UAE government initiatives set to drive demand in property market – ZAWYA

UAE government initiatives set to drive demand in property market – ZAWYA

While most sectors across the real estate market remained challenged in the UAE during 2019, pro-growth government initiatives, rising investment ahead of Expo 2020 Dubai and expansionary fiscal stances by the federal and local governments will further improve the broad economic backdrop this year, the report said.. While, overall, the hotel sector witnessed subdued performance in 2019, the demand is expected to recover considerably with various government initiatives set to take effect this year, and the expected strong visitor growth associated with Expo 2020 Dubai.. "Large-scale projects, new visa rules and Expo 2020 Dubai will boost tourist arrivals in the coming months," said Dana Salbak, Head of Research MENA at JLL. ". Around 25 million visitors are expected in Dubai from 192 countries during Expo 2020 Dubai alone.. The office market remained in favor of tenants for all of 2019 and the trend is expected to continue in the year ahead as well..