FIFA World Cup Will Help Dubai’s Real Estate Market In Q4 Of 2022

  • by admin
  • 2 months ago
  • Real Estate Dubai,
  • 1
FIFA World Cup Will Help Dubai's Real Estate Market

FIFA2022, Which Will Begin In The Qatari Capital Of Doha, Is Set To Bring The Upcoming Period Back Into The Spotlight In Dubai’s Real Estate Sector.

The focus of the entire world is on FIFA 2022, the current biggest tournament. From November 21 to December 18, the Qatari capital of Doha will host the FIFA World Cup for the first time ever in the Middle East. The FIFA 2022 World Cup has recently caused a very active movement in Dubai Market, as per the report. According to the FIFA website, 2.45 million tickets sold. 1.5 million More than what is anticipated to attend the FIFA World Cup in Qatar in 2022.

Avalon Properties’ CEO, Ahmad Ibrahim, says, “Real estate in Dubai is in higher demand lately from investors who view the city as a desirable tourism hub for the GCC and a city of dreams. Following a noticeable increase in people’s interest in real estate investing during FIFA22. Which will soon begin in the Qatari capital Doha, the sector performance in Dubai began to further improve.” The Dubai real estate market displayed an extraordinary performance. Surpassing Dh 184 billion in total sales by the end of Q3 2022, according to Ibrahim.

With total sales exceeding Dh 24 billion, August had the best performance, according to the chart figures. With the optimistic expectation to hit DH 260+ billion. The market expected to be in the spotlight once more in Q4. Ibrahim makes an estimation.

According to a Bloomberg report, Dubai has built a new hotel on Palm Jumeirah specifically for World Cup visitors who plan to stay in Dubai. Travel to Doha to watch the championship games, and then return to Palm Jumeirah to spend the night. As a result, Dubai is well-prepared to capitalize on this opportunity.

Flydubai and Qatar Airways Have a Partnership

Last May, Qatar Airways made the following official announcement. The Qatari flag carrier has collaborated with flydubai to provide match ticket holders with matchday shuttle flights to Doha during the tournament. Flydubai will run up to 60 flights daily from Dubai, the region’s tourism hub. Carrying up to 2,500 passengers, according to representatives of Qatar Airways.

The CEO asserts that working together with other Gulf carriers to offer shuttle flights on matchdays between Doha and important regional cities is a significant move that should help the nation’s lodging lack during the FIFA World Cup 2022.

Ibrahim acknowledges “Dubai is a tourist attraction that is already enormously well-liked throughout the world. It seems that the emirate will be best positioned to benefit from this tournament.” During the tournament, Doha expected to receive over 90 flights per day, of which about 60 will leave from the UAE.

Tourism

The most recent data from Dubai’s Department of Economy and Tourism (DET) shows that between January and June of 2022, Dubai welcomed 7.12 million foreign tourists. An increase of more than 183% over the 2.52 million visitors who visited Dubai during the same time in 2021. The city is now on track to meet its tourism objectives for 2022. In addition, beyond thanks to this encouraging trend in the first half of 2022. Which also strengthens its position as a top international travel destination.

The busiest airport in terms of passenger traffic, Dubai International Airport (DXB), handled more than 27.9 million passengers in the first half of this year. Representing an increase of nearly 162% year over year and only 1.2 million fewer passengers than the airport’s total annual traffic in 2016.

Join The Discussion

Compare listings

Compare