The task of the Supreme Committee for Real Estate Planning, established by HH Sheikh Mohammed bin Rashid Al Maktoum, may God protect him, and chaired by HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, is very difficult, but vital and necessary, and therefore bear the responsibility to organize one of the most important files of the future of the economy The future of many companies and investors, small or large.
Perhaps the most difficult task facing this Committee is to re-planning the status of the current complex, especially since the real estate projects are huge and multiple, and spread for the purpose of competition, and not based on reality, supply and demand, so it is now necessary to catch breath and recalculation, and rely on the language of numbers accurately and clearly, Only they can conceptualize the solution, and they are the only measure that can draw the compass of the future in the right direction.
The real estate market is witnessing a global decline in prices, which is not limited to the UAE or Dubai, but different countries and cities of the world, but despite this decline in prices, the number of residential real estate achieved record highs, during the last year, in Dubai by 30 thousand and 767 units Expectations are to add at least 212,821 new housing units between 2019 and 2023, representing an average of 53,205 new units per year. Are these units and projects commensurate with the demand? This is what you should know, if it is, there is no objection to continue to build it, but if the current supply is higher than demand and disproportionate, the entry of these new units will have very negative effects in the sector, the economy and investors, in this case must take bold action In order to prevail over public interest over anything else.
Very nice to distinguish a variety of real estate projects and distinctive, but the most beautiful that our real estate projects thoughtful and successful and fit the demand, and most importantly be useful and profitable and do not cause any harm.
This applies to other sectors as well, it is also nice to get ahead of the world in the number of hotel rooms in the city, but the most beautiful to be compatible with the number of visitors and tourists expected, and that all our hotels in all categories and ratings successful and profitable to be supportive and strongly to the national economy, and to reach these Equations have to be based on numbers rather than impressions.
In terms of hotel rooms, for example, Dubai ranked first in the world in terms of the number of hotel rooms under construction, as of the end of April 2018, according to the latest report issued by «STR» hotel research and consulting.
The report says: `` The number of hotel rooms under construction in Dubai is the largest in the region, reaching 41,846 rooms out of 114,456 rooms under construction in the Middle East, accounting for 36% of the total number of rooms. '' The hotel is under construction in the region.
According to the British Foundation, the new hotel rooms under construction in Dubai constitute 41.2% of the total hotel supply.
This is undoubtedly a joyful achievement and encouraging news to be proud of, provided that these figures are fully compatible with the current and future demand, to meet the needs of visitors and tourists, and that this construction movement is thoughtful and planned according to the figures and forecasts accurately calculated, but not Flashk in Its impact on the hotel sector will also not be good!
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