UAE Economic Update
y-o-y % change
-40%
-60%
Jan-07
Dubai Economic Update (cont)
Highlights
Dubai property prices continued to inch up in
2013
• After dropping an average of 31% in 2009 (-36%
for villas and -27% for apartments), property prices
have grown at an average of 28% in 2013 (+34%
for villas and +8% for apartments)
⚫ In Jan 2013, the trend continued with average
prices up by 27% y-o-y (+32% for villas and +23%
for apartments)
• ENBD Share Price up 80% in 2013 since end - 2012
Dubai Property Prices y-o-y % change
Price per sq ft (In AED)
Dubai Property Prices (in AED)
1700
1500
1300
Mid range villa
1100
900
700
500
Jan-06
May-06
Sep-06
Jan-07
May-07
Sep-07
Jan-08
Source: Cluttons, Bloomberg
May-08
ENBD Share Price
Sep-08
Jan-09
May-09
Sep-09
Mid range apartment
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
60%
Mid range villa
Mid range apartment
40%
20%
0%
-20%
May-07
Sep-07
Jan-08
Source: Cluttons, Bloomberg
May-08
Sep-08
Jan-09
May-09
Sep-09
Jan-10
May-10
Sep-10
Jan-11
May-11
Sep-11
Jan-12
May-12
Sep-12
Jan-13
ENBD Price (in AED)
5.5
5.0
4.5
4.0
3.5
3.0
2.5
2.0
Jan-10
Apr-10
Source: Bloomberg
Jul-10
Oct-10
Jan-11
Apr-11
Jul-11
Oct-11
Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Apr-13
8
16.0
14.0
12.0
10.0
8.0
6.0
4.0
2.0
ENBD Volume (Mns)
Emirates NBDView entire presentation