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E-A-R to the Ground

UAE: Pricing Power returns?

MAY 2021

UAE April PMI moves from strength to strength

52.7

The key highlight from the April report was that output prices rose for the first time in over two years. This could be a sign of a return in pricing power - a good omen for the labor markets. We will be watching this space closely.

Key risks: Rise in Covid cases in the UAE

Dubai property: Up, up and away

AED11b

An influx of global wealthy escaping lockdowns in their home countries aided by visa reforms in the UAE has spurred Dubai property prices. We expect demand side factors to remain strong - ahead of the EXPO. Low mortgage rates will likely support this northward trend.

Key risks: Housing oversupply, rise in Covid cases

Dubai RevPAR climbs in March

AED 329.8

Hotel occupancy and consequently RevPAR rose as domestic Covid cases came off their peak in January-February. Luxury properties advanced on local & foreign demand while business hotels remained a drag on overall revenues.

EAR to the Ground: March 2021

Economic Activity in the UAE remained tepid in February as suggested by the Purchasing Managers' Index (PMI). Headline PMI weakened to 50.6 from 51.2 in January largely due to a decline in pricing power as firms tried to raise sales volume by offering ...

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Domestic activity gathers pace: April 2021

Domestic demand in the UAE was likely propped by a decline in daily new COVID cases & a successful vaccination drive. Export orders remained subdued & rising input costs led to cautious hiring activity....

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