As you may have heard and observed, there has been significant positive movement in the real estate market in Dubai since 2017 kicked off. We have been watching the transaction register at the Dubai Land Department (DLD) and have seen it close at a range between AED400M to AED1.4B (USD $109M-381M)! This truly signals the movement towards building the next phase of this ever-growing city, the new Dubai (Dubai South), and the road to Expo 2020 and beyond. I have spoken to a close contact who works as part of the 2020 team and he emphasized their focus on sustainability in their projects beyond 2020, and also a promising focus on the importance of legacy-oriented development. Meaning, once the 2020 expo is over, life will continue to fill out in the areas and beyond (Unlike many expos in the past where what’s left is shadows and memories past the events). This is also backed by the fact that the new Al Maktoum airport that’s aimed to be the biggest in the world. This is truly the time when we witness a new city being born.
In the first 45 days alone in 2017, the total real estate transactions registered at the Dubai Land Department netted AED45B $12.2B (half of last year’s total investors’ spend in Dubai real estate). This makes it an average of 1 billion a day!. Most of these transactions have been off-plan (buying property currently under construction or to be constructed), and we have seen some of the giants in the development market releasing new projects almost every other week and selling out in hours!
Contact Harcourts Real Estate today to discuss how you could best capitalize on this strong property movement, and we will be more than happy to assist you find the right property investment.