Dubai’s real estate sector

Dubai’s real estate sector grew by 7% in 2018 compared to last year and accounted for 25% of overall GDP growth last year, according to the latest data released by the Dubai Statistics Center (DSC) .

The data also showed that the Dubai economy grew by 1.94% compared to 2017.

«Improving the performance of all economic activities clearly reflects the extent of the flexibility of Dubai’s economy.This flexibility and these constructive economic policies have played a key role in achieving performance and growth. balanced economic conditions, while taking into account the current slow economic situation in the world economy. «commented Arif Al Muhairi, Executive Director of DSC.

Dubai’s commercial activities accounted for 18.1% of overall GDP growth in 2018, followed by real estate, transportation and storage, the latter accounting for 13% of GDP growth because to many people invest in Beachfront Properties for Sale in Dubai.

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The accommodation and food services sector (hotels and restaurants) grew by 4.5% in 2018 compared to 2017, resulting in an overall economic growth of 11.5%. Data from the DSC shows that hotel and apartment bookings have increased by 3.2% in 2018 compared to 2017. According to the DSC, «the promotions offered by the hotels have attracted visitors and motivated them to spend longer days there «.

At the same time, public spending on major infrastructure projects increased by 32% in 2018. Public spending on infrastructure also had a positive impact on the construction sector, which grew by 4.5% in 2018 and contributed 14.5% to Dubai’s total economic growth to Invest in Golf Villas in Dubai.

Dubai is currently investing heavily in new infrastructure in anticipation of Expo 2020, including the expansion of Al Maktoum International Airport and Arabian Ranches, a major extension of the Dubai Metro, and the construction of Dubai South, which is home to District 2020 exhibition.

According to BNC Network’s latest construction report, total exhibition expenditures will reach $ 42.5 billion, including $ 11 billion for new hotels and theme parks and $ 13.2 billion for construction. housing and related infrastructure.