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Expo Dubai opens doors of optimism for the real estate sector

Walid Al Zarooni

27 July 2021

In just over 60 days, the Expo 2020 Dubai, the long-awaited dream with its positive effects on the local economy, which began to reverberate years ago and continues until 2031 in several sectors, most notably infrastructure, hospitality, tourism and real estate, will kick off.

Organizing this international event - over a period of up to six months - raises optimism among all dealers in the real estate sector, whether they are developers, investors, or real estate brokers, and helps to find stability in the market, and to continue the upward trend that began at the beginning of this year.

Over recent years, the proximity of hosting the "Expo 2020 Dubai", and the accompanying increase in spending to develop infrastructure, has boosted the demand for renting real estate in the emirate, which contributed to improving the positive prospects for investment in real estate.

The real estate sector maintains high prices, taking advantage of the investment momentum generated accompanying the activities of the exhibition, and the strong demand for leasing within Dubai, and this momentum may extend in other emirates such as Abu Dhabi and Sharjah, with expectations of a surplus in demand that exceeds the real estate and hotel supply during the six months of the exhibition, starting from next October.

The exhibition will be a very good opportunity for real estate developers and brokers, to introduce the attractive investment opportunities in the real estate sector in Dubai, with the presence of more than 200 nationalities from around the world, while the recovery experienced by the real estate sector is due to the complete control of the “Covid-19” pandemic, and the rapid reopening of the economy .

The Expo 2020 Dubai comes to complement the incentives supporting the sector, and I expect the real estate to record strong levels in terms of demand growth and price increases, so I advise the investor who intends to invest in Dubai real estate, not to delay in pumping his money, and seizing opportunities, because the market is in an upward direction, Any delay in making a decision is nothing but a lost gain for the investor.

The country has succeeded in the successful marketing of the organization of the World Exhibition, which ensures a large presence of foreigners during the six months of organizing the exhibition, and from here there must be a role for the actors in the real estate sector in presenting the advantages of investing when buying a property in Dubai.

Investors participating in the exhibition should also be introduced to the advantages of investing in Dubai real estate, where the return on investment reaches 8-9%, which is among the highest in the world, as well as the ease of establishing businesses in the emirate, the initiatives to grant golden residency for up to 10 years, and a visa Retirement, granting citizenship to many creative and skilled groups, and all of this provides a positive atmosphere for the growth and development of the real estate sector in the short term.

We are confident that "Expo 2020 Dubai" will be the strongest global exhibition organized after the pandemic that harmed the global economy over the past year, and it will be the window through which the UAE knows its economy to the world.

Dubai's preservation of its position as the best destination for finance and business in the Gulf region helps increase the demand for real estate, whether buying or renting, especially the office sector, in addition to the emirate's preference for launching emerging investments, at a time when the exhibition comes to provide additional support during the coming period.

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

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