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Middle East and UAE Real Estate Report 2020

Cityscape’s UAE & MENA Real Estate Market Report predicts the region’s post-Covid real estate recovery after surveying 488 respondents. From post-Covid real estate trends to forecasts around market growth, download the report to get the full picture across residential, commercial, industrial, retail and hospitality.

At a glance: Post-Covid real estate trends

•    Respondents are optimistic about the residential real estate market, and the majority believe that monthly rental contracts will become more common post-Covid-19.
•    Covid-19 has posed an enormous challenge to office space, but responses show signs of splitting opinions around the growth and decline of the commercial office market.
•    41.81% of all respondents believe the industrial sector will be an important asset class for generating foreign direct investment (FDI), especially in the UAE.
•    With global lockdowns reshaping consumer behaviour, the retail market has taken a large hit during the pandemic, but 91% of respondents believe that the traditional retail market will still remain vital – even with the continuous growth of online retail.
•    44% of respondents believe that the hospitality sector will have the most impact on generating FDI, and 47% of people believe that the hospitality market will recover in the next 1-2 years.

The impact of Covid-19 on residential real estate 

•    The majority of respondents believe that monthly rental contracts will become more common post-Covid.
•    Buyers of residential real estate will look to spend less money.

The impact of Covid-19 on commercial real estate

•    High-tech infrastructure, mixed-use complexes and a flexible approach to work environments and rent are among the factors that will ensure commercial real estate growth.
•    Likewise, space for social distancing, internet speed and reduced unit size will be crucial to recovery.

The impact of Covid-19 on industrial real estate

•    Warehousing and data centers are predicted to be key real estate assets for the MENA region.
•    Dubai and Abu Dhabi are anticipated to see the highest levels of industrial real estate growth over the next 12 months.

The impact of Covid-19 on retail

•    PropTech is expected to be a factor of retail recovery.
•    Only 9% of respondents believe that brick and mortar retail real estate will no longer be vital post-Covid.

The impact of Covid-19 on hospitality 

•    91.6% of respondents agree that Covid-19 has forever changed the hospitality sector and companies need to rethink strategies in order to be competitive.
•    Serviced apartments are the biggest predicted growth sector in hospitality.

Middle East and UAE Real Estate Report 2020