Apr. EN 2019

13 In addition, foreign investments in the construction sector grew 5%, ratcheting the contribution of the real estate sector to non-oil GDP to 8.2%, with the real estate sector in the Emirate of Abu Dhabi steadily proving to be one of the largest sectors attracting investments due to its high business returns, with demand continuing for new projects and units to meet the needs of new target segments at the local and external levels Al Mazaya underlines the importance of the developments reflected by the exhibition during its last session, which clearly showed the current tendency of the real estate developers to develop and sell land directly instead of developing and building before starting the selling process as was the case in thepast. This tendency is justifiedby the existing real demand for those plots of land with good infrastructure facilities, with property companies currently offering land at attractive prices and high financial returns and many incentives in addition to the readiness of some real estate companies to build land for investors and buyers at low costs. There is no doubt that the increasing trend towards offering land for sale is attributed to the importance of this step in raising corporate profits and ensuring quick cash flows. It also reflects the level of adaptation that real estate developers have reached with the market conditions for the time being and for the next period. Al Mazaya believes that Emirate of Abu Dhabi has the multifaceted potential of success reflected by the stimulus packages provided over the past period that are likely to heighten business competition and stimulate financial and economic activities. Such a momentum recorded in the emirate manifested itself in the GDP reaching $253 billion at the end of 2018, a growth rate of 14.4% Y-o-Y, with the non-oil GDP growing by 3.5% during the same period. Mazaya Monthly Real Estate Report - Week 4 - April 2019 The report added that Cityscape Abu Dhabi carried a positive outlook for the market with the participation of more than 80 local, regional and international real estate developers who all offered a new package of discounts, flexible payment plans and lease-to-own agreements for many real estate projects locally and internationally. This was coupled with mouthwatering incentives on deals conducted during the exhibition. The mobility created by the event had a direct impact on stimulating demand and contributed to boosting the value and number of transactions conducted as well.