COVID-19 threat looms large on real estate sector

At a time when construction projects are experiencing delay due to the COVID-19 pandemic, construction in South Bay has been permitted and declared as essential business. This announcement was made by California Association of Realtors recently. With large infrastructure projects in the pipeline, this step was considered important. All necessary guidelines to prevent COVID-19 such as social distancing has been provided to the construction sites. On the other hand, a leading developer in Dubai had to stop construction at a prime location owing to the COVID-19 threat. Uncontrollable circumstances like rise in oil prices and financial crisis have added to the woes of the real estate industry.

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