Friday, October 22, 2021

Real estate and the Dubai Expo

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Mohammed Al-Hafiti

September 26, 2021

The UAE is always keen to host international events, due to its distinguished position and location in the Middle East.

Therefore, I had the honor of organizing the Expo 2020 Dubai, as this will be the first time that this is organized in the Middle East, Africa and South Asia.

Since the first World Expo, which was organized in 1851, which was known as the “Great Exhibition”, “Expo” exhibitions are still one of the largest and most important international events, and therefore there is always a direct impact on the economy of any region hosting this event.

One of the most prominent effects of the exhibition that appeared before it even began is investment in the Dubai real estate market, where we note that the demand for the real estate sector has continued to rise since the launch of Expo 2020 Dubai, and this is conclusive evidence of the real estate sector’s leadership in investment aspects in Dubai.

We must emphasize that the importance of the central geographical location of Dubai and its high infrastructure, as well as the highest standards of security and safety, is the biggest evidence of the success of the real estate market in the emirate, and we must not forget that Dubai has become a global destination because of the real estate landmarks that contributed to highlighting the emirate through real estate designs. Unique, such as Burj Khalifa, Burj Al Arab and other important landmarks.

The “Corona” challenge undoubtedly had an impact on all countries and global cities, but Dubai always gives us a lesson in every challenge.

Perhaps today, its wise handling of the pandemic conditions and the start of lifting restrictions is evidence of a return to the recovery of the real estate market, which increased sales of all properties, especially villas and properties overlooking the beaches and other distinguished locations due to the desire of people in large areas.

Dubai expects large numbers of visitors to visit Expo 2020, and accordingly many of them will need to rent or buy real estate, which will positively affect the real estate sector.

It is expected that the areas near the site of hosting the “Expo 2020 Dubai” will also witness an abnormal recovery in real estate requests, as the strategic location plays a major role.

Also, some properties will be on the highways leading to the event site, which will witness an increasing demand from aspiring investors to own real estate, whether for housing or investment.

The recent decisions regarding the granting of long-term visas for a period of five or 10 years came;

According to controls aimed at granting residence visas to large investors according to specific controls, as these decisions directly supported the sector.

There is also another factor that must be taken into consideration for the expectations of the Dubai real estate market, which is the proactive initiatives by the government, and work on sustainable real estate areas, which will contribute to more demand towards these developed real estate cities.

It is noted that a number of real estate developers are seeking to expand the scope of incentive offers to include ready-to-move-in units in the first place in the market, as well as long-term payment plans according to the concepts of payment after receipt, and other offers that contribute to the recovery of the real estate market, which will also lead to To make the local market one of the most competitive real estate sectors in the world by creating a long-term added value for real estate buyers and investors from all countries.

real estate consultant

To read the previous articles of the writer please click on its name. 

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