MENA | Saudi-UAE agreement, Covid-19 restrictions
Amid deadlock within OPEC+, speculation is rising that Saudi Arabia and the UAE have reached a compromise over production quotas, after the UAE opposed an extension of the group’s cooperation deal beyond the current end date of April 2022.
What you will learn:
- Oman and Bahrain announced additional Covid-19 related restrictions to cover the Eid al-Adha period, with fears that large gatherings that are typical over the holidays could fuel a surge in cases. Elsewhere, Qatar is opening up to vaccinated tourists as it ramps up preparation for the 2022 World Cup.
- Turkey’s central bank kept its policy interest rate on hold at 19.0% after inflation hit 17.5% in June, its highest in over two years, fuelled by a boost to consumer spending from the relaxation of restrictions compounded by vulnerability to rising commodity prices and a weak currency. A rate cut is unlikely before Q4.
- Following the collapse of OPEC+ talks and tensions between Saudi Arabia and the UAE over production cuts, there is speculation that the two countries have reached a compromise.
Australia: Roadblocks cleared for build-to-rent in Australia
The pipeline of build-to-rent (BTR) developments across Australia continues to swell, with our project tracking currently capturing a pipeline of circa 45,000 announced units. Around 5,900 units have broken ground in FY2023, with a further 15,000 geared to commence across FY2024 and FY2025.Find Out More
How bank turmoil is impacting APAC commercial real estate credit
Recent bank funding turmoil is likely to lead to tighter lending conditions in commercial real estate markets in the Asia-Pacific region.Find Out More