UAE real estate market ‘remarkably resilient’ despite pandemic recession
The United Arab Emirates’ real estate market has proved “remarkably resilient” throughout the pandemic despite an estimated 7.7 percent contraction in the country’s 2020 GDP, according to a partner at real estate consultant Knight Frank.
The country’s GDP shrank by nearly double the global rate of 3.5 percent in 2020, but shrewd fiscal policies have brought about more positive forecasts – with 1.1 percent growth expected in 2021 and 4 percent in 2022, according to a Knight Frank report released Sunday.
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https://english.alarabiya.net/business/markets/2021/02/10/UAE-real-estate-market-remarkably-resilient-despite-pandemic-recession-