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HSBC Joins Morgan Stanley With Bullish Call on Dubai Real Estate

  • Post-pandemic moves to larger homes are seen boosting sector
  • HSBC raises recommendation on Emaar Properties to buy

HSBC Holdings Plc said a growing demand for larger homes during the pandemic would further boost Dubai’s property market, echoing analysts at Morgan Stanley who expect the rally to last for “several years.”

“The reported sales rebound in Dubai year-to-date has been remarkable,” HSBC’s Stephen Bramley-Jackson and Alok Baid wrote. Despite supply concerns and negative population growth, “the globally synched post-pandemic migration to larger homes is also reigniting Dubai’s residential property market,” they said.