Dubai real estate sector top hub for savvy, smart investors
- 30 Aug 2023
Inayat-ur-Rahman, Business Editor
Dubai real estate market is booming and global investors are parking huge funds in this asset class. Dubai real estate has become a new asset class for savvy and smart investors.
This was revealed by Kashif Ansari Co-founder and Group CEO Juwai IQI, during an exclusive interview with Gulf Today, adding that the influx of global investors into Dubai real estate market heralds’ good omen for the developers who are coming out with new projects to meet the growing demand.
In the first half of 2023, Dubai’s real estate sector saw the registration of 76,119 real estate transactions worth Dhs283b ($77b) as per the city land department. This is huge and sends a strong signal to global investors who are keen to protect their wealth by taking a position in real estate, which is the new global currency. Tangible assets are in vogue in the financial markets again.
“1970 era is back whereby many global investors have taken position in real estate and gold and silver. The main areas in Dubai with most real estate transactions happened year-to-date are, Business Bay, Burj Khalifa, Dubai Marina, Al Barsha South Fourth, Wadi Al Safa and Palm Jumeriah,” Ansari added.
“Juwai IQI expects Dubai real estate market will continue to upsurge for the next 4-5 years with strong capital appreciation and rental yields.
“Moreover, the company forecasts that Dubai real estate market will hit 18% to 20% growth rate by 2024 -25. The potentially strong growth rate will leave many places like New York, London and Paris behind Dubai. Demand for luxury housing is very strong as sophisticated and smart investors are moving funds in Dubai.”
“Dubai remains a strong desire place for working professional and global investors who want to elevate their lifestyle and good living. Global companies, top media houses like CNN, Bloomberg and CNBC are based in Dubai and expanding their businesses further. This validates Kashif point that Dubai is the place to be in the next 5-10 years to leverage for her booming economy and robust growth.”