Out of the box

Are the swingers disappointed?

Ismail Al Hammadi

03 November 2020

In a special real estate bulletin, data of the Dubai Land Department clarified that the real estate market witnessed the entry of about 10 thousand and 728 new investors to the market during the period from the first of January to the end of September of the current year, i.e. within nine months, and everyone knows how the situation was. During this period, especially between March and June, when the closure and the Corona epidemic were at their peak, there were no airports, planes, transportation, or movement.

The world was still at that time, standing still, not moving, waiting for the developments that would emerge from the next day.

10,000 new investors means sale deals, I mean real estate purchased, I mean real estate sales transactions that were completed when the world stopped walking!

Hence, we wonder: Was the global health crisis a blessing for the real estate sector in Dubai or a curse as the swingers saw it?

Those who view crises negatively see it as a curse, because the entire global economy has been affected, and Dubai was not isolated from that and air traffic and travel disrupted, and therefore no international investors will come to Dubai and buy its properties.

Those who view crises positively saw it as a blessing, because before it was a global health crisis, it was a test to measure the strength of countries' economies, and the UAE has proven its strength through the speed of its dealings with it and has mobilized all available means and capabilities to reduce the size of the crisis and its negative effects by laying the foundations of social security And economic for citizens and residents of the state.

And with the testimony of the reports of the largest economic forums and the largest global studies and news sites, the UAE ranks among the first in the world in achieving national economic stability.

The Emirate of Dubai has also proven its strength in facing these effects, and has not hesitated to do everything in its power to enhance the investment environment and provide a strong pillar to protect various economic sectors, especially the real estate sector, which did not lose its activity during the closure period, but during that period its star shone and strengthened. Investors' appetite was opened to Dubai real estate according to many international news, and many of them were able to conclude successful purchase deals, taking advantage of the attractive prices compared to other countries where house prices have increased, such as Britain and America.

It is not only the prices and payment facilities that have raised the sector’s activity, but the digital transformation to complete and complete various real estate transactions remotely and from anywhere in the world. It has also contributed to attracting investors to the market and enhancing the value of real estate deals, as Dubai is the first city in the world to have an integrated digital portfolio for self-real estate management Distance, and the first city in the world to buy a real estate unit at a distance.

Another factor that cannot be overlooked is the availability of financial liquidity for individuals within the state, as a result of a change in their consumption behavior in order to reduce spending and enhance the culture of savings from the window of investment in real estate as a safe container to save savings and multiply them in the future.

The factors were clear and tangible, and the result disclosed by the Land Department was inevitable for those who mastered the art of analyzing real estate markets, but it was a fog for the swingers who did not trust the strength of the real estate sector in Dubai, who disappointed them once again and broke their pessimistic expectations .. So were the swingers disappointed?

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