It is very clear that not all real estate projects were built and implemented by different companies, based on in-depth studies on market size, supply and demand, and we cannot deny that this particular matter was a direct cause of the excess supply of real estate units at the present time, which In turn, it negatively affected the sector in general.
Likewise, we cannot deny that some decisions to implement real estate projects, and at inappropriate times, were not taken based on what is required by the public interest, or to achieve direct economic benefit that injects rewarding financial returns into the national economy, but were mostly decisions that were purely personal interests. And to achieve rewarding benefits and returns, but it did not find its way in the national economy, and this is what seemed clear in insisting on implementing projects, despite the knowledge of those people that it is greater than the market need!
It is necessary to know this, not from the whipping of the self, but in order to lay the right foundation for a new start, the situation is still good, and the opportunity is conducive to the restoration of the real estate sector its natural condition and its importance, provided that we put the horse in front of the vehicle, and not the opposite, and the horse here is the development of other economic sectors And to support innovative projects that in turn become a locomotive with which to withdraw the rest of the sectors, including the real estate sector, so that demand increases to accommodate the supply, not to increase the supply and eliminate demand!
Dubai possesses huge qualifications, it always nominates it to quickly regain its strength, and perhaps the most important advantage the city has is the confidence of the foreign investor and the citizen investor, in the strength and durability of its economy, in addition to the great confidence associated with the efficiency of the Emirate’s infrastructure, and the infrastructure here includes the legislative, administrative and logistical structure that is the best in The region without a doubt.
We do not lack laws, but what we lack is the effectiveness of laws, and we do not lack services, as they are here the best in form and content, but we lack complementarity between government departments, in addition to that, we desperately need to restore the regulatory and oversight role of departments, especially after some government agencies have entered as an investor who enjoys With special exceptions, this created a kind of imbalance with the private sector!
Nevertheless, Dubai knows only optimism, and we have no doubt that the next is better, and that the near future will witness a correction of the track, and will put an end to the unhelpful competition for the national economy between these semi-governmental entities, and this limit will create more space for foreign investors and citizens from the private sector, which makes Things are on the right and natural track.
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