Dubai's Realty Sector Stands Strong Despite Covid-19 Pandemic

The contribution of the real estate sector to Dubai’s GDP reached 7.2% in 2019, and the sector achieved an added value of more than Dhs29.4 billion, with a growth rate of 3.3% compared to 2018

Dubai’s real estate sector is one of the main contributors to the emirate’s economic growth. The sector stays strong despite the outbreak of the COVID-19 pandemic, thanks to the proactive measures taken by wise leadership to reduced the severity of the impact on the industry. A number of measures were taken and packages of initiatives were launched to strengthen various sectors of the economy, according to Dubai Land Department’s annual report.

DLD released its report titled ‘Real Estate Sector Performance 2020,’ on the side-lines of the International Property Show and Invest in Dubai Real Estate.

The report aims to provide a comprehensive picture of Dubai’s real estate sector’s performance by analysing all aspects of the sector’s performance and the various economic and operational indicators that affect its performance to determine its future trends.

The report consists of four main chapters. The first chapter covering the analysis of Dubai’s macroeconomic indicators, and the contribution of the real estate sector to the emirate’s economic growth. The second chapter covers an analysis of the operational performance indicators of the sector, the third chapter highlights some of the important issues that affect the performance of the sector, while the fourth chapter provides an analysis of the expected future trends in the sector’s performance.

Sultan Buti Bin Mejren, Director General of DLD, described the report as a comprehensive monitoring tool that strengthens decisions and enriches analyses, affirming DLD’s approach based on the importance of communicating with all customers and partners from different parties.