Experts say that real estate in Dubai will help the Dubai Economic D33 Agenda achieve its goals and encourage millionaires and high-net-worth individuals to invest in one of the emirate’s growing economic sectors. 350 projects that are currently in development in the emirate are expected to progress more quickly as a result of the emirate’s property market, which saw 122,658 transactions worth Dh528 billion in 2022.
The development of real estate in Dubai has been planned to satisfy the market’s expanding needs and wide range of preferences. The sector is expected to have future growth that is spurred by strong cooperation amongst public and private stakeholders.
Last year, almost 55 real estate projects in Dubai totaling Dh11.9 billion have been finished, representing a gain of 57% in terms of volume and 8% in regards to value.
According to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, Dubai continues as one of the most alluring investment locations in the world because of its robust economy, sound business underpinnings, and capacity to consistently uncover new chances for expansion.
Because of Dubai’s expanding reputation as one of the best metropolises to live and work in, as well as its extraordinary infrastructure and supporting legislation, Sheikh Hamdan claimed that international investors, agencies, and enterprises tend to have great confidence in the city’s economy.
Due to its rising reputation as one of the greatest metropolitan areas to work and reside in, its remarkable infrastructure, accommodating regulations, as well as the escalating confidence of global investors, Dubai continues to be among the globe’s most alluring destinations for real estate investments in regards to quality, sustained development, and investment returns.
The consistency Dubai gives to investors, the modified immigration restrictions, as well as the entrepreneur laws, are among the key elements that will propel the market for real estate in Dubai in 2023 and even beyond.
The Dubai real estate industry is well-positioned to meet the difficulties offered by the world recession following a stellar output and performance year. I think the market will remain stable in this aspect and keep attracting HNWIs and overseas investors.
The Dubai Land Department (DLD) has endeavored to enhance the atmosphere for investment in real estate by delivering seamless services, enacting helpful regulations, nurturing an innovation infrastructure, combining different data sources via partnerships, and improving the skills of its people management to uphold the rigorous standards of exceptional service.
There were 1,391 licensed brokerage real-estate firms in Dubai, and 78 real estate appraisers—including 12 new ones—were licensed with the DLD. While there are 2,704 real estate agencies in Dubai, there are 42 licensed real estate valuation offices in Dubai, comprising 2 additional offices.
Dubai has become one of the top places in the world for real estate investments. The sector’s capacity to maintain consistent high growth as well as the extraordinary governance it has upheld while following the leadership’s instructions are also demonstrated by the record outcomes. Stay tuned with Houzon, to know more real estate Dubai news and updates.