section_path: Economic impact by continent, region and country/Asia/Middle East/United Arab Emirates
section_name: United Arab Emirates
paragraph_text: United Arab Emirates
  
  The COVID-19 pandemic reportedly pressured the property sector, which has already been dealing with the imbalance between supply and demand for years. Dubai's property firms, Emaar Properties, and DAMAC Properties reported losses following the surge in COVID-19. Emaar reported a 58% loss in net profit while DAMAC Properties reported a net loss of 1.04 billion dirhams in the year 2020.
  
  In March 2021, the restrictions on global supply-chain caused a great impact on Dubai's business activities, which were struggling to recover from the impact of the COVID-19 pandemic. The IHS Markit compiled Dubai's Purchasing Managers’ Index that rose to 51 from 50.9 in February 2021, saving from landing in the contraction zone by only one point. The global supply difficulties also led to "constraint profit margins", as the need of demand recovery forced firms to lower output charges.