With the support of “Expo” and recovery from “Corona”

Al Zarooni: A hot real estate season is knocking on the doors of Dubai Summer

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The real estate expert, Walid Al Zarooni, expected that the current summer season will be very hot for the strong demand and large sales in the real estate sector in the Emirate of Dubai, compared to the past years, which were witnessing some slowdown in sales.

Walid Al Zarooni, who is the Chairman of the Board of Directors of the Real Estate Brokerage Company "W Capital", said, "The expected improvement comes thanks to several factors in the Emirate of Dubai that were not present in recent years, the most important of which is the approaching launch of (Expo 2020 Dubai) in early October, which It enhances the investment demand for leasing throughout the 6-month exhibition period.”

Al-Zarouni added, "The (Expo) exhibition will achieve high levels of attraction for incoming tourism, which will greatly support the demand for hotel apartments, and increase occupancy rates to significant levels, thus enhancing the investment return and extending effects to many years to come.


He stated that real estate prices have already witnessed since the beginning of the year. The year saw a remarkable increase, especially during the second quarter of 2021, especially in villas and luxury units.

He pointed out that the gradual improvement in prices is an indication of the market's recovery and gives indications to the investor of the need to seize opportunities now and take advantage of the good returns offered by Dubai real estate, compared to prices in the Middle East and North Africa region.

He stated that the recovery in the real estate market was mainly driven by the control of the "Covid-19" pandemic, thanks to vaccinations that included all residents, which encouraged the reopening of the economy strongly and the resumption of tourism.

Al-Zarouni believes that the activity is excessive at the present time to the acquisition of a housing unit close to the beaches and recreational areas for water games, given the intense summer heat.

He pointed to the supportive and additional role provided by government initiatives, by granting golden residency, which creates additional demand that comes from abroad, in addition to the confidence of investors in the future of the UAE economy, which enhances its presence and the acquisition of a property or company in Dubai.

He revealed that the real estate supply has begun to decline, while new projects are rather few, and this will have a role in a strong increase in prices during the next 12 years.


He pointed out that the improvement in rents in most areas in Dubai enhances the investment demand to buy real estate for the purpose of leasing and obtaining a good return, and prices or rents increase as the launch of the Expo approaches.

He believes that the improvement in prices and sales during the summer season, will prompt developers to change the payment plans and reduce the facilities provided, which range from 5 to 7 years, to decrease to 3 years or less, in an attempt to increase prices and collect liquidity to compensate for the losses incurred by companies during the pandemic year.

He noted that the investment return is currently very encouraging, and it reaches some housing units to 8% levels, and is likely to rise above 9% during the summer season with the start of the exhibition.


Al Zarouni monitored a price increase of nearly 6% during the first half of 2021, and villas, which represent 13% of the residential market in Dubai, played a key role in this growth, with an increase of 6.3%.


He stressed that the chances of price growth are great until we reach a peak in 2014, with the improvement of all factors, whether strong economic growth in the oil and non-oil sectors, as well as strong demand and a decrease in supply.


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