Investment returning to Dubai’s real estate market

By February 27, 2017News

The news that Dubai Land Department concluded Dh42 billion worth of property transactions in the first 45 days of the year – or nearly half of the total foreign investment in the emirate’s real estate in 2016, is a strong indication that the emirate’s real estate market has bottomed out last year.

If the same momentum continues, Dubai could create a new record in real estate deals hitting Dh340 billion this year. This would be way above the last year’s Dh259 billion property deals recorded in 2016. The news comes within a month after Dubai Land Department said that it has recorded Dh12 billion worth of land and property transactions within just two weeks – a record.

These figures are a living testimony of the fact that the worst for Dubai’s real estate market is over and the possibility of a strong growth path ahead. With sound regulatory environment that ensures that all stakeholders in the real estate industry play their due role in development, delivery, buying and selling activities – nothing could go wrong – despite challenging external factors.

As the saying goes – when the going gets tough, the tough gets going – the UAE resilience of the UAE economy will continue to help it going and bring in more foreign investment into the country.