Executive Summary
The UAE economy is anticipated to witness steady growth in 2023 supported by stable oil prices, expanding non-oil sector, government regulations promoting flow of FDI and an expected inflow of expats into the country that will promote non-oil growth. Property prices continued to rise in Q1 2023 despite fears of global economic slowdown. The value of real estate transactions in Dubai recorded an 80% increase in Q1 2023. Surge in demand for office and retail spaces, developing private sector and business activity and rising trend in real estate prices on the back of limited supply are positives for the real estate segment growth in H2 2023. Moreover, the increase in the number of Ultra high net-worth individuals coupled with flexible business and investment policies favor the real estate sector growth.
