“Initiatives such as UAE central bank mortgage cap, approval of the Dubai Urban Planning Framework and consolidation of real estate players in Abu Dhabi helped in tightening control on real estate market conditions.”
Growth in the Tourism Sector: The country’s travel and tourism sector have emerged out to be the most developed and strongest non-oil services sector in recent years. During 2017, the direct contribution of travel and tourism to the overall GDP was approximately AED 68.5 billion which comes out to be 5.2% of the total GDP of UAE. The travel and tourism sector directly supported around 317,500 jobs in the UAE which is 5.4% of total employment during 2017-2018.
Rising FDI Investment: In order to improve the business environment in the UAE, the Government has allowed 100% ownership of business being set up in the free zones in the UAE. This had helped in boosting the confidence of investors in the UAE market and resulted in an increase in the inflow of human capital and foreign investments into the country which in turn has increased the demand for real estate spaces in the UAE.
UAE Vision 2021: In line with UAE Vision 2021 and the state’s rehabilitation plan for the post-oil era, the state-enforced policies to diversify the economy away from oil and transition into a highly productive and competitive knowledge economy. Investments in the construction of projects for the global event Expo 2020 such as the expansion of Abu Dhabi Airport in Abu Dhabi Emirate, expansion of Al Maktoum International Airport in Dubai and other railway and road infrastructure has contributed to the country’s real estate infrastructure growth.
Introduction of VAT: Introduction of Value Added Tax in the UAE had minimal effect on the residential real estate market, however; it has affected the retail and hotel sectors quite significantly. The landowners of the retail and hotel sector have found it difficult to pass on the tax amount to the tenants as a 5.0% rise in the rental rates will adversely affect the subdued market and therefore decided to absorb the tax amount among them.
The report titled “UAE Real Estate Market Outlook to 2025 – By Office Real Estate Market (Premium, Type A, and Type B), By Retail Real Estate Market (Super-Regional Malls, Regional Malls, Community Centres, Neighborhood Malls, and Convenience Centres), By Residential Real Estate Market (Apartment and Villas), and By Hotel Real Estate Market (1-3 Star, 4 Star, 5 Star, and Hotels Apartments)” by Ken Research suggested that the real estate market in UAE will witness growth in each of its sub-segments. The government’s policies favoring the real estate market such as the UAE Vision 2021 and the introduction of Ejari with the dynamics of international companies migrating to the UAE due to the flexible operational system will elevate UAE’s Real Estate Market to greater heights. Dubai’s office market supply (in GLA), retail market supply (in GLA), residential market supply (in units) and hotel market supply (in total number of keys) is projected to grow by a CAGR of 3.2%, 4.8%, 8.1%, and 5.0% respectively over the forecast period 2018-2025.
Key Segments Covered:-
UAE Real Estate Market
By Geography:
Dubai
Abu Dhabi
Ajman
Sharjah
Fujairah
Umm-Al-Quwain
Ras-Al-Khaimah
UAE Office Real Estate Market
By Type:
Premium Office
Type A Office
Type B Office
UAE Retail Real Estate Market
By Type:
Super-Regional Mall
Regional Mall
Community Center
Neighborhood Center
Convenience Center
UAE Residential Real Estate Market
By Type:
Apartments
Villas
UAE Hotel Real Estate Market
By Type:
1-3 Star Hotels
4 Star Hotels
5 Star Hotels
Hotel Apartments (Deluxe/Superior/ Standard)
Key Target Audience
Real Estate Developers
Independent Investors
Real Estate Consulting Companies
Third-Party Real Estate Companies
Independent Architects
Industry Associations
Government Agencies
Time Period Captured in the Report:
Historical Period – 2013 – 2018
Forecast Period – 2019F – 2025F
Real Estate Developers Covered:
EMAAR Properties
DAMAC Properties
Nakheel Properties
Meraas
Aldar Properties
Manazel Real Estate
Aziz Developments
Case Studies Covered:
Sense-R (Virtual Reality)
Take Leap (Virtual Reality)
AirBnb (Shared Economy)
Property Finder
Bayut UAE
Abu Dhabi Mall
Yas Mall
Marriot International Group
Novotel Abu Dhabi
Surf, Abu Dhabi Creek Harbor
Emaar Business Park
Key Topics Covered in the Report:-
FDI in UAE Real Estate Market
Fujairah Real Estate Market
Future of UAE Real Estate Market
Industrial Real Estate Market in UAE
Major Co-Working companies UAE
Manazel Real Estate Market Growth in UAE
Meraas Projects and Recent Developments in UAE
Nakheel Properties Market Competitors
Northern Emirates Real Estate Market
UAE Real Estate Online Classifieds Business Model
Prop Tech Market Analysis UAE
Property Technology Providers UAE
For More Information On The Research Report, Refer To Below Link:-
UAE Real Estate Industry Research Report
Related Reports by Ken Research:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Ankur@kenresearch.com
+91-9015378249
