Growth in the United Arab nor average 4.8% over the last four years, driven by a pickup in real estate services and the cost of infrastructure. Public investment is increasing and strengthening the tourism, real estate, financial services and logistics to support growth. Successful bid by Dubai to host World Expo 2020, adding further upside medium-term trend. But offsetting this increase was lower than the energy sector struggles with weakening commodity prices and emerging market growth. Because oil is responsible for 40% of government revenue, a prolonged slump in the oil sector will crimp spending 60% run-up in real estate prices over the last two years, risks to financial stability.
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