A successful real estate year.. and the next is better

Ismail Al Hammadi

November 22, 2022

The countdown to the real estate year 2022 has begun, the year in which the real estate sector in Dubai achieved the strongest performance in its history throughout all months of the year, including the hot summer months in which the market usually faced stagnation in transactions and a decline in sales, which prompted real estate developers to put up offers. Real estate and facilities, so you see the “summer” season full of real estate offers by the largest developer to the smallest, to encourage the sale movement in the summer.

Unusually, the summer of 2022 did not bring with it real estate offers from developers as usual, but rather brought with it more new projects in which the options varied in terms of area, location and quality, and August was considered one of the best performing months over the past 12 years, noting that “August” is one of the most declining months in performance every year, being a holiday month in general.. The question here is: What is the real estate sector waiting for for the remainder of the current year?

All indicators and expectations indicate an expected momentum by the end of this year: an increase in the number of transactions, an increase in the number and value of sales, and an increase in prices as well, with a greater demand for luxury real estate, but this does not mean complacency and reliance on indicators and expectations, rather all solutions must be taken. and appropriate actions, to realize these expectations and turn them into reality.

The end of the year is always the harvest days that the various economic sectors rely on, to review the achievements that have been made, and the results that have been reaped from an entire year’s effort. The same is true for the real estate sector, as local and international market studies are accelerating to reveal what it has achieved over a whole year. Real estate companies of all kinds, from development companies to marketing and mediation companies, begin to redouble their efforts in selling what can be sold of real estate projects launched this year, to devote themselves to a new year, new projects, and new business plans.

We are living this week in the atmosphere of a new version of the “Cityscape” exhibition, the largest real estate exhibition in the region, which we expect to jump in the number of deals achieved during the current year, especially as it coincided with a week full of launching new projects in the market, as it is expected that this version will witness A diversification in the real estate supply, and a focus on luxury real estate and specific projects by developers, so that the last quarter will be the strongest quarter in terms of expected achievements in the course of the Dubai real estate sector for the year 2022. In this regard, everyone must join hands, so that it will be a year of achievements for various companies and for the real estate sector first.

The achievements of the Dubai real estate sector so far are very satisfactory, and foreign media sources have spared no effort to praise these achievements, which upset the balance of the global real estate market, which recorded a significant decline in various real estate markets, as a result of inflation and the high interest on real estate loans.

Global data and reports also spared no effort in highlighting the local economic situation, comparing it with the global situation, its role in real estate sector activity, and the speed of its recovery that dazzled the world, but this did not come by chance, but rather thanks to several efforts to protect the sector.

Therefore, the future of the sector today is not limited only to the efforts of the real estate developer, or the government agency that organizes and runs the sector, but rather is the juice of the efforts of all concerned parties from the decision maker, the real estate developer and the mediator, through the real estate manager, the marketer, and all the way to the consumer. sector, and everyone without exception benefits in the long run.

I am fully confident that what is coming is better, and the sector will achieve an increase in the value of sales in the last quarter of this year, based on what is happening in the market arena currently, and the movements of these various companies, to start a new, more robust and active real estate year.

@ismailalhammadi

Ismail.alhammadi@alruwad.ae 

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