Dubai, UAE: Homegrown real estate developer, ZāZEN Properties has commented on a report conducted by their sales partner JLL, a world leader in real estate services and analysis reports, to highlight the growth in the Dubai real estate market through different figures and developments in the industry. As per new findings from the report, over 40,000 expected residential units will be handed over by the end of 2022, showcasing the emirate’s strong and resilient sector, especially with how it was able to bounce back from the pandemic two years ago.
The number of Dubai residential units in total, including apartments and villas, has been reported to be at a total of 657,000 on March 31st, 2022 with the expected delivery of 42,000 additional residential units by the end of the year.
The supply of completed residential units is based on quarterly surveys of the entire Abu Dhabi and Dubai metropolitan areas that reflect units that have been handed over for immediate occupation, with the expectation for the year ahead being another successful one with continuous increase in demand, transaction volume and new project launches.
Madhav Dhar, Co-Founder and COO of ZāZEN Properties commented: “The recent report by JLL is just another testament to the strength of our real estate market and the endless potential that the UAE has to offer. This is an indication of both the increasing demand that the sector is experiencing, as well as a strong commitment by our government and its leaders to create these opportunities for potential investors and buyers from all over the world’
Madhav added: ‘We at ZāZEN Properties will ensure to always complement the success and growth of this sector through our continuous developments & services with a strong focus on sustainable community-centric developments, as we expand our portfolio while ensuring to keep sustainable solutions at the heart of our development process. A commitment that is also in line with UAE’s commitment to achieving net-zero by 2050.”
The prosperity that the UAE real estate market has showcased, particularly in the last couple of years has been truly impressive. This can be accredited in a huge way because the world has acknowledged and witnessed the UAE government's response and management of the pandemic, the excellent work of the entire healthcare industry, the successful vaccination drive and how every citizen and resident positively contributed to the betterment of the UAE community.
Additionally, the recent updates to the UAE Golden Visa regulation are just another great initiative that will spur investment into real estate even more, especially with the flexibility that these new rules have to offer, providing residents with a strong reason to invest in the country long term and allowing non-residents to make UAE their 2nd home.