Emirates NBD Financial Performance Overview
UAE economy rebounding with 5.7% growth expected in 2022
8.0
% y/y
4.0
0.0
-4.0
UAE GDP Growth
5.7
5.7
3.8
3.4
2.4
1.2
-4.8
-8.0
2017
2018
2019
2020
2021f
2022f
2023f
Dubai property prices growth - March 2022
Key Highlights
•
The UAE economy enjoyed a strong finish to 2021, with Expo 2020 and
increased tourism boosting domestic demand
ENBD Research expects UAE GDP to grow by 5.7% and the non-oil
economy to grow by 4.0% in 2022
• Dubai's sale price for villas up 45% and apartments up 25% y/y in Q1-
2022
The UAE was a global leader in vaccination and one of the first
economies to fully reopen
6
%
4
2
0
-2
UAE's consumer price inflation
при
سا
и
50
% y/y
Villas
40
-Apartments
30
20
10
0
-10
-20
-4
Mar-15
Mar-16
Mar-17
Mar-18
Mar-19
Mar-20
Mar-21
Mar-22
Source: UAE Central Bank, Bloomberg, UAE Ministry of Health, Asteco
Mar-15 Dec-15 Sep-16 Jun-17 Mar-18 Dec-18 Sep-19 Jun-20 Mar-21 Dec-21
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