The outbreak of Covid-19 is adding to the strain on Dubai’s already weak real estate market.

The emirate has been struggling with oversupply in most segments but notably in residential and hotel sectors for about three years. Property markets in the Gulf Cooperation Council, as in most of the world, are now hit by travel and other mobility restrictions imposed by governments to contain the spread of the new coronavirus, alongside low consumer and business sentiment. S&P Global Ratings acknowledges a high degree of uncertainty about the rate of spread and peak of the coronavirus outbreak.

Read more on: https://realtynxt.com/2020/04/27/outlook-on-the-uae-real-estate-market-covid19//