Thursday, Jul 19, 2012
0812 GMT [Zawya Dow Jones]--Dubai's growing population will greatly benefit the emirate's battered real estate sector over the next decade, says Bank of America Merril Lynch in a report Thursday. "Dubai's active population should grow by 6.1% on average over the next eight years, faster than residential supply, which is set to grow by 4.9% over the next two years--this is critical in terms of delivery units," the firm says in a note. It adds that Dubai's diversified economy and superior infrastructure investment will also have positive impacts on its residential sector. Forecasts 950,000 new jobs to be created by 2020.
(tahani.karrar@dowjones.com; Twitter: @ZDJnews)
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
19-07-12 0813GMT
