Dubai realty to continue upward trajectory
- Last updated: January 12, 2023 | 19:00
Picture used for illustration purpose. File
Inayat-ur-Rahman, Business Editor
This was revealed by Saleh Tabakh, CEO of Al-Andalus Courtyard Real Estate Developer.
Saleh Tabakh, an expert in investment portfolio management, said that the year 2022 proved that all times of the year are suitable for real estate investment in the United Arab Emirates, especially in the Emirate of Dubai, whereas it was before limited to certain times of the year depending on changing factors.
“The record sales in Dubai real estate market reflect the great development that the market has reached in terms of various real estate products amid unprecedented activity in luxury real estate sales,” Tabakh, the CEO of Al-Andalus Courtyard Real Estate Developer said. He believes that there is no specific time of the year when the market is in preferable performing conditions.
He revealed that the sector does not suffer bear conditions associated with the holiday seasons or the summer holidays. The harbingers of the new year appeared in the first week of the year, which is usually a bear period, as the sector recorded the best annual start ever, with a sales value of more than Dhs7b during the first week, which is twice the sales for the same period of last year.
Tabakh believes that real estate is a safe store of value against financial and economic fluctuations, an ideal way to preserve and develop capital in the long term, and the best investment vehicle currently to preserve savings.
The expert pointed out that real estate also represents an opportunity to generate additional income, in addition to the original income, and is considered a type of guaranteed and fixed investment, because it is linked to fixed assets in most cases, which are difficult to dissipate.