|
|
 |
|
Viewing report
|
|
|
|
United Arab Emirates Real Estate Report Q3 2011
Business Monitor International, June 2011, Pages: 66
The United Arab Emirates Real Estate Report provides industry professionals and strategists, corporate analysts, real estate associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on United Arab Emirates's Real Estate industry.
Key Opportunities/Drivers
- The UAE benefits from its strategic importance in the GCC region, and of the strategic importance of the region to the world.
- The political uncertainty in much of the Middle East has left the Emirates untouched, and, consequently, it is seen as an attractive safe haven in the region. In particular, the ongoing political turmoil in Bahrain should serve to benefit the UAE, especially Dubai, given that it has been a key competitor of Bahrain in the financial services and tourism industries.
- The government has undertaken vast improvements in transport infrastructure over the last few years. Further, it has announced over US$45bn of future transport infrastructure projects. These projects, especially the US$11bn Union Railway project, will connect all the emirates and lead to further integration, and increase the UAE’s attraction and competitive advantage.
- Demand for real estate will increase as the economy improves, population figures rise and tourism increases.
Key Risks To Outlook
- Real estate prices across the board throughout the Emirates are falling and have further to fall before bottoming out.
- There is still a vast oversupply of space across the board, and throughout the Emirates.
- There is a lack of liquidity, meaning a lack of availability for project finance, especially in Dubai. Weak credit also means that a pronounced recovery in non-hydrocarbon sector growth appears unlikely at this stage.
- There are ongoing concerns about Dubai’s lingering debt repayment schedule. Any further debt restructurings by major government related entities (GREs) would do little to inspire confidence that the UAE's financial troubles are now firmly in the past.
- Political unrest and terrorist attacks elsewhere in the Middle East have caused a reduction in the number of tourists visiting the region. Tourism has continued to thrive in the UAE, but this could change if political turmoil or terrorism threatens the UAE directly.
- Several UAE real estate companies are still in significant financial trouble, continuing into 2011. Apart from losses being reported, some companies have required substantial cash bailouts and/or restructuring.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
|
|
|
|
