The property market in the United Arab Emirates is struggling under the pressure of ongoing conflict, leaving investors and developers both concerned.
The UAE property market has been characterised for years as a boom, a huge explosion of high-end, luxury developments and record-breaking skyscrapers.
But now, with the United States bringing conflict to the region, it is facing its first major difficulties, and cracks in the sustainability and stability of the market are beginning to show.
Last week, Aldar Properties, Abu Dhabi's largest developer, and Emaar Properties, which developed the Burj Khalifa, both fell 5% respectively.
The UAE is also heavily dependent on foreign investors and buyers, with the UAE's 11 million-strong population comprised by 90% of expatriates, and bond markets as a funding channel, which have now been essentially closed for new issuance.
Additionally, many immigrant residents of the UAE have already begun to leave and head for their home countries in the wake of drone strikes and attacks, setting the tone for how overseas interest in the UAE could be rapidly dropping in the immediate future.
