UAE’s real estate industry expected to grow 3.8% in 2021

UAE’s real estate industry expected to grow 3.8% in 2021

UAE - Mubasher: The UAE construction sector is forecast to witness a 3.8% growth in 2021, as shown by the latest Middle East construction industry findings by Linesight, an international construction consultancy.

The findings focus on the COVID-19 impact on the real estate sector in the UAE, Saudi Arabia, Bahrain, and Kuwait.

After being negatively affected by the coronavirus (COVID-19) pandemic in 2020, the UAE's real estate industry is expected to see modest growth in 2021.

GlobalData referred that the UAE's construction sector grew by 3.3% in 2019, and this figure was expected to rise to 4.3% in pre-COVID in 2020.

Due to COVID-19 and a drop in oil prices, the output would contract to 1.9% in 2020, driven by