Approx. 123,000 real estate transactions were registered in the emirate in 2022. Will the number of real estate transactions will keep on growing? : Ken Research REQUEST FOR SAMPLE REPORT Buy Now Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit The Impact of Tourism in the UAE Real Estate Market OTHER CHALLENGES IN UAE REAL ESTATE MARKET Tourism has played a significant role in the GDP of UAE ever since. In 2017, the contribution of travel and tourism to the overall GDP of the country was recorded at AED 68.5 Bn which comes out to be 5.2% of the total GDP of UAE. The market is forecasted to rise by 4.9% per annum to AED 264.5 Bn which would be 12.4% of GDP in 2027.The travel and tourism sector directly generated 317,500 jobs in the UAE which is 5.4% of total employment. This is further expected to rise by 2.4% per annum to 410,000 jobs which would be 5.9% of total employment in 2027. Fall in rent are creating opportunities for large space owners to lease to Co-working offices. DOWNLOAD SAMPLE REPORT Due to continuous fall in the rents across the Emirate, there are numerous opportunities for large space owning landlords who are struggling to lease out their property. These spaces are now considered ideal for the co-working industry as they look to take advantage of spaces in the range of 7,000 sq ft to 50,000 sq ft within close proximity to transport, hotels and main amenities. Based on global growth in co-working space, it is anticipated that UAE will experience an addition of co-working space between 320,000 square feet to 530,000 square feet in the upcoming years. The success of co-working spaces stems from accommodating varied businesses; from start-ups and freelancers to blue-chip companies in the Emirate by offering flexible operating environment. The majority of co-working space providers intends to enter into a partnership or managerial agreement with the landlords as entering in to a joint venture limits their risk in economic downturns as they are not accountable for a huge capital, which is rent. Government Initiatives and Regulations in the UAE Real Estate Market. Initiatives such as the UAE central bank mortgage cap, approval of the Dubai Urban Planning Framework and consolidation of real estate players in Abu Dhabi helped towards tightening control on market conditions. While initiatives such as regulation on housing allowances for Abu Dhabi government employees, announcement of government back projects and AED 330 Billion stimulus package in Abu Dhabi stimulated real estate demand and market performance. The government imposed a new rental decree in 2014 which allowed the rents to be increased by 5% only if they are 11% below the market rate for that area rather than 26% as determined by the RERA’s rental index. The law was applicable to private and public sector owned properties in Dubai, as well as those within the free zones. During 2013, Dubai was named the world’s strongest housing market given the city’s status as a safe haven with improved consumer and investor confidence. ASK FOR CUSTOMISATION Key Segments Covered UAE Real Estate Market By Geography: Dubai Abu Dhabi Ajman Sharjah Fujairah Umm-Al-Quwain Ras-Al-Khaimah UAE Office Real Estate Market By Type: Premium Office Type A Office Type B Office UAE Retail Real Estate Market By Type: Super-Regional Mall Regional Mall Community Center Neighborhood Center Convenience Center UAE Residential Real Estate Market By Type: Apartments Villas UAE Hotel Real Estate Market By Type: 1-3 Star Hotels 4 Star Hotels 5 Star Hotels Hotel Apartments (Deluxe/Superior/ Standard) Key Target Audience Real Estate Developers Independent Investors Real Estate Consulting Companies Third-Party Real Estate Companies Independent Architects Industry Associations Government Agencies Time Period Captured in the Report: Historical Period – 2013 – 2018 Forecast Period – 2019F – 2025F Contact Ken Research: Ankur Gupta Head Marketing and Communications support@kenresearch.com +91-9015378249