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Why Dubai now?

Walid Al Zarooni

June 06, 2021

Dear readers, I had previously written on the pages of the "Emirates Today" newspaper, an article in two episodes under the title "Why Dubai?", but this time let me add to the title of this article the word "now" as an adverb for the present time.

The addition means that now is more appropriate than ever to invest in Dubai in general, and it seems that the future is bright and promising for real estate investment in the emirate, which is also one of the highest and most attractive rental returns in the world.

In particular, Dubai real estate represents a destination for the final investor, who sees it as the most attractive city for him, whether to live, work or invest compared to other cities in the world, as new offers provide buyers with a variety of options, while prices continue to attract them at reasonable levels with a shift in demand patterns due to The “Covid-19” pandemic, in addition to the drop in the mortgage interest rate to its lowest level ever.

After about a year and a half, which was difficult for the world, Dubai was able to control the “Covid-19” pandemic, and maintain the vitality of its real estate market thanks to the proactive measures and innovative initiatives launched by the rational government and the recovery strategy that has proven to be effective, and put the emirate at the forefront of cities that have re-circulated Gradually accelerating the economy, leading to a total opening of various sectors, while maintaining its commitment to ensuring the public safety of its residents and visitors.

In light of these decisive steps taken by the government to deal with the crisis, the Dubai real estate market showed a high level of flexibility and attractiveness among local and international investors during the past year, represented in the registration of more than 51,000 real estate transactions worth more than 175 billion dirhams, according to the data of the Land Department. and property in Dubai.

The promising market succeeded in returning to the level of sales behavior before “Covid-19”, achieving positive results despite the global outbreak of the pandemic, and the accompanying precautionary measures and measures, which cast a direct shadow on various sectors, and affected government and private institutions and individuals alike. Including the suspension of various commercial activities, and the suspension of air traffic for long months.

Official indicators and figures during the first quarter of this year show the continuation of positive results for the real estate market, which achieved a growth in the number of transactions compared to its counterparts in 2019 and 2020, with rates reaching 27 and 47%, respectively.

With the increase in demand for ready-made residential properties in the emirate in a positive market trend, in addition to the return of recovery again to the luxury real estate market, which has become a safe haven for the wealthy from all over the world, and with the observation of the great recovery in the real estate market after the easing of restrictions, and this was a motive for buyers to return strongly With a boost supported by attractive prices, the market has so far witnessed a rapid recovery in the form of a strong positive bounce from the lowest levels during the pandemic period.

This is in addition to the tourism boom that has taken place since the last quarter of last year, which together with the real estate sector represents about a third of Dubai's local economy.

I believe that the real estate market in Dubai will gain more momentum from the gradual opening of global markets, and the approaching date of the launch of "Expo 2020 Dubai", the event that the whole world has been waiting for.

Dear Readers.. If you are looking to invest in affordable properties that provide strong rental returns, then Dubai is your ideal destination.

Chairman of the Board of Directors of “W Capital” real estate brokerage

To read the previous articles of the writer please click on its name. 

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