Foreign investors' demand for Dubai real estate increases building sales by 15.6% in 9 months
Ismail Al Hammadi
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The strong real estate sales of apartments in Dubai were reflected in the buildings sector, which recorded a growth of 15.6%, with the number of buildings sold in the nine months of this year jumping from 5,828 buildings to 6,911 buildings.
Monitoring of Al-Rowad Real Estate Corporation, which specializes in real estate consultancy and marketing, showed a strong recovery in the buildings sector, which received great interest from investors in light of the investment return ranging between 6 to 9%, and in light of the great demand for investors and foreign companies to work from Dubai with the support of Among the various government facilities and incentives approved by Dubai to support various sectors, including the business sector, to attract more investments and enhance the competitiveness of the emirate's attractive economy.
The founder and CEO of the Foundation, Ismail Al Hammadi, said, "The real estate market in Dubai has proven its efficiency and effectiveness as one of the best income-generating sectors and a contributor to the emirate's domestic product, and also as one of the sectors that contributed to the promotion of Dubai, whether for tourism, work, residence, business and various economic activities through Attractive buildings with different designs, modern, traditional and heritage, which symbolize the nobility of the emirate.”
He added that "real estate and its infrastructure has been an ambassador for Dubai in various forums, and Dubai has long been known for its high-rise buildings and various towers and the accompanying highly developed infrastructure that reinforced the shining stereotype of the emirate."
Al Hammadi stressed that "the jump in building sales in the emirate during the first nine months of 2022 is very positive and supportive of the real estate and construction sector, and it is a catalyst for real estate developers to launch more quality projects in light of the strong demand for real estate in general and buildings in particular."
Al Hammadi expected the recovery to continue during the fourth quarter in light of the high demand for foreign and local investors in the real estate sector, taking advantage of the attractive prices and the privileges granted to foreigners by the government, such as long-term visas, golden residency, and others.
Al Hammadi pointed out that global economic conditions are a catalyst for Dubai to attract more companies and investors thanks to the safe investment environment and the security and stability factor that the emirate enjoys.
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