The UAE construction and real estate sector is estimated to have grown by at least 4.1 per cent last year and is currently accounting for approximately 16.5 per cent of national GDP, according to a recent report by the National Bank of Dubai (NBD). It has been categorised as one in which sharp increases in land prices have been translated into high rental prices and strong returns for property developers and speculators, Khaleej Times cited the report.
Al Bawaba
