Have you ever thought about how flooding in the UAE affects the economy? It’s pretty clear that certain sectors, like insurance, take a hit because of the damage to goods and properties. Below we highlight some news articles on how they responded/ managed in relation to the unprecedented heavy rains and subsequent floods that transpired in the UAE on 16th April 2024.
- Following the floods, approximately 10,000 vehicles were damaged, leading to a 40% increase in inquiries for cars, especially SUVs and large 4x4s.
https://gulfbusiness.com/40-percent-hike-car-purchase-enquiries-after-rains-al-futtaim-auto/
- Insurance claims shot up by a staggering 400% across home, vehicles, etc.
- Schools in the UAE opted to online learning, as well as hybrid as a result of the heavy rains and subsequent floods.
- Extra classes’: As some UAE students return to school after 2 weeks, teachers tackle post-flood challenges
- 24th April, UAE government announced and allocated GBP 435.6 million to repair the homes of Emirati families.
- Recent news report indicates that many construction projects in the UAE could face setbacks due to the heavy rains on April 16.
https://gulfbusiness.com/uae-floods-to-impact-construction-projects
- Dubai’s Emaar announces free repairs for rain-damaged homes
https://www.khaleejtimes.com/uae/dubais-emaar-announces-free-repairs-for-rain-damaged-homes