News

UAE’s real estate recovery driven by oil and migration: Fitch

Real estate soldThe UAE has seen property prices recover from Covid-19 thanks to a rise in oil prices and an increase in relocations, notably from Russia. This is the main finding from a report published by ratings agency Fitch. It describes the UAE real estate market as “anaemic” during the pandemic. In 2020, Dubai’s population fell by 8% as many in the expat community which makes up around 90% of the population were forced to emigrate after losing their jobs. However a successful vaccination programme enabled UAE to open up earlier than other countries and, along with liberalised residency rules, Dubai’s population grew by 2% in 2021. Furthermore, an influx of skilled workers along with a rise in oil prices has seen an increase in Dubai residential property sales by 81 in Q1 year-on-year and a 125% rise in the value of property transactions. However, Fitch also warns that not every sector in the UAE’s property market has seen a return to pre-pandemic levels – Dubai’s office market may take several years to recover due to an oversupply. ©2022 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).

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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.

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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.

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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.