Dubai, UAE: The Emirate of Dubai continues to enjoy the global status as a top destination for investment on properties for its resiliency, integration of disruptive technology to improve transparency in property transactions, and for its support to real estate sector with relevant regulations and legislations protecting investors.
Dubai has been implementing innovative measures to soften the effects of global real estate trends. Considered to be young market, Dubai is now at par with New York and London for its quality of real estate properties and for the volume of transactions each year. Dubai Land Department has reported than in the year 2017, the recorded property transaction has reached 69,069 with a value of Dh285 billion, 65% of which came from foreign investors. The total amount of property transaction was higher than the GDP of 144 out of UN-recognized 211 countries.
Most property investors in Dubai would share that the emirate’s global connectivity is a huge factor to consider. Dubai is globally accessible through direct flights from all major cities and with the current ease in visa rule, it is anticipated that the real estate sector is one to benefit. Dubai’s political stability, diversified economy, and central location are also among the top considerations for most investors.
Dubai property investors enjoy consistent high yield of 7-10%, a good return for their investment. On top of this, with the adequate supply of available properties, the high demand for it does not necessitate higher property prices.
The competitiveness and resilience of Dubai property landscape is a reflection of the huge efforts of the Dubai government through the Dubai Land Department, whose mandate is to ensure Dubai reaches the global status as a top destination for property investment. To focus its efforts in doing so, the Real Estate Investment Management and Promotion Sector, DLD’s investment arm, has been established. Under the leadership of Majida Ali Rashid, DLD Assistant Director-General and the CEO of Real Estate Investment Management and Promotion Sector, Dubai property investment landscape has succeeded in gaining trust and confidence of property investors from several countries in the world through implementing regulatory framework and transparency.
Real Estate Investment Management and Promotion Sector is also actively pursuing the promotion of Dubai properties, benefiting Dubai-based property developers, by conducting a series of global roadshows to present the competitive advantages of investing in Dubai properties. It is also supporting local initiatives as a strategic partner promoting Dubai properties such as Dubai Property Festival, a festive property platform where visitors and investors are offered mega deals and special rates exclusively during a three-day event on 26-28 March 2019 at the Dubai World Trade Centre.
“Dubai Land Department continues its ambition to provide a transparent real estate sector that ensures its regional and global leadership, as one of the world’s favourable investment and tourism destinations, with state-of-the-art infrastructure, diversified economy, strategic location, and as one of the safest cities in the world. All these elements along with a transparent real estate sector show why other nationalities are investing in Dubai real estate market,” said Majida Ali Rashid.
More than the direct impact of Dubai’s efforts to promote its real estate sector, there are also a number of factors that keep property investors lured to Dubai. Aside from its diversified economy and political stability, Dubai has been attracting investments including major brands, entrepreneurs, and global giants. Late last year, a law has been implemented to further attract FDIs which will translate to more investments, generation of more jobs, increase in income and purchasing capacity, thus higher demand for properties can be expected.
Next year, in time for Expo 2020 Dubai, over 20 million visitors are expected in Dubai, thus the anticipation for lease and hotel rates to go up. Purchasing Dubai property now, either as a second home or for investment would mean shorter period to gain back the investment made.
All these on top of Dubai’s world-class infrastructure which conveniently connects every community to schools, hotels, hospitals, recreational areas and places of work via efficient transport system, low crime rate, most exciting playgrounds in the world, smart city preparedness, business-friendly environment, and Dubai’s reputation as a place of unlimited possibilities. Indeed, investing on Dubai property is a winning option.
DLD’s Real Estate Investment Management and Promotion Sector through Dubai Property Festival will once again showcase Dubai’s attractive property investment options offered by major real estate companies in Dubai to 20,000 anticipated visitors. DPF will also exhibit interesting properties from other countries thru its country pavilion feature. For interest as a local or international exhibitor, or to exhibit, register online at www.dubaipropertyfestival.com or send inquiry to info@dubaiproperty.com.
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