Investor Presentaiton
Emirates NBD Profile
Operating Environment
Business licenses issued*
Dubai Economic Update (3/3)
Highlights
Residential property prices have continued to ease in
December 2015 with apartment prices down -13.5% y/y and
villa prices down -13% y/y.
The Emirates NBD Dubai Real Estate Tracker indicates that
activity in the residential real estate market slowed further in
2015 as the strong USD and low oil prices weighed on
sentiment and affordability.
Thousands
95
85
Dubai residential property prices
6
Strategy
% y/y
Financial & Operating Performance
Appendix
-6
-9
30 3 6 9 25
-12
-15
-18
Jan-15
Mar-15
May-15
Jul-15
Emirates NBD
6
125
Business licenses
115
105
12
% y/y
10
8
6
4
2
75
0
65
Jan-Sep
2011
Jan-Sep
2012
2013
Total Licences (LHS)
Jan-Sep
Jan-Sep
2014
Jan-Sep
2015
% y/y (RHS)
Source: DSC, *Licenses issued by DED only (excludes Freezones)
Dubai volumes
1600
200
Apartments (LHS)
Villas (RHS)
180
Apartments
Villas
1400
160
1200
140
1000
120
800
100
80
600
60
400
40
200
20
0
0
Feb-14
Sep-15
Nov-15
May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15
Source: 9/5 House Index - Phidar Advisory, Emirates NBD Research
Source: Phidar Advisory, Emirates NBD ResearchView entire presentation