The real estate sector in the Emirates continues to be attractive for investment, by attracting wealth and capital owners, supported by the political, economic and financial stability witnessed by the country, as well as the high profitability that the sector provides with continued demand, contrary to expectations in many countries of the world, according to the “Interregional Center for Strategic Analyzes.” in Abu Dhabi.
A recent report by the Interregional Center confirmed that there is almost consensus among specialized companies that the real estate sector in the Emirates will enhance the growth process during 2024, given the multiplicity of investment options in multiple real estate products, the strength of the infrastructure and the regulating legislation that together provide strong opportunities for investors and those aspiring to live and work in the country. .
The center explained that the numbers issued by the real estate regulatory authorities in the Emirates confirm that the sector has regained growth levels equivalent to those before “Covid-19”, and even exceeded them during the year 2023, and economic growth expectations in the country during the year 2024 indicate achieving growth rates better than last year.
He added that the real estate sector in the Emirates will maintain good growth rates during the current year, with the government and the private sector launching new real estate projects and infrastructure projects in many regions due to the increase in population and expatriates coming from abroad for the purpose of investment or work.
Global Data, a British consulting and data analysis company, expects that the construction industry in the country will record an annual growth of 3.9% between 2025 and 2027, with an increase in the pace of investments in infrastructure, sustainable energy projects, and investment projects in industrial sectors and other sectors that attract investments.
Official data indicate that the residential real estate sector in Abu Dhabi achieved growth during the first 9 months of 2023 by 56%, reaching 67.8 billion dirhams, while the value of real estate transactions in Dubai increased by 37%, amounting to more than 500 billion dirhams.
According to official data, the real estate sector in Abu Dhabi achieved a sales value of 50 billion dirhams in 2023, while the value of real estate sales in Dubai exceeded 400 billion dirhams.
The international company Nomed Capitalist confirmed that the real estate market in Dubai is considered a global attraction for wealthy individuals, while Property Finder confirmed that real estate in Abu Dhabi and Dubai witnessed a significant increase in transactions during 2023, which confirms investors’ confidence in the government’s ongoing efforts to strengthen frameworks. Regulatory and investment environments in the sector.
Globally, the “Interregional” report indicated that the “Covid-19” pandemic has pushed the global real estate market into recession, due to low rates of return, with a severe shortage of housing for sale, and shifts in household spending, but with the gradual recovery, the world witnessed significant inflation. In mortgage prices and rates.
Policy makers are currently monitoring fluctuations in real estate markets, given that they are a major source of wealth and a major multiplier of economic activity in any country, while widespread concern has recently prevailed about the occurrence of a real crisis in the global real estate market.
Interregional pointed out that despite the impact of the global economic climate on the real estate market in various countries around the world and the tensions in some global real estate markets, real estate is still a safe investment.
2024-03-02 15:02:46
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