RIYADH: The UAE’s real gross domestic product is expected to grow at 6 percent to 7 percent in 2022, supporting rated UAE real estate companies’ credit quality, predicted Moody"s Investors Service. The credit quality of UAE’s real estate companies continues to be supported by a strong economic recovery, driven by higher oil prices and a rebounding services sector, though threats are on the rise, the rating agency said. "We forecast UAE real GDP growth of 6 percent-7 percent in 2022 and the credit quality of UAE real estate companies we rate to remain broadly stable in the next 12-18 months," said VP-Senior Analyst at Moody"s, Lahlou Meksaoui. He added: "However, more dangerous waves of COVID-19, higher inflation, rising interest rates, and fears of a recession in the US and Europe pose risks to the economic recovery." Despite these risks, efforts to manage the pandemic and introduce new residency visas have already led to a rebound in the labor market, a key driver of housing demand. The Dubai population has grown over the last few years, which is a credit positive as it will balance residential supply and demand, it said. Foreign investment is drawn to economic growth, and economic confidence is boosted as a result. In February 2022, Apollo Global Management, one of the largest alternative investment managers in the world, signed a $1.4 billion investment with Aldar Properties to support Aldar’s growth.