The rated real estate companies in the GCC region have stable credit quality after a volatile few years that saw downgrades, recovery and restoration of credit profiles, according to S&P Global Ratings.
The key drivers include steady economic and population growth, a rebound in tourism as well as supportive oil prices, stated the ratings agency in its chartbook-style report, ‘GCC Real Estate: How Credit Stories Have Evolved.’
The report chronicles the credit journey of real-estate firms in the Gulf countries…