Foreigners account for 50% of investments in Dubai real estate during 2021
The unique structure in Dubai is among the reasons that attract foreign investors.
From the source
A report by "Zoom Property Insights" expects that the real estate sector in Dubai will continue its golden path after the "Expo 2020 Dubai", as foreign investors return to the market, with the aim of taking advantage of investment opportunities in the Emirate of Dubai.
The report confirmed that the market attracted a total of 52,415 investors last year, and witnessed the conclusion of 72,207 new deals, with a total value of 148 billion dirhams, which were invested in various projects within the Emirate of Dubai.
The number of investors and investments increased by 65.6% and 73.7%, respectively.
Foreign investors constituted more than 50% of the total investors during 2021, as their number reached 38,318 investors, and their total investments amounted to 51,544 deals, with a value of 99 billion dirhams.
According to "Zoom Property Insights", this upward growth will continue throughout the current year, even after the curtain falls on "Expo 2020 Dubai" on the 31st of this month.
The Emirate of Dubai is preparing for the International Real Estate Exhibition (IPS) 2022, which is another event that will contribute significantly to attracting foreign investments.
The event will start from the 24th of this month, and will receive investors from several countries, such as Spain, Serbia, Montenegro, Austria, the United States of America, Ecuador, Canada and Mexico.
“Strong infrastructure, facilities and new visa procedures are cited as key reasons supporting the return of investors to the Dubai real estate market,” said Atta Shbeiri, CEO of Zoom Property.
He added, "Dubai's excellent infrastructure, long-term visa for foreign investors, and availability of world-class facilities are among some of the main reasons that attract foreign investors, and (Expo 2020) played an important role while following the latest trends."
He continued, "I believe that the market will witness increased activity thanks to the return of foreign investors, after the curtain comes down on (Expo). It is also expected that, regardless of the return of foreign investors, the transition of (Expo 2020) to (District 2020) will push the market Real estate in Dubai will move forward during 2022, as it is planned to be a mixed-use community that will utilize 80% of (Expo) resources.”
"There is no doubt that sustainability, economic prosperity, market diversification, and high returns are among the other main reasons that encourage investors to return to the real estate market in Dubai," Shabri said.
By concluding the Expo in a few days, District 2020 will continue its legacy as a sustainable, human-centered future city, and District 2020 will feature extensive business and retail spaces.
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