Dubai Real Estate 2023... Trends and Directives (2)
Ismail Al Hammadi
January 10, 2023
We complete last week's topic with you, and continue listing the set of points that must be focused on during the current year 2023 to support the real estate sector.
The redevelopment of the old areas of Dubai, and giving real estate owners the full opportunity to exploit and benefit from them, will have an effective role in enhancing the sector's profitability, as well as contribute to enhancing the market's recovery and its attractions, given the distinguished location of these areas.
On the other hand, citizen real estate owners will be given a fruitful investment opportunity, which can be included in the schemes aimed at raising the quality of life for citizens, and providing them with profitable economic and investment opportunities that guarantee social and family stability for them and for future generations.
Focusing on industrial and agricultural real estate is another point added to the list of interests in the real estate sector for the year 2023, in light of the current trends to strengthen the position of the industrial sector and support the agricultural sector to achieve food security. In these two sectors, and raising the level of facilities and support directed at them, in order to achieve the desired goals of the directed strategies, in order to raise the percentage of the contribution of the industrial and agricultural sectors to the gross product.
In parallel with these steps, attention must be given to this type of real estate, giving it its right of marketing and promotion to attract investors, and opening another door for earning in addition to the profits achieved from marketing residential real estate.
The warehouse and storage space sector also needs to be redirected during the current year, not only in terms of abundance, but in terms of quality, spaces, and services appropriate to these units, to enhance its profitability on the sector.
It must be in line with the requirements of companies active in the market in various sectors that need storage, and in line with the developments of the e-commerce sector.
Considering that Dubai is one of the most important shopping destinations in the region, retail spaces continue to occupy a large part of the real estate sector in it, and its effective role in revitalizing the tourism and shopping sectors, but so far it has not obtained its full share of marketing and promotion, as some shopping centers in specific areas still suffer from lack of Investors are attracted to them, and they need to be counted and given a new batch of support, in order to introduce them as investment opportunities offered in the market.
A very important point that can be considered the backbone of the real estate sector, and we must pay attention to it and focus on it during the current year, which is controlling the price rhythm of residential real estate in various regions, and providing competitive prices with neighboring regions and major international cities, so that the market does not lose its attractiveness that it has always maintained, from Through prices suitable for different financial portfolios of buyers.
(Continued)
• The warehouse and storage space sector needs to be redirected in terms of abundance, quality, spaces and services.
@ismailalhammadi
Ismail.alhammadi@alruwad.ae
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