{"id":1281,"date":"2019-02-07T08:59:20","date_gmt":"2019-02-07T08:59:20","guid":{"rendered":"http:\/\/pgawards.wpengine.com\/?p=1281"},"modified":"2021-06-04T14:05:58","modified_gmt":"2021-06-04T07:05:58","slug":"investor-confidence-to-return-to-uae-in-2019","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/investor-confidence-to-return-to-uae-in-2019\/","title":{"rendered":"Investor confidence to return to UAE in 2019"},"content":{"rendered":"<p><strong>With the worst of the oil price downturn over and a more proactive administration, the emirates are on the road to recovery<\/strong><\/p>\n<figure id=\"attachment_1282\" aria-describedby=\"caption-attachment-1282\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-1282\" src=\"http:\/\/pgawards.wpengine.com\/wp-content\/uploads\/2019\/02\/Investor-confidence-to-return-to-UAE-in-2019.jpg\" alt=\"\" width=\"1000\" height=\"666\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Investor-confidence-to-return-to-UAE-in-2019.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Investor-confidence-to-return-to-UAE-in-2019-300x200.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/02\/Investor-confidence-to-return-to-UAE-in-2019-768x511.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-1282\" class=\"wp-caption-text\">Skyline of Dubai. The emirate is home to the world&#8217;s tallest building. RastoS\/Shutterstock<\/figcaption><\/figure>\n<p>Despite price compression last year, the UAE real estate market will still deliver opportunity for domestic and international investment this year and beyond, according to Savills\u2019 inaugural UAE market report.<\/p>\n<p>The consultancy is confident the emirati\u00a0governments&#8217; investments into infrastructure, plus recent\u00a0policy changes\u00a0and a commitment to diversifying the economy, will ease the country further\u00a0into recovery and growth.<\/p>\n<p>\u201cThe UAE Government has made a number of bold, innovative changes to stimulate the growth of the economy and secure its long-term future,\u201d said Steve Morgan, CEO of Savills Middle East.<\/p>\n<p>The government has ramped up its budget for UAE Vision 2021, a strategy to make the country among the best\u00a0in the world in time for the Golden Jubilee of the Union. The 2019 federal budget has been\u00a0increased by 17.3 percent to AED60.3 billion (USD16.4 billion).<\/p>\n<p>Key policy changes, such as foreign ownership and visa regulation changes, will also contribute\u00a0towards recovery, Savills analysts noted. In September, the country announced that it would allow\u00a0100 percent\u00a0foreign ownership in certain sectors. Visa rules were also changed to allow investors, entrepreneurs, exceptional students, and specialists to obtain five- to 10-year\u00a0visas.<\/p>\n<p>\u201cThrough both public and private sector investment, we envision the UAE will continue its progress towards a diversified economy and a more mature real estate market. There is still some way to go towards recovery but we are starting to see investor optimism return.\u201d<\/p>\n<p>Aided by an increase in oil production during the second half of 2018, the emirates&#8217; collective\u00a0GDP went up 2.3 percent in 2018, compared with an uptick of just 0.8 percent in 2017.<\/p>\n<p>A\u00a0sustained activity in the non-oil sector, which grew 3 percent, also contributed toward economic recovery. The growth was attributable to ongoing investments in Dubai\u2019s highly awaited Expo 2020 and the UAE\u2019s long-term focus on infrastructure development.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>With the worst of the oil price downturn over and a more proactive administration, the emirates are on the road to recovery<\/p>\n","protected":false},"author":2,"featured_media":19793,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1281","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-report","news_country-rest-of-asia","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investor confidence to return to UAE in 2019 | Asia Property 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