Jess Wilder
17 Mar 2023
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The real estate sector in Dubai represents one of the major economic sectors in the economic growth, and effectively contributes to the economic growth in Dubai. The contribution of the real estate activities sector to the GDP of Dubai reached 7.2% during 2019 and relatively similar performance in 2020 despite the lockdown, and the sector achieved value added of more than AED 29.4 billion. This represents growth of circa 3.3% from 2018 onwards.
The real estate activities sector contributed effectively during the past years in the economic growth of Dubai. The sector’s contribution ranged between 6.3% in 2014 and reached the highest annual value of 7.2% in 2019, which reflects the importance of the real estate sector in economic activity in the emirate of Dubai. We would forecast the economic contribution reaching over 10% in 2021 and 2022, respectively.