UAE-Israel treaty will boost trade, drive real estate market

UAE-Israel treaty will boost trade, drive real estate market

The peace treaty between the UAE and Israel is a game-changing initiative and will open up new horizons that would benefit key economic sectors and bring prosperity to the region, industry experts say.On Saturday, the UAE scrapped an economic boycott against Israel, allowing trade and financial agreements between the countries in another key step towards normalising ties. The two countries are expected to hold talk this week to promote bilateral cooperation in sectors such aviation, tourism, trade, finance, health, energy and security.Latest data from real estate consultancy ValuStrat indicated that there were significant demand-supply imbalances during 2012-14, where Dubai had an average of 90,000 additional residential units. However, the emirate is expected to have less than 70,000 additional residential units during 2018-21 that will help stabilise the market and attract