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Future bright for Dubai real estate sector

Dubai - Almoosa notes that real estate transactions worth over Dh64 billion were recorded in the first quarter of 2015 alone, and that a significant number were initiated by foreign investors.

Dubai's real estate sector is expected to continue the resurgent levels of growth and stability it has been exhibiting throughout this year and post yet another strong performance towards the end of 2015 and beyond.
Salem Almoosa, chairman and general manager of Falconcity of Wonders, attributes the buoyant outlook to several key factors, including Dubai's status as a top commercial and tourism hub, a continuously rising local population, a strong appeal among international investors, and substantial government funding of major infrastructure projects.
Almoosa notes that real estate transactions worth over Dh64 billion were recorded in the first quarter of 2015 alone, and that a significant number were initiated by foreign investors.
He added that the removal of the rental cap and limited supply across prime locations, among others, have been driving growth in residential demand. Moreover, he anticipates additional major investments into the tourism, leisure and hospitality segments - a prediction backed by Dubai's recent ranking as the top growth market for the Mena hotel industry in a global construction pipeline report.
These and other catalysts, he says, will continue to sustain Dubai's dominance of the Middle East's real estate landscape and will be further magnified as Dubai Expo 2020 draws near.
- business@khaleejtimes.com