Property in Dubai gives economy timely lift - The National

Property in Dubai gives economy timely lift - The National:

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Property and construction contributed 21 per cent of Dubai's growth in the first quarter.
Pawan Singh / The National

Dubai's rebounding property market is helping to boost the economy once again after several years as a dead weight on growth, a government report suggests.

The emirate's rebounding property market - combined with a strong performance in trade, manufacturing, transport and finance - lifted the emirate's GDP to more than 4 per cent in the first half of the year, estimate officials.

Together, property and construction contributed 21 per cent of Dubai's growth in the first quarter, second only to wholesale and retail trade, which accounted for 28 per cent of the expansion, a report released yesterday by the Dubai Economic Council showed."

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