Real estate officials and specialists stated that the real estate market in Dubai is likely to witness a new boom in sales during the fourth quarter of this year, supported by the positive effects of hosting and holding a number of important international events during this period, most notably “COP 28” and the “Dubai Airshow”. In addition to various exhibitions in the business sectors.
They explained to «Emirates Today» that the fourth quarter will witness an expanded and intense activity in the events that will be held in Dubai, and attract investors and visitors from different countries of the world, which increases the chances of growth in demand for sales of real estate projects in Dubai, pointing out that the launch of many new projects during The recent period, and the sector’s diversification distinction, make it highly suitable for attracting more investors.
In detail, Raad Ramadan, the general manager of the Awad Gargash Real Estate Company, said, “The real estate sector in Dubai is currently going through an exceptional period of growth in demand for unit sales of all kinds, especially luxury real estate units and villas,” noting that “the sector is a candidate for a new boom in growth.” Real estate sales during the fourth quarter of this year, with the support of the great momentum of the events that will be held during that period, especially the Conference of the Parties (COP 28) hosted by the UAE during that period, with the participation of delegations from different countries of the world.
He added, “Dubai’s hosting of (Expo 2020) had remarkable positive effects on the real estate sector, and hosting the (COP 28) conference is expected to have positive repercussions on growth opportunities for real estate unit sales.”
He pointed out that «the real estate sector in Dubai has witnessed during the recent period a great activity in offering many new real estate projects, which supports the diversity of supply in the markets, and enhances the attraction of many new investors».
And the real estate broker, Hussein Al-Sheikh, explained that «the fourth quarter of this year will witness a momentum in demand, whether in the activity of tourist groups, with the improvement of the weather starting next October, in addition to Dubai hosting many important exhibitions and events during that period, which supports many One of the growth opportunities is the demand for sales of real estate units in Dubai markets.
He added, “Since the beginning of this year, the real estate market in Dubai has witnessed a great activity in demand at rates that exceed the years before the pandemic, with the great boom that Dubai witnessed during the recent period, whether in the number of visitors or residents,” noting that “the quality of life in Dubai attracts many From visitors to make decisions to reside and work in Dubai, and thus buy new real estate units, which has appeared remarkably in the market during the recent period, by monitoring buyers of real estate from European and Asian nationalities, who are not residents at the present time, and are planning to reside during future periods ».
For his part, Sufian Al-Salamat, Executive Director of the Somme Real Estate Company, said, “The local markets are characterized by a great diversity in the supply of real estate units, which increases the attractiveness of the sector for investment, whether from investors outside or within the country.”
He added, “The increase in the number of visitors during the period of events and exhibitions, in addition to the activity of tourist groups, enhances the growth opportunities for real estate unit sales, especially with Dubai attracting new investors in the real estate sector, whether by visiting it for tourism purposes or participating in events related to business sectors.”
The broker and real estate expert, Ahmed Abu Bakr, indicated that «Dubai leads advanced positions in the world in attracting investors in the real estate sector, supports opportunities to receive a new boom in sales that enhances the stage of exceptional activity in sales, especially during the fourth quarter, which witnesses expanded activity in receiving visitors and international delegations. Participation in events and exhibitions, especially the (COP 28) event hosted by Dubai and attracting expanded international participation.
2023-08-01 20:26:42
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