Q2-18 Financial Results Highlights
Emirates NBD Profile
Operating Environment
Dubai Economic Update (3/3)
Highlights
Softness in residential real estate prices continues with apartment
prices faring better than villas
Apartment prices were down -6.2% y-o-y in March, compared with
-6.6% y-o-y in March last year. Villa prices fell -10.1% y-o-y in
March
Higher interest rates, declining rents and increasing supply are
likely to remain headwinds in 2018. Dubai residential real estate
prices expected to recover modestly in 2019 and rise further in
2020-2021
Dubai residential property prices
Financial & Operating Performance |
% y/y
Strategy
Appendix
Residential property prices
350
300
250
200
150
100
50
0
Feb-03
Dec-03
Oct-04
Aug-05
Jun-06
Apr-07
Feb-08
Dec-08
Oct-09
Aug-10
Jun-11
Emirates NBD
6
Apr-12
Feb-13
Dec-13
Oct-14
Aug-15
Jun-16
Apr-17
Feb-18
Dubai
Abu Dhabi
Source: Bank of International Settlements
Dubai transaction volumes
ā«Apartments
Villas
1600
Apartments (LHS)
Villas (RHS)
200
63
180
1400
160
O
1200
140
36927 2
-12
-15
-18
1000
120
100
800
80
600
60
400
40
200
20
Jan-15
Source: Phidar Advisory, Emirates NBD Research
Jun-15 Nov-15 Apr-16 Sep-16 Feb-17 Jul-17 Dec-17
Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16
Source: Phidar Advisory, Emirates NBD Research
Jan-17 Jul-17 Jan-18View entire presentation