UAE: improvement in residential real estate market

The UAE attracted overseas capital and talent, improved the business environment, and encouraged companies operating in various sectors to open or expand activity here. The Emirates has recovered the economic and social life of citizens efficiently compared to other countries in the world. 

Due to government steps to counter the effects of the pandemic, including vaccination programs, the residential real estate market in Sharjah recovered last year. Zawya, the business and finance news platform, reports that In December 2021, the employment rate in Sharjah was almost unchanged from 2020 at 84%.

Abu Dhabi attracted real estate investors and increased the demand for residential buildings. In the city, about 5,400 residential units were constructed. New supplies have also remained stable compared to 2020, but they are lower than the 5,500 units made in 2019.

Last year, Dubai recovered the demand in the residential real estate market as well. The total volume of real estate deals registered in the city during the year rose by 74% compared to the same period last year and amounted to more than 56,000 units. The total value of the deals has reached $35 billion, the highest since the global financial crisis.