UAE: Economy likely to overcome weak real estate sector

GULF COUNTRIES - Report 01 Nov 2019 by Rory Fyfe and Justin Alexander

Weakness in the UAE’s real estate sector is unlikely to spread to the wider economy as government measures and the 2020 World Expo should provide relief and banks are well insulated.

A new committee has been formed in Dubai, new property ownership rules have been introduced in Abu Dhabi and the central bank is regulating to restrict bank exposure to real estate.

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