The fundamentals of Dubai’s real estate market
Dubai has been a fore-runner in establishing state-of-the-art developments, implementing technological advancements and building skyscrapers that have made the headlines around the world. With many a feather in it’s cap, as Dubai prepares to host the upcoming World Expo 2020 and the city prepares to receive 25 million visitors for the period, there is more in store. In 2014, the emirate has also seen a large number of new properties being launched as real estate developers compete to take advantage of the positive sentiments in the market. Returns on property investment continue to stay high in the emirate.
Dubai’s property market and the wider UAE economy have benefitted greatly from the safe haven status that the country offers within the region. The UAE is seen as a very stable economy, well governed, well managed, and secure and we have attracted investments from around the world. Stability is the key to the growing real estate market in Dubai, strong economic fundamentals and improving market sentiment continue to drive the UAE’s real estate market while the World Expo 2020 would remain the key facilitator for the sector.
With sales momentum in their favour, Dubai’s developers are homing in on locations other than the traditional freehold clusters for their projects. Just weeks after Tecom Investment launched a villa project on the upscale Umm Suqeim Road, Jersey Properties has come out with an apartment cluster in Mirdif. News report: GN Properties Report
Newspapers read across Dubai have confirmed that residents can watch out for mid to long-term economic benefits for Dubai in the coming years. There are a number of important infrastructure projects that, some analysts estimate, will cost up to US$7 billion. This will naturally boost Dubai’s economy and ensure that its global real estate profile is once again an international talking point. Along with real estate, transport, tourism, trade and retail will undoubtedly reap the benefits and flourish in the coming years.