Mansion Global
Stimulus packages and foreign investment provided a boost amid the Covid-19 pandemic By V.L. Hendrickson |
Save
Pixabay
More signs point to a rebound in the United Arab Emirates real estate market, following a major disruption to home sales during the Covid-19 pandemic and the economic shutdowns it caused, according to a report Monday from Savills on the cities of Abu Dhabi, Dubai and Sharjah.
“The introduction of stimulus packages by the Central Bank was a shot-in-the-arm to the property market once lockdown restrictions were eased,” Steven Morgan, CEO at Savills Middle East, said in the report. “We witnessed a gradual increase in demand, especially across the residential sector in [the second half of] 2020.”