Dubai is sooner poised to witness a noteworthy economic boost within the upcoming period, which have come as huge recovery signs, manifested in the state’s economic sector post the COVID-19 pandemic crisis, especially as the UAE is hosting EXPO 2020 Dubai, number of significant global events, festivals.
As per a report, the actual worth for the real estate sales during the initial 9 months of 2021, surged by 45.15% over the worth of 2020 sales, surpassing AED104 billion, with most of these sales were created available within the real estate units.
Statement from Ismail Al Hammadi, Founder, CEO of Al Ruwad Real Estate
Ismail Al Hammadi, Founder, CEO of Al Ruwad Real Estate, stated that the actual recovery of the economic sector has an evident effect on the real estate sector, which has made a substantial recovery, achieving upsurge in sales worth that has not been seen in the market for the past 10 years, with high demand for villas as the market enters an advanced stage of new project launches. Additionally, villas in general and flats and apartments in specific areas are in high demand, with price increases ranging between 2 and 3%.
As per Al Hammadi, within the third quarter of this year the market registered a union of sales transactions on the map, with the serviced real estate units. The sale index on the map upgraded as investors regained trust in the real estate market, the number of initial-time consumers improved thanks to long-term state residency visas, the enhanced investment environment in numerous economic sectors as a consequence of government efforts and facilitations.
Al Hammadi added that the real estate sector is anticipated to witness out enlargement of the real estate first-time buyers circle in the market, influx of latest investors from new markets, as well as upsurge in real estate prices, both in sales, rental, as the rate of investment return, rental return on real estate units recovers.
Press Release received on Mail
