UAE continues to play key role in global supply chain, technologies

Inayat-ur-Rahman

Over the medium to long-term, investment in UAE real estate sector is likely to be a huge earning opportunity, in view of relatively strong US dollar and positive outlook of oil price.

There is no country like UAE in the world; developed by such a growth mindset, top class infrastructure, safety, internationalism, and no income, capital or inheritance tax environment. Dubai has been recently ranked 8th top global financial centre in the Global Financial Centres Index (GFCI).

This was stated by Kashif Ansari, CEO, IQI Global, during an exclusive interview with Gulf Today on the auspicious occasion of UAE 48th National Day celebrations.   

“UAE is an important player in Belt and Road equation of China and continues to play an important role in the global supply chain and technological advancement.”   

Ansari greeted the visionary Rulers of the UAE and the residents of the country on the 48th National Day, adding that he believes that Dubai Expo 2020 will herald an economic progression not only for UAE but also for the GCC at the macro level.”

“It’s not about next year, momentum has been commenced, generated by the government and investors are extremely excited for the upcoming event.”

“With the upcoming Expo 2020, we believe that the UAE will continue to serve as our regional real estate business hub due to its strategic location, international accessibility, and robust legal system,” he added.

 “We at IQI Global believe that Expo 2020 would bring 5 strategic benefits for UAE.” Economically, it would create lot of interest among local and global businesses in the coming months.

Infrastructure investment is getting back in the economic landscape which contributes immensely to the GDP equation. Its empirical proven, infra-structure bolster GDP by 0.2 to 0.7% to the equation. UAE GDP is going to meander around 2.5 to 3.5 % in 2020. Expo makes the major contribution to the calculus.

UAE gets the global limelight among investors. Dubai is the New York of GCC. 177 nationalities are expected to attend the mega expo 2020 event. Hotel industry and tourism are witnessing lot of booking and excitement of the event .

Media and press are all geared up to provide colossal coverage to the mega event.

UAE has become the target for Chinese investors and is under the radar due to her strategic geography and infrastructure. UAE continues to draw investors due to her significant role in Belt and Road equation.

 IQI Global are buoyant on the economic outlook of UAE and continue to believe in the Government’s economic and financial policies for the country.

Meanwhile, Walid Al Zarouni, Real Estate Expert and Chairman of  W Capital Real Estate Brokerage, also mentioned 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.

Sales off-plan accounted for 59% of the total property transactions in the emirate, with 2841 transactions, the highest rate since September 2015 and the second highest month in 11 years.

Off-plan  accounts for 59% of residential transactions and remains the preferred choice for investors, due to its attractiveness in terms of prices, payment plans and exemption from fees.