Real estate contribution to Dubai’s GDP reached 7.2% in 2019: DLD

SectorReal Estate

The report aims to provide a comprehensive picture of Dubai’s real estate sector’s performance by analysing all aspects of the sector’s performance and the various economic and operational indicators that affect its performance to determine its future trends.The value of Dubai’s GDP reached AED407 billion in 2019 as compared to AED389 billion in 2018, with a growth rate of 2.2 percent. But the emergence of COVID-19 in December 2019, and its subsequent outbreak around the world, led to a decline in global economic growth rates, prompting all international institutions to reduce their global growth forecasts for 2020.To avoid the consequences of the pandemic, Dubai provided a package of measures and economic incentives to ensure business continuity and help the various economic sectors overcome the pandemic, most importantly the launch of more...