By: Muhammad Abdul-Wakeel
UAE – Mubasher: The real estate market in Dubai is set to flourish this year, backed by a series of positive indicators that are promising great outlook for the sector.
Chairman of W Capital Real Estate Brokerage Company Walid Al Zarouni identified 10 positive factors that call for optimism in the real estate sector in the emirate during 2020, according to a press release published on Friday.
Al Zarouni said that the first of these factors is the issuance of January 4th document announced by Sheikh Mohammed bin Rashid Al Maktoum, UAE’s prime minister and ruler of Dubai, which boosted confidence in all the economy’s sectors, especially the real estate sector.
Dubai Expo 2020
Expected to attract 25 million international visitors, Dubai Expo 2020 exhibition is set to enhance the demand for real estate and raise confidence in the business of real estate investors in Dubai, he noted.
The real estate expert mentioned that the third factor includes easy conditions and facilities made available by developers that are attracting new residents to the UAE.
Laws and Legislations
The fourth factor is the real estate laws, legislations, regulations, and incentives that energised the sector and boosted demand, W Capital’s chairman added.
Al Zarouni noted that the fifth factor is the recent studies and reports, issued by government agencies and private research centres, showing optimistic signs regarding growth in the real estate market.
The top official said that the sixth factor is the great potential in the real estate market in Dubai, and in the UAE in general, which played a crucial role in luring more local and foreign investments.
The seventh factor is represented by Dubai’s huge qualifications including high-quality infrastructure and logistics, Al Zarouni maintained.
Al Zarouni mentioned other factors that will call for positive sentiment regarding in Dubai’s real estate market, including the urban booming and the population growth in the UAE, in addition to the security and stability the GCC country enjoy, which are the launch pad for a new era of growth in all sectors in the economy.