Al-Zarouni: 6 factors that enhance the sector's recovery until the end of this year

230 billion dirhams expected sales of Dubai real estate by the end of 2022

  • Dubai provides the best services and technologies to continually improve the living experience.

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  • Walid Al Zarooni: "Real estate investment in Dubai offers the best return in the region and among the best in the world."

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The real estate expert, Chairman of the Board of Directors of “W Capital” real estate brokerage, Walid Al Zarooni, expected that the real estate market in Dubai will record unprecedented record sales exceeding 230 billion dirhams by the end of 2022, to be the highest ever after exceeding the level of 200 billion dirhams for the first time, compared to 150 billion dirhams achieved last year.

Al Zarouni said, "The continuation of the exceptional performance expected during the second half of this year comes after the market recorded the best half-sale sales in its history, with a value of 114.2 billion dirhams in the first six months of it."

He added that «real estate sales in Dubai continue to record record numbers, month after month, and for example, but not limited to, the sales movement during the first half of this month of July recorded more than 11 billion dirhams, which is the same sales for the entire same month last year, equivalent to Two and a half times the sales of July of 2020, in an indication of the continuation of record sales in the sector during the remainder of this year.”

real estate activity

The Chairman of the Board of Directors of the "W Capital" real estate brokerage company stressed that "real estate activity will be driven by six main supportive factors, which will qualify the market to reach new record levels, in terms of all types of real estate transactions."

Al-Zarouni stated that "the recovery of the UAE economy is the main driver of the expansion of the real estate sector and its achievement of leaps in all aspects, whether the volume of sales or attracting foreign investors, benefiting developers and improving the performance of real estate brokers," noting that this growth is achieved despite the expectations of global economic recession for the major advanced economies. Most emerging markets, but the resilience of the UAE in general and Dubai in particular, comes thanks to the growth of the oil and non-oil economy, which is reflected positively on real estate sales.

Added Value

Al Zarouni stated, "The real estate sector is also recovering thanks to political stability and high levels of security and safety, which represents a real added value to the real estate sector in Dubai and the country as a whole compared to other real estate markets around the world, which lack security stability or economic growth," adding that these factors are located It is at the forefront of the investors' priorities and has the confidence of capital owners of all nationalities.

He pointed out that "Dubai is still reaping the fruits of organizing the (Expo 2020 Dubai), which lasted for six months and ended in late March, as it put Dubai at the forefront of the global scene in terms of tourism and investment flows, and brought with it enormous benefits for the real estate sector, such as participation In increasing the demand for residency, and attracting investors and real estate owners from individuals and owners of commercial companies.”

Expo's earnings

He explained that the government's awareness was guided to preserve the gains of organizing the World Exhibition through the launch of the "Dubai Expo City", in the same place that hosted the exhibition's activities and to be a city for the future.

Al Zarouni noted, “Achieving a good return and preserving value is the most important goal for investors, and there is no doubt that real estate investment in Dubai offers the best return in the region and among the best in the world at a rate ranging between 6-9%, in addition to the fact that real estate in the Emirates, Dubai and Abu Dhabi in particular is a safe haven. To preserve the value of the money.

And he indicated that "all asset classes suffer from the risks of economic recession around the world, while safe havens for value, including real estate, may be active, even if they are affected somewhat by waves of interest rate hikes."

Accommodation facilities

He revealed that "Dubai has begun to reap the benefits of the residency facilities and residency grants approved by the UAE over the past two years, which created a strong demand for buying and acquiring a property in Dubai," noting that there is a huge influx of talents and investors from all over the world to settle and work in Dubai.

Al-Zarouni believes that "developed infrastructure is one of the most important requirements that an investor takes into account before coming to any country," adding: "Dubai undoubtedly provides the best services and brings the best technologies to constantly improve the living experience, which of course enhances real estate demand."

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