UAE: Real estate sector in slowdown
According to Al-Bayan newspaper, the real estate exchanges volume in the UAE withdrew by 40% over the past 10 days. Real estate specialists forecast this withdrawal to prevail in the next weeks.
The specialists relate the real estate trade decline to directing funds to the new stock issuances by the operating joint stock companies in the country. For an instance, Dh 400 million worth of investment was pumped into the Aabar Petroleum Investments Company and Dh 60 billion worth of investment was pumped into the Ras Al-Khaiman Real Estate Company. Instead of investing in the real estate trade, investors prefer to invest in stock issuance, the specialists said.