He emphasized that the "citizen broker" had added value to the real estate sector

Walid Al Zarooni: Dubai real estate sales are heading for the best annual performance ever in 2021

  • The market is witnessing a renewed demand for investment and purchase of real estate in Dubai.

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The real estate expert, Chairman of the Board of Directors of "W Capital Real Estate Brokerage", Walid Al Zarooni, said that "the brokerage sector played a prominent role in leading the recovery of real estate sales in Dubai, during the period of recovery from the repercussions of the (Corona) pandemic."

Al-Zarouni stated, in his interview with "Emirates Today", that "the UAE's policies in dealing with the (Corona) pandemic had a great impact on the strong growth of the real estate sector."

He stressed that "real estate sales in Dubai are heading for the best annual performance ever during 2021, which reflects the efforts made by the parties to the sector, both regulatory bodies represented in the Dubai Land Department, as well as real estate developers and brokers."

Citizen mediator

Al-Zarouni believes that “the real estate brokerage sector is going through its best period ever, amid the recovery in demand for real estate, and the market’s passage of a long-term rise in the price index, which exceeded 12% on an annual basis in November 2021, while villa prices increased by more than 30%.” He pointed out that the improvement of all market factors, and the unprecedented government support, both from the legislation governing the ownership and sale of real estate in Dubai, as well as decisions to grant citizenship and long- and medium-term residency, contributed to creating a renewed demand for investment and the purchase of real estate in Dubai.

Al-Zarouni stated that the "Expo 2020 Dubai" exhibition came to market Dubai as the best cities around the world for financial, commercial, and real estate investment after "Corona", and government moves, and financial and legislative stimulus packages, encouraged this.

He pointed out that "more than 70 days have passed since the launch of "Expo 2020 Dubai", it appears that this largest exhibition in the world is leaving positive double effects on the Dubai real estate market, and evidence of this is that November 2021 showed the highest monthly sales figures for eight years. Years.

And the month of November witnessed the conclusion of 6,989 sales deals worth 17.95 billion dirhams, which makes it the best among the previous months of November ever since January 2014, according to the figures of the official sales price index in Dubai (the index).

He continued, "The impact of the Expo on the economy as a whole exceeds its six-month period. Since the announcement of the victory in 2013, the government has spent billions to develop infrastructure, and put in place equipment and preparations to organize the global event, which was reflected in the increase in the attractiveness of Dubai real estate, and made the emirate within The best places to live and a dream for many people around the world.”

And he indicated that "reports that monitor the state of the Dubai real estate market have stated that (Expo 2020 Dubai) leaves enormous positive effects on the market movement, especially since the emirate has enjoyed unprecedented promotion since the launch of this event in early October, and this activity was directly reflected in the performance, as He notes the emergence of a bullish cycle that is likely to continue in the next year.”

market trends

Regarding market trends and whether there is an opportunity for prices to continue to rise, Al-Zarouni replied: “The market has a lot to continue to grow during the next five years,” stressing that “the supply is running out, the market balance is approaching, and demand is growing, which enhances the survival of prices high, so whoever is interested in investing in Real estate should invest now, and not wait, for every delay is a loss in gains and profits that could have been earned with the increase in the value of assets.”

He stressed that "the investment momentum in the real estate sector tempts many citizens to enter the real estate brokerage sector, or to learn the basics of the market in order to be able to buy and sell and take advantage of investment opportunities in the market, and this created what is known as (the citizen broker)."

Regarding the "W Capital" real estate brokerage, Al Zarooni said that "its work began about 15 years ago and benefited from the construction boom in Dubai, and its growth was linked to the expansion of the real estate sector in the emirate," adding that "the great growth of Dubai's economy affected the recovery of the construction sector, whether contractors, or real estate developers, as well as brokers, and ancillary services.”

Senior Developer

The Chairman of the Board of Directors of the "W Capital" real estate brokerage company revealed that the total real estate marketed by the company for major developers since its establishment so far has exceeded 1.2 billion dirhams.

He stressed that one of the reasons for the success is necessarily due to the boom that occurred in the real estate sector in Dubai in particular and the UAE in general. There are important leaps in the sector, the most important of which are the legislative structure of the sector and the laws and regulations that regulate the work of developers and brokers.

He said: “When I decided to start my own project in 2007, I received all the support from the Mohammed bin Rashid Establishment for Small and Medium Enterprises Development, as I provided the support that ensured success.

Membership of the foundation helped me deal with governmental and private institutions, and I got aid and support from financial institutions and the government.”

Al-Zarouni worked in several institutions and banks, before founding the "W Capital" real estate brokerage company, which obtained the membership of the Mohammed bin Rashid Enterprise Development Corporation.

Company dealers

He stated that 80% of W Capital's clients are UAE nationals, 15% are Gulf clients, and 5% are clients of other nationalities, stressing that it has a good relationship with real estate development companies that exceed 50 companies, and the portfolio of real estate developers that the company deals with include: Emaar Properties, Binghatti Developments, MAG and Deyaar.

The Chairman of the Board of Directors stressed that despite the growth achieved by the company, it still has great opportunities for expansion in the coming years, thanks to the civilized renaissance in Dubai by 2040, and the ingredients provided by the emirate's government, in order to support all economic sectors, including real estate.

Dubai Experience

Walid Al-Zarouni, the real estate expert and Chairman of the Board of Directors of “W Capital Real Estate Brokerage”, said: “I derive my work experience from the experience of Dubai, which has succeeded in becoming a leader in the field of business, and the focus of the attention of the whole world with its experience in attracting global investments.”

"real estate broker"

The real estate expert, Chairman of the Board of Directors of “W Capital Real Estate Brokerage”, Walid Al Zarouni, said that the company launched the “Real Estate Broker” program, which provided training opportunities for Emirati citizens in the real estate brokerage sector, in cooperation with the Administrative and Real Estate Academy in Dubai, in a partnership that is the first of the Its kind in the UAE and the Middle East. He stated that the program provided more than 140 training opportunities for citizens in the real estate brokerage sector through the Administrative and Real Estate Academy, and it was stipulated that the trainee be a UAE national with a high school diploma.

He continued, "All the trainees obtained real estate broker certificates issued by the Real Estate Administrative Academy, and real estate broker certificate issued by the Michigan Real Estate Institute in America."

He pointed out that Emirati youth wishing to practice this vital profession in order to develop their skills and knowledge of the real estate market in Dubai and the UAE, must enhance their culture related to real estate trading laws and the procedures followed to engage in real estate brokerage.

Walid Al Zarooni:

"Expo 2020 came to market Dubai as the best city around the world."

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