Dubai economic boom set to drive IMF growth forecast for UAE | The National:
"The IMF may raise its economic growth forecasts for the UAE this year, helped by a rebounding Dubai economy.
“When you look at the most recent data that has come in, including data for Dubai for the first six months of the year, those figures are showing relatively high growth rates for Dubai … which is just under 5 per cent,” said Masood Ahmed, the director of the Middle East and Central Asia department, said. “Im sure this will feed through into the end of year numbers for the UAE as a whole and will end up being revised upwards.”
Dubai is recovering from a 65 per cent decline in property prices. Home values rose 22 per cent in the second quarter from a year earlier, the broker Knight Frank said in September."
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