and helped in further widening the investor base. Project completions continued to remain strong throughout the year with close to