Market Size of UAE Commercial Real Estate Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
UAE Commercial Real Estate Market Analysis
- The UAE commercial real estate market is expected to record a CAGR of approximately 6% during the forecast period (2022-2027). The UAE economy has experienced uncertainty within its main drivers in the non-oil industry. The COVID-19 pandemic significantly impacted the travel, hospitality, retail, and real estate sectors.
- Major real estate groups already announced relief packages in 2020 across their business segments, including rent reliefs, deferred payment plans, and waivers of administrative charges, to support their customers and business partners. Major public and private developers are currently focused on ensuring a faster execution of ongoing projects to deliver the best quality product to investors.
- After an uncertain year due to the pandemic, 2021 has seen a big shift in Dubai's commercial property market, with increased prices for sales and leasing. After years of limited supply and decreasing prices, the market started recovering with a surge in demand for sales. The rental prices have been at a nine-year low up to 2021. However, in five years, the prices started rising and stabilizing for the first time in five years. As a result, there has been intensive buying of office spaces by investors and end-users, resulting in a 132% increase in office sales in the first eight months of 2021.
