UAE real estate remains tough for home buyers, but equity investors may see some respite in 2019 | ZAWYA MENA Edition:
Although few observers of the real estate markets in the United Arab Emirates are forecasting a recovery in prices in a market where the supply pipeline continues to outstrip demand, the prospects for some of its developers may be looking a little brighter, according to analysts who spoke to Zawya following a rush of preliminary results announcements at the end of last week.
"The better-than-expected results from UAE real estate majors Aldar Properties, Damac, Emaar and Union Properties offer a beacon of hope for UAE equity as well as real estate investors," Arun Leslie John, lead researcher at Dubai-based brokerage Century Financial told Zawya in an email following the market's close on Thursday.
Dubai's blue-chip developer Emaar Properties reported a 30 percent increase in full-year net profit of around 7.22 billion UAE dirhams ($1.97 billion) for 2018 as revenue increased by 37 percent to 25.69 billion dirhams, the company said in a statement issued following the Dubai Financial Market's (DFM) close on Thursday.
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