Real Estate industry in Dubai will remain stable this year despite global economic headwinds, according to S&P analysts.
S&P Global Ratings credit analyst Tatjana Lescova had said: “Burden of the economic pressures globally, rising interest rates, inflation, and the devaluation of few currencies, may result in cooling the demand for residential real estate. Furthermore, this will lead residential real estate prices to stabilise in 2023.
Real estate developers’ income growth will be coming from new and recent sales. Moreover, mostly all developers have good revenue visibility for the next few years, all praises goes to their robust revenue backlogs following strong presales last year.