E-A-R to the Ground
UAE: Pricing Power returns?
UAE April PMI moves from strength to strength
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
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
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.