There Are Currently 350 Real Estate Projects Being Constructed In The Emirate, Luring Millionaires And High-Net-Worth Individuals To Invest In One Of The Emirate’s Expanding Economic Sectors.
According to experts, Dubai real estate will play a significant role in achieving the objectives of the Dubai Economic Agenda D33. In addition, will draw billionaires and high-net-worth individuals for investment in one of the emirate’s expanding economic sectors.
350 projects are now under construction in the emirate, and it is anticipated that the real estate sector. Which saw 122,658 transactions worth Dh528 billion in 2022, will speed up development.
The construction of real estate in Dubai planned to satisfy the market’s expanding needs and wide range of preferences. The sector is expected to experience more growth in the future. Because of tight collaboration between public and private players, as per statement released by the Dubai Media Office on Wednesday. 55 real estate projects totaling Dh11.9 billion were finished last year, a 57 percent increase in both quantity and price.
New Chances of Growth
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai, stated last week that Dubai remains one of the world’s most attractive investment features of this project to its stable economy. Strong financial underpinnings and capacity to consistently uncover new chances for growth.
Sheikh Hamdan claimed that due to Dubai’s expanding reputation as one of the best metropolises in which to live and work. As well as its exceptional infrastructure and supportive regulations. International investors, institutions, and businesses continue to have high confidence in the city’s economy.
Due to its expanding reputation as one of the best metropolitan areas to live and work in, it’s exceptional infrastructure. Supportive regulations and the rising confidence of international investors. Dubai continues to be one of the most alluring locations in the world. For investment in real estate in terms of the quality, sustained growth, and return on investment.
According to Ata Shobeiry, CEO of Zoom Property, some of the key elements that will propel the real estate industry in 2023. Moreover, beyond include updated immigration regulations, investor-friendly legislation, and the stability Dubai gives to investors.
“Dubai’s property market is in a solid position to meet the difficulties posed by the global recession. After a strong performance and record-breaking year. Accordingly, I think the market will continue to be steady and draw HNWIs and foreign investors,” Shobeiry added.
DLD Is Essential
By offering seamless services, enacting helpful regulations, fostering a digital ecosystem, combining various sources of data via partnerships. Moreover, improving the skills of its human resources to uphold the highest standards of service excellence. The Dubai Land Department (DLD) has worked to improve the real estate investment environment.
“In 2022, there were 140 registered real estate developers in the DLD database, compared to 12,989 registered real estate brokers. According to the statement, 5,703 new brokers who were registered in the emirate overall in 2022. Contributed to 24,824 processes worth Dh5.33 billion.
There were 1,391 registered real estate brokerage firms, and 78 real estate appraisers. Including 12 new ones—were registered with the DLD. While there are 2,704 real estate offices, there are 42 registered real estate valuation offices, including two new offices.
Dubai has become one of the top locations in the world for real estate investments. The sector’s ability to maintain sustainable high growth and the extraordinary governance. It has upheld while following the leadership’s instructions are also demonstrated by the record outcomes.