UAE Growth Drivers

  • UAE population is expected to increase by 3 million by 2020 from its current total of 9.57 million.

  • Real Estate transaction volumes increased year by year in Dubai. Land sales reached US$ 33 billion in 2013 compared with US$ 13.5 billion in 2010.

  • Global forecasts predict real estate price growth of 10%-15% in Dubai.

  • New legislation to regulate the real estate market should promote transparency and maintain sustainable growth.

  • EXPO 2020 is expected to bring 20 million tourists to Dubai and create 277,000 jobs.

  • Hotel occupancy rates were the highest in Dubai where it reached 78% and ADR was at US$ 248. Hotel guest arrivals in Dubai grew at CAGR of 8% and 15% in Abu Dhabi between 2009 and 2013.

  • 590 hotels in UAE with over 93,000 rooms at the end of 2013. By 2016, more than 28,000 rooms are expected to be added, with Dubai and Abu Dhabi accounting for 50% and 31% respectively.