Dubai property should revive 2011 and UAE to grow ...: "Dubai’s real estate market is gradually stabilising and should begin to gain traction next year and thereafter on the back of improving domestic economic and financial conditions, according to a Credit Suisse study.
Dubai's troubles with its slumping property market and cash-strapped state-owned firms mean a longer road back to health, which is holding back overall GDP growth in 2010. Key sectors such as construction and real estate have in fact continued to undergo protracted adjustments. Demand for purchasing new homes remains weak as credit conditions are tight and rental prices are still falling, the bank said in its report ‘United Arab Emirates: 2011, the year of recovery’ as part of its latest Emerging Markets Quarterly, Q1, 2011.
That said, the real estate market is gradually stabilising and should begin to gain traction in 2011-2012 thanks to improving domestic economic and financial conditions. Meanwhile, exports have rebounded, providing a much-needed lift to growth this year, the report added.
Headway on debt restructuring and higher oil prices have been a boon for confidence. Dubai World struck a debt-restructuring deal with its creditors in September. The accord has helped to ease concerns over Dubai's debt crisis, boosting investor confidence, it noted.
great post
ReplyDelete