Dubai, UAE, 5 November 2015

A local study anticipates a rebound in confidence in the real estate market, with 45 per cent of property agents expecting a rise of 30 per cent in average property values over the next 12 months.

According to Hafeez Abdullah, Chairman of 'The H Holding Enterprise', a leading investment firm with a large portfolio of projects in the UAE, a more promising period lies ahead for the real estate market as global uncertainties appear to be on the wane.

"A recent CBRE report shows that property sales in Q3 2015 were two per cent lower than the sales during the previous quarter," says Abdullah. "However, there is a consensus that things will change for the better. Our division Omega Real Estate recorded stabilized operations over the past period, but the team forecasts more active operations for the rest of the year."

"The Knight Frank's Middle East Capital Tracker added that, the US dollar remains strong against the euro, the British pound and the Russian ruble. Since the UAE dirham is pegged to the US dollar, real estate in Dubai is now more expensive for buyers holding other currencies," added Abdullah.

"We are witnessing a big change in the real-estate industry in Dubai and wider region, which should lead to growth," said Abdullah.

Omega Real Estate has built a loyal client base. The company which is backed by a strong investment firm is planning to put in more investments in the coming period.

While only 13 per cent of the agents reported increase in sale prices, 60 per cent were of the opinion that the city's real estate market was on downward journey, revealed The Dubai Real Estate Tracker survey.

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© Press Release 2015