High oil prices drive Abu Dhabi’s property sector

Significance

The top end of the United Arab Emirates (UAE) real estate market is showing the strongest rates of growth in years, fuelled by interest among buyers looking for a safe haven. The market’s recovery has also been helped by buoyant economic conditions as oil prices soar and the government implements reforms.

Impacts

• The improved prospects for developers will be reflected among the construction sector’s service suppliers.
• Rising real estate prices, after an almost six-year long fall, will boost consumer and business confidence.
• International concerns about money laundering will plague the real estate sector.