Expo, incentives boost realty sector

Inayat-ur-Rahman, Business Editor

Dubai real estate is preparing for a new cycle of growth and record numbers, taking advantage of the changes taking place in the world, which were in the interest of the real estate market in Dubai in view of the good economic performance of the local economy and government support for the real estate sector and the local economy as a whole, whether at the level of the emirate or the country.

“The real estate sector benefits from the legacy left by Expo 2020 Dubai, which attracted nearly 25 million visitors from different countries of the world, as well as benefiting from the post-corona situation by virtue of the large precautionary measures taken by the state to confront the epidemic without affecting the daily lives of people, which encouraged and attracted thousands of investors from all over the world work and live in Dubai. In addition, the stimulus measures have supported the real estate market and strengthened the foreign investor’s confidence in the local economy and its ability to overcome difficulties.”

Ismael Al Hammadi, founder and CEO of Al Rowad Real Estate, specialised in real estate consultancy and marketing, said, “The real estate sector in Dubai has many incentives that will keep the momentum on sales at record levels and end the current year with new numbers that enhance the status of the real estate sector and enhance the percentage of its contribution to the sector.

“Al Hammadi added, “Large numbers of football fans will be Dubai during the sporting event. It is a great opportunity to explore Dubai and learn about its advanced infrastructure, including the transportation network, airports, roads, green spaces, shopping centers and what it provides, in addition to the various housing units. All of these factors help to attract a segment of the population.”

“Al Hammadi clarified that the factors stimulating the emirate’s economy do not stop. After the completion of the Dubai Expo, major events are coming, starting from October and the beginning of the tourist season and the return of business tourism and conferences, which attract new conferences every year for the first time in the region.