The paper "The UAE Housing Market Analysis" is a perfect example of a micro and macroeconomic case study. The UAE is one of the most developed economies amongst the entire GCC nations. The group of Emirates forming this nation has continued to experience intensive development in regards to different sectors of the economy (Deutsche Bank, 2013). It is important to note that the nation’ s main source of revenues arises out of exports relating to petroleum and natural gases. The current economic growth experience is attributed to intensive high levels of government interventions in matters related to the creation of free economic zones; significant levels of engagement into new projects as well as the existing stronger market for oil and related products across the numerous global markets (Deutsche Bank, 2013).
In essence, due to this notable and most viable country direction; the entire economy has improved especially in such important sectors as the real estate and infrastructure with improvements reaching an all-time high of between 7% and 9% in the gross domestic product (Deutsche Bank, 2013). Presently, the UAE government is much focused on adopting diversification strategies in order to accomplish the much needed sustainable growth and development with efforts being directed towards the non-oil sector for the purpose of stabilizing the country‘ s overall economy.
In fact, the existence of enormous levels of cranes in both Abu Dhabi and Dubai is proof of significant improvements in the country’ s economy as a whole. By the start of 2007, the housing sector has already posted 25.6% in comparison to other previous operational periods (Deutsche Bank, 2013). The focus of this assignment is to provide a housing market analysis in relation to UAE’ s overall economic growth and Expo 2020. The chart below fairly compares the growths of both Singapore and UAE GDPs in the period between 1973 and 2010 (Deutsche Bank, 2013). Figure 1 The growth ascertains that the economy has indeed grown intensively in relation to other major world economies.
The real sector in the country is deemed to be the main contributing factor to the growth of the overall construction sector. In consequence, with the wake of the global financial crisis as well as the UAE’ s real estate market crash, the construction is yet again coming up slowly (Samba Financial Group, 2014).
Boleat, M. (2005). "Housing Finance in the United Arab Emirates." Housing Finance International 19(3), 3-6
Deutsche Bank (2013). Industry Analysis: UAE Real Estate. Market Research Forecast Change, 1-65. Retrieved on May 9, 2016 from https://www.db.com/mea/en/media/GDPBD00000257789.pdf
Samba Financial Group. (2014). United Arab Emirates Outlook 2014-15. Report Series. Retrived on May 9, 2016 from https://www.samba.com/en/pdf/economy-watch/UAE_Outlook_Report_2014_15.pdf
Watts, M. (2012), "Growth Moderates in UAE." MEED: Middle East Economic Digest, 24-25