The United Arab Emirates’ real estate industry has become an important global player over the past decade. As of 2019, the collective brand value of real estate companies in the UAE amounted to 2.7 billion U.S. dollars, placing it right behind China and the United States.
The Abu Dhabi Investment Authority (ADIA), a real estate investor from the United Arab Emirates, is a leading global investor in the industry with assets worth over 43.4 billion U.S. dollars.
The global COVID-19 pandemic has affected the luxury real estate market of Dubai immensely. In 2021, luxury real estate prices were forecast to decrease by two percent in Dubai.
The Abu Dhabi Investment Authority (ADIA), a real estate investor from the United Arab Emirates, is a leading global investor in the industry with assets worth over 43.4 billion U.S. dollars.
Real estate in Dubai
The real estate industry in the emirate of Dubai accounts for 8.2 percent of its gross domestic product. It is also a leading employment sector for its foreign workforce. With its focus on becoming a high-end tourism destination, the emirate of Dubai has become attractive for real estate investors. The majority of urban buildings in the emirate are investment villas at almost 72 thousand, followed by private villas at around 40.6 thousand buildings.The global COVID-19 pandemic has affected the luxury real estate market of Dubai immensely. In 2021, luxury real estate prices were forecast to decrease by two percent in Dubai.
