Finance World

Consumer spending in the UAE, which amounted to nearly $183 billion in 2016, is forecast to rise at a compound annual growth rate (CAGR) of 7.5% over the next five years to exceed $261 billion in 2021, analysis released by the Dubai Chamber of Commerce and Industry showed.

A set of disappointing regional earnings for the 2Q coupled with negativity on the global scene had its effect with a subdued performance in the markets last week. Four out of the eight regional indices ended the week up while the other four were down with the selling picking up speed towards the end of the week.

Dubai Land Department (DLD) has announced that a total of 88 real estate projects have been launched from the beginning of 2016 until H1 2017. DLD has also confirmed that 68 real estate projects were registered during H1 2017, representing a value of AED 21 billion.

Heightened geopolitical risks this week triggered by sharp rhetoric between US president Donald Trump and North Korea boosted demand for gold, the Japanese yen and secure bonds, while high-yielding bonds and stocks were sold off. Precious metals and surprisingly also industrial metals gained, energy commodities were flat, while agricultural commodities slumped.

The market size of the UAE facilities management industry will hit an all-time high of $12.49bn in 2017, according to FM EXPO 2017’s research partner TechSci Research.