Out of the box

2021 and the real estate breakthrough

Ismail Al Hammadi

28 July 2021

The beginning of the current real estate year was full of anticipation and apprehension among investors and developers. What will happen to the world?

And what are the developments of the “Covid-19” epidemic after the emergence of a series of mutated strains that confused the world?

And how will the performance of the real estate sector, although the beginning was optimistic, given the volume of sales achieved by the sector at the beginning of the year, compared to the previous periods of last year?

In light of this anticipation and monitoring of the trend of the market curve, the sector was able to achieve a performance that exceeded expectations, and even more than that, as market analyzes indicate that sales for the month of June 2021 are the highest value on a monthly basis in five years, recording a value of 14.7 billion dirhams compared to 9.9 billion dirhams. dirhams in 2016, and about five billion dirhams in 2017, while the first half in total achieved a sales value of nearly double the value, during the first half of last year

This outcome did not come out of nowhere, nor was it created by circumstances. Rather, it is the result of a combination of efforts and various facilities adopted by government agencies, financial institutions and developers, with the aim of providing an appropriate investment environment for all, in light of the difficult economic conditions the world is going through.

Based on these facts, it can be said that the year 2021 is the year of real estate breakthrough on several levels, including prices, liquidity, unit purchase facilities, real estate loan rates, as well as comprehensive economic initiatives. sector, but the question arises: How will we enhance this performance during the remaining second half?

To support this success, the situation needs to redouble more efforts, and offer more facilities to break the challenges. It also needs to develop an integrated plan, sustainable and thoughtful solutions to achieve the desired sustainability, include more investors in the market, and support the return of those who left for fear of loss.

Finding sustainable solutions, especially with regard to those permanent fees associated with the property (for life), is the successful way to maintain what the sector has achieved so far.

It may seem difficult or devoid of reality, but it must be remembered that the market witnessed challenges in the past that everyone thought that there was no solution to them, but the opposite happened, and solutions were found for them that are still ongoing until now, and were credited with enhancing the performance of the market and achieving the breakthrough that The sector is witnessing, during a year that is considered the second most difficult year for the global economy.

• June sales are the highest on a monthly basis in five years.

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