Out of the box

Fresh blood

Ismail Al Hammadi

January 19, 2021

By reviewing the annual real estate reports issued by the Dubai Land Department, on the performance of the real estate market annually, the reports show that the real estate sector achieved real estate sales of 77 billion dirhams during 2018, which recorded the entry of about 30 thousand new real estate investors to the market.

We need initiatives that give investors full confidence in the sector to ensure their stability.

On the other hand, in 2019 the sector achieved real estate sales estimated at about 81 billion dirhams, and more than 34,000 new real estate investors entered the country, while real estate sales in 2020 achieved more than 72 billion dirhams, at a time when no statistics have yet been revealed. Accurate number of new investors who entered the market last year, knowing that 2020 is the best year for registering the largest number of new investors residing in the country in particular, given the set of circumstances that contribute to this, including the availability of financial portfolios resulting from the change in the behavior of individuals from Excessive consumption to spending cautiously, and promoting the idea of ​​saving, which also included the value of annual travel costs, after much reluctance to travel outside the country due to the Corona pandemic, in addition to real estate prices that have reached attractive levels, and distinctive facilities and payment plans provided by developers in 2020. Other than previous periods, as all were in the interest of the investor.

We are awaiting accurate data on the number and background of new investors who entered the real estate market in 2020 from the official authorities, which we expect, as we indicated earlier, to be the highest percentage of residents within the country, we hope that the current year will witness the entry of a greater number of investors, and many more years. 2018, 2019 and 2020, and this of course will not happen unless efforts multiply to exploit all available circumstances and ways to attract investors to the real estate sector, as well as exploit the conditions and advantages of the state, to be a second home for all residents, as it is now for most of them, and this is what must be focused on during the next stages: Encouraging Residents to seize opportunities and enhance their entry into the real estate sector.

Following the example of what was stated in the message of the 15-year-old in the UAE government to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai: “The next requires redoubled efforts and new blood.” The future of the real estate sector in the Emirate of Dubai needs the concerted efforts of everyone. Without exception, and the cooperation of all other sectors associated with it, to pump new blood more from the inside than from outside, and to work to establish an integrated work mechanism and laws aimed at focusing on the sources of internal investors, and strengthening the chains linking them to the real estate sector, without neglecting external sources.

We need to intensify efforts to come out with real estate initiatives and activities that have a greater role in encouraging real estate investment, expanding the circle of attracting investors, and being capable of stopping any possible bloodshed in the sector, and the exit of investors from the market .. Initiatives that enhance attracting more investors and provide They have the full protection of their rights as individuals and institutions, and give them full confidence in the sector, to ensure their stability and not exit from the market in the future.

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