Dubai – Mubasher: The UAE’s non-oil growth is likely to see increased momentum and pick up to 4% next year, according to a report by the Standard Chartered Bank.
The government will raise spending on social infrastructure, thus boosting consumption and investment.
Dubai's government is expected to maintain expansion in 2017, with construction and development projects related to Expo 2020 picking up speed, the bank added.
Residential real estate prices in Dubai have continued to stabilise. In addition, sales prices increasing 0.7% year-on-year in October 2016 and rental prices falling 5.1% year-on-year.
Abu Dhabi's government is continuing to raise water and electricity tariffs, the report said, adding that amended tariffs that reflect the actual cost of supply will be effective from 1 January.
