Real estate developers have reported that the real estate appraisal sector is one of the most prominent activities related to the real estate sector, and it is expected that it will be among the most fortunate sectors regarding Dubai hosting the Expo 2020 exhibition.
They pointed out to «Emirates Today» that real estate valuation is one of the activities that are in great demand when there is a strong sales movement in the real estate market, due to its importance to the seller and the buyer.
In detail, the director of "Alwaleed Real Estate Company", Mohamed Turki, said that "hosting the Expo 2020 exhibition is expected to contribute to the revitalization of many sectors and activities related to the real estate sector, and among the most prominent of these sectors is the real estate appraisal sector."
He emphasized that the real estate appraisal sector is one of the important activities that are linked to the sales movement in the real estate market, which is expected to achieve a good boom, in conjunction with the close organization of the Expo 2020 exhibition.
In turn, the CEO of "Standard Real Estate", Abdul Karim Al Mulla, said that "the activities related to the real estate sector are expected to double the volume of its business during the period before (Expo 2020), and during and after the exhibition, a reflection of the expected sales movement of the real estate sector, in conjunction with the entry of millions From visitors to the Emirates ».
He pointed out that the expectations indicate the growth of investment opportunities for the real estate sector, stressing that if there is one investor from among 10 visitors or even 100 visitors at the exhibition, we can achieve growth opportunities «flying» in the real estate sector and its activities for unprecedented levels of growth This will create a demand for the real estate appraisal sector, as it is one of the most demanding sectors that investors need when buying or selling, in addition to the fact that banks do not dispense with the initial appraisals of the property if they are given loans related to the real estate sector.
For his part, the real estate expert, the general manager of "Royal Liwan Real Estate Company", Mohamed Hareb, said that "the real estate appraisal sector is one of the important sectors for the real estate sector," noting that "the Department of Lands and Properties in Dubai during the last period launched one of the most important Projects that will raise real estate appraisals and will reflect positively on Dubai's competitiveness, which is (classification of appraisal companies and real estate appraisers with international standards), in recognition of the important services they provide to various parties in the real estate market.
For his part, the real estate expert, Walid Al-Zarouni, said that «organizing a large exhibition the size of (Expo 2020 Dubai), which is considered the most important exhibition in the world, will create a demand for the activities of the sector», stressing that there is a growing demand in the real estate evaluation sector, pointing out that The purposes of the evaluation vary according to the diversity of the real estate product and the purpose of the evaluation. He stated that evaluation contributes to the regulation and management of land values, and supports the supply and demand equation.
The real estate expert, Walid Al Zarouni, said that "one of the most important things that Dubai follows in assessing real estate, and which raises its competitiveness in this aspect, is to harness artificial intelligence technologies to reach the correct assessments without human intervention," noting that the emirate is working to adhere to international standards in Building evaluation.