Real estate experts have confirmed that the Dubai real estate market is experiencing its most prosperous period for both investor and developer. Investors have made high returns on investment due to increase in resale profits and rising rents. The developer has made a good profit through the price hike.
Investing in Dubai real estate is one of the best in the world and outperforms many major markets, they said.
In turn, Abdul Karim Al Mulla, CEO of Standard Real Estate Management, said: “There is demand for villas and luxury units by high-income earners around the world.”
Al-Mullah added, “A large segment of the high-income population finds Dubai a safe place to enjoy highly developed infrastructure and services, and it enjoys many factors and amenities offered by developers to attract more tourists to live in Dubai. and developed spaces, particularly villas.” and townhouses,” we expect this momentum to continue in the coming period.
Also, Rath Ramadan, General Manager, Awad Karkash Real Estate said: “There is an increase in real estate profitability, now the unique real estate movement is higher than the previous years in terms of investment returns. Recorded in 2002 and 2003, and started to rise until the crisis in 2008, but medicine is not sick and dying.”
Ramadan explained, “(Real estate is the master of investment), and in terms of the dynamics of the real estate sector, there is a lot of profit in renting and selling, and the (corona) period is a golden period to buy real estate.”
Pointing out that investing in real estate will yield high profits, he stressed that the golden age of the real estate market will continue and pointed out that there are different categories of real estate investors inside and outside the country.
For his part, real estate marketing expert Alaa Masood said, “The pace of demand currently seen in the real estate market in Dubai has led to increased activity in the real estate sector and an increase in the number of buyers.”
Masood added, “There is a perception among investors that investing in Dubai can benefit them by buying one, two or three properties.”
In the same context, Muhannad Al-Wadiah, Managing Director of Harbor Real Estate, emphasized that “the real estate market in Dubai is achieving commercial and capital investment returns that exceed all expectations compared to their peers worldwide.” Thinking of selling now because it’s an irreplaceable opportunity. We always say: buy property in a time of crisis and sell it in a time of prosperity and high demand.
In the same context, Zahi Kasho, CEO of Elio Real Estate, said, “There are fundamental drivers in increasing demand for Dubai real estate, in which Dubai has proven to the world that the Corona crisis has not affected investors. Or tourism.”
He pointed out that the increase in tourist traffic continues, apart from the fact that Dubai is distinguished by new landmarks that dazzle the world, all this encourages investment and attracts many international investors.
He added: “Each developer and project has special advantages, and the competition between developers motivates investors to invest and benefit from special offers that give them more benefits. We are about to welcome a new real estate season, which will have new record numbers. , and they are in 2023. It is expected to exceed that achieved by a large percentage, and “will continue and increase at a faster pace in 2024”.
In the same context, General Manager of Royal Liwan Real Estate Company, Muhammad Hareb said: Although the prices are rising in the current period, some investors are buying to invest with the aim of achieving profit. There is an increase in investment income in the current period.
Hareb emphasized that supply and demand are good at the current time as he expects continued momentum in the real estate market in terms of the flow of capital to invest in Dubai and the arrival of investors, and this momentum is expected to continue in the first quarter. The year is 2024.
“The real estate market in Dubai continues to grow,” noted Mohamed Al-Mutawa, Chairman of the Board of Directors of Al-Waleed Investment Company, adding that large investments have entered, according to Central Bank figures. Emirates, especially in the real estate sector.
Al-Mutawa expected this momentum to continue as the numbers indicate a large surplus in investments in the country and high demand for real estate.
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