Standard & Poor's credit rating agency expects major real estate developers in Dubai to benefit the most from the current recovery in the real estate market in general in the emirate.
As the agency expected in a report on the Dubai real estate market outlook, the recovery in this market will proceed at uneven rates, meaning that some real estate categories and developers will recover more quickly than others. The report does not include a credit rating.
The report said that major reputable developers with high-quality real estate assets in prime luxury locations in Dubai are the ones to benefit the most from the recovery, and they will enjoy strong demand. on its properties.
The report indicated that the increase in the number of pre-sale orders would contribute to real estate developers in Dubai achieving higher revenues in the long term, and would also enhance their creditworthiness in the short term, particularly during The period from 2021 to 2022, which is the period covered by the report.
For the companies operating shopping centers in Dubai, the report expected that they would achieve a gradual recovery, and stated that these centers began to regain popularity among their patrons, and the tenants of stores and outlets started witnessing improvement in their sales.
According to the report, Dubai is poised to benefit from the resumption of international air traffic.