Real estate and construction sectors rebound

21/06/2011 - Dubai Property News Posted by Neil King
Real estate and construction sectors rebound

Potential investors into the UAE's property sector could be among those encouraged by findings of a recent report.Official figures from the National Bureau of Statistics have shown that both the real estate and construction sectors are enjoying growth.Emirates 24-7 reports that the real estate sector rebounded in 2010, showing growth on the back of large falls in 2009, which were attributed to the global financial crisis.Meanwhile, the UAE's construction sector also saw a sharp rise in activity. While 2009 saw activity in the industry decline by 18.6 per cent, 2010 saw a marked improvement, with growth reaching 2.5 per cent.The report follows the news that around 10,000 new residential properties will be put on to the market in Dubai this year.According to the Dubai Land Department, the number of available domestic and corporate properties will be boosted by a large number of new developments nearing completion.