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Local Investors Continue To Invest In Dubai’s Real Estate, anticipating persistent growth

Posted by cafedetech on July 2, 2024
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Dubai’s property sector encountered two boom-bust cycles that reduced the confidence and interests of investors. One incident occurred during the 2008 Global financial crisis, and the second time it faced this incident was during the COVID-19 pandemic.

However, now the property sector of Dubai has strengthened its foundation and improved its performance and growth. After three and a half years, the economy is growing rapidly with no sight of a crash. Now, more people are interested in Dubai’s property sector because of its high ROI.

Real estate professionals are confident that Dubai will not have to face any boom-bust cycle anymore. The government has introduced the concept of Escrow accounts to secure investment. Furthermore, the number of people visiting and investing in Dubai is increasing over time

CFO of Amwaj Developments, Hassan Hijazi stated, ““Dubai’s real estate market has significantly evolved over the years, transitioning from the boom-bust cycles of the past to a more stabilised and sustainable growth trajectory. This maturity is driven by several factors, including implementation of stringent regulatory frameworks, enhanced transparency, and a strategic focus on long-term economic diversification.”

He further stated, “The Expo 2020 legacy and various government initiatives, such as the Golden Visa programme, have also played a vital role in attracting and retaining investors, reinforcing Dubai’s position as a global investment hub.”

He was of the view that Dubai attracts investors of different interests. Millionaires, Billionaires, and local and foreign nationals are considering investing in Dubai because of its strategic location, modern developments, and world-class living facilities.

Imran Farooq, CEO of Samana Developers discussed the fascination and attraction of Dubai’s property sector in these words, “The city stands strong and tall on its foundations. Dubai has shown it to the world by successfully organising global events such as Dubai Expo 2020, UAE COP28, and its exemplary handling of the Covid-19 pandemic. It only makes sense that Dubai’s real estate sector has matured enough and moved beyond the boom-and-bust cycle.”

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