Expert: UAE’s H1 real estate results reflect growing confidence

Expert: UAE’s H1 real estate results reflect growing confidence
The UAE’s H1 2017 real estate results reflect growing market confidence, according to the UAE Contractors Association’s board chairman.
Published: 31 August 2017 - midnight
By: James Morgan

Gains achieved by listed UAE property companies during H1 2017 reflect positive sentiments in the country’s real estate market, and corroborate investors’ growing confidence.

This is the opinion of Amer Al Omar Salim Al Mansoori, board chairman of the UAE Contractors Association, speaking in the lead-up to Cityscape Global 2017.

Al Mansoori noted that improved financials had been recorded despite global economic headwinds, and attributed market stability, according to UAE state news agency, WAM.

“The UAE property market is forging ahead towards more maturity at the current stage, with property development companies exhibiting more flexibility to launch projects that meet growing demands among citizens and residents alike over certain categories of projects,” he said.

“The projects [that] the UAE government and private property companies [continue to launch] effectively contribute to [the revival of] the construction and contracting sector, and incentivise Emirati companies working in this field to double their contributions to the urban development drive in the country,” Al Mansoori added.

READ: Value of Dubai real estate projects for H1 2017 hits $5.7bn

The UAE Contractors Association’s board chairman attributed renewed market stability to the high returns on investment (ROIs) provided by the Emirates’ real estate sector.

International property exhibition, Cityscape Global 2017, will take place from 11-13 September at Dubai World Trade Centre (DWTC).

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