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E-A-R to the Ground

UAE: domestic activity gathers pace in March

APRIL 2021

UAE March PMI up on construction, new business

52.6

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

Labor markets to likely improve only when firms see pricing power returning.  

Dubai property sales march northwards

AED8.4b

Relatively low real estate prices & cheaper mortgage rates has supported this asset class. Global inflows in Dubai real estate is also buoyed by supportive policies like Digital Nomad visa among others.

Dubai RevPAR declines in Feb

AED 278.5

Hotel occupancy and consequently RevPAR came off on fresh lockdown measures in Europe. Luxury properties advanced on local & foreign demand while business hotels remained a drag on overall revenues. 

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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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