According to Knight Frank’s recent report on the UAE Market Review and Forecast for 2019, the UAE’s GDP is expected to grow by 2.8% in 2018, up from 0.8% registered in 2017.
“Outlook for the UAE’s GDP growth in 2018 and 2019 remains positive on the back of higher oil prices, a range of stimulus packages and easing of business regulations in both Abu Dhabi and Dubai, which are likely to support activity in both the public and private sectors,” reads the Knight Frank report.
Looking at the real estate sector. The report notes that residential prices and rents are likely to continue to soften in 2019, however additional demand may underpin the market as a result of the recent approval of a range of legislations to ease visa regulations, given that many of the changes are linked to property ownership
Taimur Khan, Research Manager at Knight Frank reveals what’s in store for the office sector and the hospitality sector.