Dubai REAL ESTATE Market
Overview Q1 2019
The overall real GDP of UAE is expected to grow by 2.4% in 2019 (up from previous expectation of 2%) driven mainly by the growth in the non-oil sector, which is projected to reach 1.4% in 2019 compared to 1.3% in 2018. The oil sector is expected to grow by 5% in 2019 compared to 2.8% in 2018. The improved outlook for growth is due to expected rise in public and private spending, higher investment and continued regional economic recovery, in light of the monetary policy easing in the US.
As the global economic and regional political conditions remain unstable, it is causing great market uncertainty which will affect the current market situation further. However, the UAE & Dubai government have launched various initiatives to increase demand, these announcements and regulation changes will be a positive boost to the overall economy