News

Dubai real estate sector sees activity

Dubai’s real estate sector is seeing signs of recovery after the first six months saw the completion of approximately 30% – or 14,000 – of the 45,700 residential units scheduled for handover this year, according to ValuStrat. The real estate sector has been hard-hit globally by the Covid-19 pandemic and while significant challenges remain, the figures in ValuStrat’s first half UAE real estate market review show the resiliency in Dubai’s property market. “The sector’s contribution as per latest data, stood at 5.4% (AED80.2 billion, US$21.8 billion), 7.4% (AED15.5 billion) and 3.6% (AED28.7 billion) of GDP at constant prices for the UAE, Dubai, and Abu Dhabi, respectively,” ValuStrat said in the report. Meanwhile, office sales transactions during the second quarter of 2020 saw a significant drop (80.2%) compared to the same time last year. In addition, median office asking rents decreased by 8.6% annually, but remained stable quarterly at AED864 per square metre for office units. © 2020 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.