Dubai realty sector more mature, stable in recent years

Inayat-ur-Rahman, Business Editor

The real estate market in Dubai has become more mature and stable in recent years, and this is due to the laws of the Land Department and also to the great maturity of developers, brokers and investors who are now more interested in investing than speculation.

This was stated by Ismail Al Hammadi, founder and president of Al Rowad Real Estate, specialized in real estate consulting and marketing.

Al Ruwwad Real Estate, which specializes in real estate consulting and marketing in Dubai, monitored an almost total absence of speculation in the real estate market, with investors and owners tending to keep housing, whether for final use or for investment, with the support of the attractive investment return and the maturity that the emirate’s market has reached.

Al-Hammadi added, “The sale commission to the broker contributed to the disappearance of speculation that was previously known to the real estate market, and encouraged the retention of the property, as a large percentage of the owners tend to settle in Dubai and thus keep the real estate unit for final use or investment and lease it to others.”

Al-Hammadi pointed out that the record sales peak that the market is currently experiencing is different from the previous one. In the past, the investor used to buy the property for the purpose of reselling it quickly and collecting quick returns for several reasons, the most important of which is the absence of real estate culture, but now the reality is completely different.