The property report - UAE 2022
The UAE’s property market, a key growth driver for the economy, displayed unwavering strength in 2021, breaking out of multiple years of price declines which was exacerbated by the Covid-19 pandemic.
Bolstered by a far-reaching vaccination programme which has seen over 90% of its population fully vaccinated, the UAE was able to resume economic and social activities relatively quickly compared to its global counterparts. The launch of other business and expat-friendly policies has helped the Emirates enhance its business environment, attract overseas capital and talent, and appeal to companies operating across a range of sectors to set up or expand operations here.
Key findings:
•Ready properties continued to dominate demand with a share of 57% of overall transactions in 2021 as people chose to take immediate possession of properties and move into larger homes.
•Strong rebound in activity levels has prompted developers to launch new projects, especially in the high-end to luxury segment with supply expected to ramp up for villas and townhouses.
•As the flight-to-quality approach persists, the majority of the leasing activity in the office space was expectedly concentrated across Grade A and prime office developments with landlords turning firm on their rental expectations.
•Warehousing and industrial activity is starting to mature in this part of the world with sectors including logistics, manufacturing and e-commerce driving demand.
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