The market witnessed sales of 6.8 billion dirhams during the real estate exhibition period

Realtors: “Cityscape” exceeded expectations, and its establishment at the “Expo” introduced investment opportunities closely.

Realtors confirmed to "Emirates Today" that the "Cityscape Global 2021" exhibition, which concluded in Dubai, has recently achieved success that exceeded expectations, pointing out that holding the exhibition on the land of "Expo 2020 Dubai" provided an opportunity for visitors, tourists and participants, to get acquainted with the projects. Close proximity, the investment opportunities offered by the sector, and the financing and payment methods that have been proposed.

Real estate sales during the exhibition period recorded 6.8 billion dirhams, as the market witnessed the sale of 2,269 properties.

investment opportunities

The Chairman of the Board of Directors of the "Arabian Gulf Investment Company", Khalifa Saif Al Muhairbi, said that organizing the activities of the "Cityscape Global 2021" exhibition at the "Dubai Exhibition Center" on the land of the "Expo 2020 Dubai" site has gained great importance, through the definition of development and investment companies. The real estate project with its residential project in this important international event, and provided the opportunity for visitors, tourists and participants in the exhibition, to get acquainted with the projects closely, and the investment opportunities it offers, and the methods of financing and payment that were put forward.

He stressed that the real estate development companies succeeded in achieving outstanding performance during the first 10 months of this year, and recorded growth in profits, as well as remarkable sales in their real estate projects, and succeeded in marketing and selling them within a short period of time, which indicates the strength and attractiveness of the real estate sector.

exceed expectations

For his part, the Commercial Director of the Select Group, George Al-Hashem, said: "The success of (Cityscape) has exceeded our expectations, especially given the diversity of buyers among the residents of the UAE and foreign investors."

He continued, "At the general level, the group was able to sell more than 80% of the units of the Peninsula 1 project within one month from the date of its launch last October, which confirms the continuation of the upward curve of the real estate sector."

positive sign

In the same context, Mohammed Al-Awadi from Dubai South Real Estate Company said that the level of sales achieved a five-fold growth during the elapsed period of 2021 compared to the same period in 2020, in an indication of the exit from the repercussions of the "Corona" crisis.

He added: "There are currently more than 25,000 people living in the residential area of ​​(Dubai South) living in 50 buildings and 300 (townhouses) with 6000 housing units."

market position

In addition, real estate consultant Mohammed Al-Hafiti said that the presence of Cityscape activities on the grounds of the global event "Expo 2020 Dubai", strengthened the position of the real estate market, and the continuity of positive results for this year, as the presence of the event there helped define the delegations of the countries participating in the exhibition, On the urban renaissance in Dubai through «Cityscape Global».

He stressed that these exhibitions help shape the sector's features in the coming years, from the use of modern technologies such as "Blockchain", and digital transformation in various services.

He added, "The beauty of the presence of such exhibitions as well, is the return to life of activities, and the positive atmosphere prevailing among investors and residents in the emirate, which reflects confidence in the leadership and the future of Dubai, which is a pioneer in overcoming difficulties."

He believed that "Cityscape" contributed to discussing the current market changes, the post-"Covid-19" stage, and how Dubai succeeded in benefiting from the pandemic, by providing stability and attracting real estate investors from all over the world, including wealthy people.

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