Real estate investors reported that one of the most important challenges they currently face is ensuring the continuity of the implementation of real estate projects, and obtaining returns for them as planned, to meet the payment of loans due on these projects to banks and banks, in addition to the ability of the real estate sector during the coming period, to recover through Government support to other economic sectors, which contributes to continued market demand.
In detail, the Department of Economic Development in Abu Dhabi organized, in cooperation with the Abu Dhabi Council for Economic Development, the third round table meeting with businessmen, investors and developers in the tourism and real estate development sectors.
Participated in the meeting, which was organized remotely, by the head of the Abu Dhabi Department of Economic Development, Muhammad Ali Al-Shurafa, the head of the Municipalities and Transport Department, Falah Muhammad Al-Ahbabi, and the head of the Abu Dhabi Tourism and Culture Department, Mohammed Khalifa Al Mubarak, in the presence of the Acting Director General of the Abu Dhabi Council for Economic Development, Dagher Al-Murar. The meeting started with the real estate development sector, where businessmen, investors and real estate developers, owners of national companies and private sector companies, reviewed a number of topics related to the challenges of their economic activities, in light of the pandemic of “Covid-19”, which affected a number of other economic sectors that support the activity of real estate developers. . The participants unanimously agreed that one of the most important challenges they currently face is ensuring the continuity of implementation of real estate projects, and obtaining returns for them as planned, to meet the payment of loans due to these projects to banks and banks, as well as the ability of the real estate sector during the coming period to recover, from Through government support to other economic sectors, which contributes to continued market demand, and the provision of financial liquidity to finance the purchase or lease.
Real estate developers called for more government support to direct banks and banks to provide more facilities, through dealing with the current crisis, by implementing initiatives that enhance the efficiency of companies, and liberate them relatively from the restrictions of financial obligations, by giving them temporary loans to reduce their losses.