New data released by Informa Markets, organizer of Cityscape’s Real Estate Summit, has revealed that nearly 73% expect Dubai to see the most growth in the hospitality sector over the next two years, as the UAE opens its doors to tourism, with Abu Dhabi, Turkey, Saudi Arabia, and Egypt in tow, Invest-Gate reports.

Accordingly, 27.59% assume that Egypt will witness growth in hospitality real estate over the next 12 months, coming in fifth place after UAE’s Dubai and Abu Dhabi, Turkey, and Saudi Arabia.

This came in the first edition of Informa Markets’ bi-annual study, called “UAE and MENA Real Estate Market Report,” which also confirmed that the expansion of industrial and manufacturing industries is critical to both real estate sector recovery and non-oil revenue diversification.

Warehousing (60%), data centers (56%), and manufacturing plants (55%) were viewed as key growth areas across MENA, while residential and healthcare real estate were deemed the fastest recovering sectors.

In addition, 74% of respondents anticipate recovery for the MENA region’s real estate industry within one to two years, with an encouraging 32% expecting green shoots of recovery in the next six to 12 months.

The importance of Foreign Direct Investment (FDI) was also flagged, with 86% viewing it as the UAE’s primary growth factor. Elsewhere in the survey, GCC and Levant countries (55.92%), and China (51.64%), were identified as key markets for investment and end-users.

The comprehensive survey, undertaken by over 500 professionals in a curated database ranging from developers, architects, private and institutional investors, brokers, government staff, consultants, market analysts, and more, covered a range of sector-critical topics important in commercial, industrial, retail, hospitality, and residential real estate.

Chris Speller, group director of Informa Markets’ Cityscape portfolio, noted, “The inaugural of ‘UAE and MENA Real Estate Report’ for the second half of 2020 is an essential data study in what is clearly a challenging time for the market.”

Despite the challenging situation created by the global pandemic, almost 42% of real estate professionals peg the MENA region for growth. Similarly, 46% forecast growth across GCC countries.

The UAE and MENA Real Estate Market Report results will be discussed at Cityscape’s Real Estate Summit, a one-off edition of Cityscape in November at Dubai World Trade Center (DWTC). To read the full report now, click here: https://bit.ly/34NbTRx