Real estate sales jumped 111% in 11 months
Al-Mutawa: Dubai made a legislative revolution, and the real estate sector has benefited the most from it
The total transactions of «Dubai real estate» amounted to 270 billion dirhams.
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Mohammed Al-Mutawa: "Dubai crowned the top of its urban achievements, supported by a strong legislative structure, with the global output of the (Expo 2020) exhibition."
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The Chairman of the Board of Directors of Al-Waleed Investment Company, Muhammad Al-Mutawa, said that “the Emirate of Dubai has carried out a revolution of legislation during the past few years, thanks to which it has achieved many of the planned visions of infrastructure, roads, bridges, airports, government service institutions, and vital projects from Ports and airports, and in the end reflected on the recovery of the real estate sector in the emirate.”
Al-Mutawa added, in statements to "Emirates Today", that "the real estate sector was the most beneficiary of this legislative revolution, which reached Dubai to be one of the most important global cities," noting that "Dubai crowned the top of its urban achievements, supported by a strong legislative structure, by bringing out Global exhibition (Expo 2020 Dubai), which appeared in unique architectural designs, as well as the development of an entire city serving the international exhibition.”
Al-Mutawa monitored the state of momentum experienced by the real estate sector, which is the result of a strong legislative environment, as real estate sales recorded an increase of 111% during the first 11 months of this year, to reach 135 billion dirhams, compared to 64 billion dirhams in the same period of 2020.
He stressed that the total actions of "Dubai Real Estate", from the beginning of this year until the end of last November, amounted to more than 270 billion dirhams, which is an unparalleled success, in conjunction with the challenges imposed by "Covid-19", expecting the continuation of the upward curve for the sector during the months. coming.
Al-Mutawa believes that the most prominent factors supporting the growth of the real estate sector in the current period lie in the legislative incentives provided, the influx of visitors to the Expo 2020, as well as the facilities of real estate developers, in addition to the improvement in the return on investment in Dubai real estate, and future expectations for price increases.
Al Mutawa revealed the size of the investment opportunities available to investors in all fields, which include real estate and digital and service projects, taking advantage of Dubai's new and attractive legislative environment, to create projects of global value, and there are examples of many successes that emerged from the womb of this emirate.
Al-Mutawa said: "Who would have expected this rapid rise from the (Corona) storm that afflicted the world and paralyzed the major countries?"
He stressed that the policies of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, always prove that they are present to support recovery processes in times of crisis, and the ability to anticipate the future and develop effective solutions to social and economic problems before they occur.
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