Al Hammadi: Developer facilities are necessary to continue the momentum of Dubai real estate sales

Ismail Al Hammadi: "The Dubai market is lively and attractive to investors from different countries of the world."

The founder and CEO of Al Rowad Real Estate, which specializes in real estate consultancy and marketing, Ismail Al Hammadi, called on developers to continue providing facilities and privileges to investors and buyers in order to maintain sales momentum and attract new ones after the record sales performance recorded last year.

He explained that «the Dubai market is vital and attractive to investors from different countries of the world, but the facilities are necessary, especially as competing cities seek to catch up with Dubai in attracting investors through the privileges granted to them, including price reductions and exemption from service fees, registration or payment plans that extend for years. Several after receiving the real estate unit.

Al Hammadi said, "Last year, after the launch of (Expo 2020 Dubai), we recorded a review by some developers of the facilities provided, such as the ten-year payment plan and others," noting that in the past, the justification was with "Expo Dubai" that managed to stimulate investors and boost sales, but Now, after completion, it is necessary to return developer facilities and long-term payment plans in light of the large liquidity of state banks, and also in light of the new numbers that entered the Dubai market.

Al Hammadi pointed out that “many residents in Dubai are motivated to buy, especially the new ones who have only been two years or less, and therefore the opportunity is appropriate to stimulate this category, in addition to the new category that entered the market after (Expo 2020 Dubai)”, pointing out that the increase in The sales momentum stimulates the market, and enables the reduction of the real estate surplus, thus providing the opportunity for developers to launch new projects.

During the first quarter of this year, real estate sales achieved a huge jump of 128 percent, reaching 55.4 billion dirhams, the highest in the last eight years.

Follow our latest local and sports news and the latest political and economic developments via Google news