Dubai realty curve on the rise

Business Bureau, Gulf Today

Walid Al Zarouni, Real Estate Expert and Chairman of  W Capital Real Estate Brokerage, confirmed that Dubai’s real estate sales curve is on the rise as Expo 2020 approaches.

Al Zarouni said the upcoming international event,  which is less than a year from now, helped drive demand for Dubai’s real estate sector.

He showed his great confidence in the effects of new laws and regulations that stimulate the real estate sector in the country during the past few years, which will support the real estate sector, and accelerate its growth during the next year. That will include the term relating to age limit of 70 years in real estate financing when paying the last installment, in addition to the event of Expo 2020 Dubai which is becoming nearer.

He confirmed that the real estate market in Dubai offers better opportunities for both investors and tenants alike, during the third quarter of this year.

Zarouni said that the figures and statistics are the best evidence of this rise, whether issued by the Dubai land Department , or one of the well-known real estate global and regional consultants .

Dubai Land Department reports show that real estate transactions in Dubai rose by 12% in 2019, compared to the same period last year.

The department announced a total of 4774  sale transactions during the month of October, the highest number of   deals in the same month since 2008.

 The latest studies and data issued by «Data Finder», a platform belonging to the «Property Finder Group» , a real estate consultancy specialized in real estate data  analysis, shows record numbers in  real estate sales in Dubai last October,  for the first time in 11 years, in terms of real estate deals on a monthly basis.