UAE homebuilders to focus on preserving cash amid Middle East conflict

UAE homebuilders are likely to prioritise cash conservation following the geopolitical shock in the Middle East, Fitch Ratings says. Immediate viewings have fallen, although the contractual backlog of pre-sales and purchasers’ escrowed cash should provide stability in the near term for the Fitch-rated portfolio, which is clustered around the ‘B+’ and ‘BB-‘ ratings.