What else may the investors wait for to buy a property in Dubai? Expert asks
Dubai: Expert, Walid Al Zarooni, noted the unprecedented robust investing response in the Emirate of Dubai, and the record turnout local and foreign investors take out. Most of the real estate developers in the emirate hanged a “sold out” sign, showing that their offered units were completely sold out.
Walid Al Zarooni, "W Capital" Chairman, said that the real estate market is currently going through a period of strong recovery thanks to several factors, most notably the recovery from the repercussions of the "Covid-19" pandemic and the acceleration of vaccination campaigns compared to the best global levels. Government initiatives for foreign ownership of projects and granting citizenship and golden residency to talents, also gave the sector an uplift.
"In light of this unprecedented boom and sales activity for ready-made and off-plan residential projects, the looming question is:What else may the investors be looking for to inject their money in the real estate market?” asked Al-Zarooni. “The market is full of attractive opportunities and attractive price offers," he added.
The Chairman said that hesitation at the present time does not do as it may waste attractive investment opportunities. Delaying the purchase decision is never in the interest of the investor because he may not find a better opportunity in the future in they desire to own a property in Dubai.
He stressed the fact that investors should be decisive at this point and not hesitate when they think of investing in the real estate sector .They are advised to benefit from the availability of good investment opportunities , especially with the prices being encouraging for attractive deals.
The facilities provided by developers to investors, such as zero down payments, and the long period of payment plans ,as well as the strong investors’ appetite, are all positive indicators of good return added to upcoming event of " Dubai Expo 2020 ".
He stated that the real estate sector performance indicators encourage investors to quickly pump their money into the sector, in light of an expected recovery and more stable performance, and prices taking an upward track both in the medium and long terms.
The Chairman said that some foreign investors found it difficult to be in the midst of queues wishing to invest in some of the favorite real estate projects in Dubai.
Al-Zarooni believes that Dubai has provided unprecedented incentives that encourage foreign investors to invest in the real estate sector before opportunities are lost, especially the high return on investment, which is among the highest in the world at rates of 7 and 8 percent.
Walid Al-Zarooni expected that the clear recovery during the first five months of this year may be a good proof of the sector’s continued growth in the coming years.
He stressed that the government is strongly supporting the factors revitalizing the real estate sector from time to time, through flexible legislation and renewable initiatives that support population growth and increase market demand directly.
He referred to the unprecedented facilities for foreign ownership of commercial projects in full, which provide additional support, to be effective starting from June 2021.
"Real estate prices are on a trajectory path since the correction period during the past year,” Al zarouni said. “This increases the investor's ability to achieve profits and double the value of their investments in a few years. Therefore, I advise them grab the available opportunities and speed up purchases," he added.