Revitalize sales of apartments and villas..the largest shares were concentrated in areas close to the exhibition grounds

Realtors: "Expo 2020 Dubai" changes the real estate demand map

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Realtors said that the approach of the "Expo 2020 Dubai" exhibition changed the map of real estate demand, and had a positive impact on the recovery of sales of real estate units, including villas and apartments, as well as commercial and office units.

They confirmed to "Emirates Today" that real estate sales in Dubai witnessed great activity and a remarkable recovery from the repercussions of the "Covid-19" pandemic, and most areas of Dubai witnessed a growth in real estate demand recently, but the largest shares of sales were concentrated in the areas near the exhibition, and also acquired Villas are on high demand compared to apartments, while the pace of sales growth is expected to increase at greater rates during the coming period.

real estate sales

In detail, the General Manager of “Awad Gargash Real Estate Company”, Dr. Raad Ramadan, said that, according to the initial indicators in the markets, a number of Dubai regions have recently witnessed varying rates of demand for real estate sales, supported by the approaching launch of the “Expo 2020 Dubai” activities. ».

He revealed that villas and townhouses, or apartments consisting of two floors and a separate entrance, accounted for large percentages of demand in a large number of areas, followed by apartments, especially in the room and lounge category.

Ramadan emphasized that the areas geographically close to the exhibition site topped the large demand indicators, most notably the Jebel Ali, Spring and Dubai South areas.

demand map

In turn, the Managing Director of Harbor Real Estate Company, Muhannad Al-Wadiya, said that the approaching launch of "Expo 2020 Dubai" has changed the map of demand for real estate sales, which has witnessed recently strong growth rates significantly, with the support of the exhibition, in addition to the transformation of most of the demand operations. To areas geographically close to the scope of the exhibition site.

He added that according to the indicators observed in the markets, villas, townhouses, and projects that offered units of this quality witnessed great sales, followed by apartments of different sizes.

He continued, "According to what is noticeable in the markets, the approach of (Expo 2020 Dubai) also had a positive impact on sales of commercial and office real estate, which indicates a state of general growth in demand for real estate sales in Dubai, with the support of the international exhibition."

He explained that «most of the demand for real estate sales was concentrated in the areas surrounding the exhibition area with varying distances, especially in the projects of modern units».

activity and recovery

For his part, Chairman of the Board of Directors of “W Capital Real Estate Brokerage Company”, Walid Al Zarooni, said that real estate sales in Dubai recently witnessed great activity and a remarkable recovery from the repercussions of the “Covid-19” pandemic, supported by the positive effects of the approaching launch of “Expo 2020 Dubai”, In addition to a number of other economic factors that made many investors from different countries of the world prefer to acquire real estate in Dubai.

Al Zarouni added: "It was natural for the areas near (Expo 2020 Dubai) to account for the largest percentage of sales during the recent period, whether in (Dubai South), (Jebel Ali), or other residential complexes close to geographically different percentages of the exhibition." .

He stressed that according to the current market indicators, sales are expected to witness a greater increase in the coming period, and that demand rates will continue to rise during the period of the exhibition, which will last for six months, starting from next October. real estate sector.

Al-Dah: Multiple factors for moving the real estate market

The Vice President of the Society of Structural Engineers in London, Muhammad Khader Al-Dah, said that the movement of the real estate market is due to various factors, pointing to the increase in vaccination rates, the reduction in the number of infections with the “Covid-19” virus, and the recovery of the local economy from the repercussions of the pandemic, as well as a limited supply of Real estate is on the map, and no new projects are launched.

Al-Dah pointed out that the end of the summer season and the entry of an active period in the fiscal year, in addition to the real estate reaching a low price level, contributed to motivating investors to buy, pointing to the increase in demand from tenants to own property, and from owners of small units to acquire larger units and villas, in Attractive prices remained to buy.

Al-Dah continued, "There is a recovery in all areas, not only in the areas adjacent to the exhibition," pointing out that the area there is still uninhabited compared to older areas in Dubai.

Al-Hafiti: We expect strong activity from buyers

Real estate consultant, Mohammed Al Hefaiti, said that the approach of "Expo 2020 Dubai" has a positive role, and gave a good impression to investors wishing to invest in the Emirate of Dubai, stressing that the global event will attract new real estate investors.

Al-Hafeiti added that the movement and the reality of the market is positive and promising, and there is optimism among everyone from the Expo 2020 Dubai, expecting strong activity from buyers of real estate in Dubai during the coming period, and said that the real estate market was positively and significantly affected.

Al Ali: "Expo 2020 Dubai" moves the real estate market

The real estate broker, Mohammed Al Ali, said that "Expo 2020 Dubai" has been driving the real estate market for some time, pointing to expectations that rents will move strongly during the period of organizing the exhibition, as well as the expected demand after the "Expo" for groups that would prefer buying a property, and stability in the UAE.

Al Ali stressed that legislative security is a motivating factor in the market, as it is difficult to find fraud in the market amid follow-up and oversight from the concerned authorities on the situation in the real estate market.

He explained that the buyer must ensure the condition of the property, the finishes, the price, as well as the payments he makes to the developer.

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