Out of the box

Dubai 2021... the year of trust

Ismail Al Hammadi

December 21, 2021

Hundreds of real estate projects were launched during the current year by developers, billions of dirhams were harvested by real estate sales in the Dubai market during 2021, and thousands of new players entered the real estate market during this year.. All this is happening in an economic stage, to say the least, that it is the most difficult in the history of the economy global, but what happens?

What does the year 2021 mean to us in real estate?

The year 2021 proved to us the sincerity of the saying “achievements are born from the womb of crises”, and this is what actually happened in the real estate sector and the local economy in general. This is the method that has been adopted at the level of all economic sectors and areas that stimulate the investment environment, and in light of it, the infection of optimism has gradually spread to include everyone.

The year 2021 proved to us how the volume of trust in our country’s government and its economic sectors increased and doubled, and from there to the real estate sector, which in turn gained double confidence from developers and investors. The result was financial leaps and global value for Dubai real estate, and it was the best real estate year ever with the consensus of market experts and local reports Globally, where the value of mortgages increased, off-plan sales also rose, secondary market sales rose with them, demand for villas increased, and waterfront properties gained unprecedented momentum, in addition to luxury properties that gained popularity during this year.

To say the least about the year 2021, the real estate has soared high and globally, and the main motive for all of this is confidence, or rather successive accumulations of confidence that prevailed in the various investment sectors and reaped its results in the real estate sector, based on the economic facilities and packages stimulating the establishment of businesses between reducing and canceling specific fees, Especially by incorporation or renewal, passing through the flexibility of financial institutions in granting financing and loans and reducing their interest, which played a role in raising the level of this confidence, without neglecting to allow foreigners to own their projects by 100%, and reduce the purchase value of real estate to obtain a long stay (from one million to 750 thousand dirhams). In addition to the long-stay law for professional cadres, innovators and scientific skills, leading to the decision to change the weekend to keep pace with the global work environment and the global economy, and various other legislation issued this year with the aim of enhancing Dubai’s environment as a global environment for living, working and housing.

All of them combined made the reality of the real estate sector in 2021, and all of them together contributed in one way or another to stimulating the sales market and the market for offering projects, and all of them created a new position for Dubai real estate in the world that is expected to continue over the coming years, and the main reason for everything that has been achieved this year and what will be achieved Later it is "trust", and without trust, Dubai real estate would not have crossed the global geographical borders at the height of the largest wave of closure the world has witnessed for more than a year.

In short, 2021 was just a year to test the extent of the confidence that Dubai enjoys in the world, and indeed it has gained full confidence, as evidenced by its achievements.

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