Key incentives identified for Dubai realty investments

Inayat-ur-Rahman, Business Editor

W Capital, the Dubai-based real estate brokerage, has identified main incentives for investors of different financial capacities to invest in the Dubai real estate  sector.

Walid Al Zarooni,  CEO, W Capital, said that Dubai has become a global hub, a preferred destination for living, working, entrepreneurship and tourism, and a sought-after destination for many people from all over the world, looking for investment and residence, in light of the urban shift that Dubai achieved in the past two decades.

Al Zarooni noted that there are 15 important incentives  making Dubai a safe haven for living and investment, which boosted the market performance resulting in record sales  month after month, the value of which has now exceeded a billion and a half dirhams per day on average.

Al Zarooni said that Dubai provides a legislative environment that takes into account the rights of all parties, and maintains the interests of citizens and foreigners alike without discrimination ensured by the speed of litigation.

This increases investors’ confidence and motivates them to reside on a permanent basis. Besides, Dubai  apply the best practices and rules within the real estate market, which regulate real estate ownership, off-plan sales, or leases.

Al Zarooni pointed out that Dubai has the best quality infrastructure in all sectors, added  the emirate’s keenness to harness the best-of-the art technologies and constantly upgrading the infrastructure projects to keep pace with the development and growth of Dubai’s economy.

“The world comes to Dubai throughout the year attracted by entertainment activities that impress everyone, in addition to the attractive tourist attractions within and around Dubai,” Al Zarooni said.

“W Capital” CEO pointed out that Dubai provides an investment climate characterized by maturity and continuous development, to keep pace with the requirements of investors, and boost  confidence in the market prospects, in addition to the ease of launching business and the high returns on investments.

 Zarooni stated that the real estate sector in Dubai provides multiple options for investors of all kinds, with various real estate products, starting from small-sized studios for sale or rent, up to luxury villas valued at hundreds of millions.

“No doubt, the economic recovery is one of the most important indicators that investors focus on, as it reflects the countless opportunities available within the economy,” Al Zarooni said.” The Dubai economy is achieving positive growth rates, benefiting from the improvement in the tourism, hospitality and real estate sectors,” he added.

Walid Al Zarooni stated that the ambitious government initiatives, which make the impossible a tangible reality, offer one of the main incentives to make Dubai one of the most prominent global investment destinations. Dubai’s government success is not only reflected in the real estate sector, but their impact extends to the business, tourism and hospitality sectors and entertainment.

He pointed out that the Dubai Economic Agenda “D33”, as well as the Dubai Urban Plan 2040, which aims to double the population of Dubai and increase the urban area, are among the initiatives that will enhance real estate activity in the emirate over the next two decades.

Dubai is developing a regional position so as to be one of the best hubs in sectors such as investment, living, security and safety, as well as high-quality infrastructure. This include hosting the largest number of regional headquarters of international companies.

Al Zarooni noted that the strong and sustainable real estate demand maintains continuous momentum. This makes an additional incentive for foreign investors to invest in Dubai, with the sector boom recording  unprecedented levels of sales and returns on investments at the same time.

He added that the strong demand for Dubai real estate, including people planning to move to the emirate, helped the scarcity of supply, in addition to the projects that are being implemented constantly to keep up with the demand from investors, which contributed to providing unlimited number of important investment opportunities.

The head of the “W Capital” real estate brokerage confirmed that the Emirate of Dubai has put forward in the global citizenship market through the facilitating residency rules, attracting a large number of investors and foreigners aspiring for an alternative homeland and a safe place to live and work, which is reflected in the recovery of the real estate sector.