The Dubai real estate is expected to continue its golden run post-Expo 2020 as foreign investors are returning to the market to capitalise on investment opportunities in the emirate.
The market, which attracted a total of 52,415 investors last year, recorded 72,207 new deals with a combined worth of Dh148 billion investment in various projects of the emirate. It reflects a 100 per cent growth in investment value while the number of investors and investments surged 65.6 per cent and 73.7 per cent, respectively.
Out of the total investors in 2021, 38,318 or more than 50 per cent, were overseas investors, who made 51,544 investments valuing Dh99 billion.
According to the Zoom Property Insights, this upward momentum will sustain throughout the year, even after Expo 2020 drops its curtains on March 31,2022.
The emirate is gearing up for International Property Show (IPS) 2022, which is another event that will help bring foreign investment. Starting from March 24, it will welcome investors from Spain, Serbia and Montenegro, Austria, USA, Ecuador, Canada, and Mexico.
Ata Shobeiry, CEO at Zoom Property, cites the infrastructure, facilities, and visa reforms as the major reasons supporting the return of investors to the Dubai property market.
“Dubai’s excellent infrastructure, long-term visa options for overseas investors, and world-class facilities are some of the major reasons that attract overseas investors. Expo 2020 also played its role but going by the latest trends, I believe there will be increased activity in the market resulting from the return of foreign investors after Expo has concluded,” he said.
Apart from the return of overseas investors, the transition of Expo 2020 into District 2020 is also expected to drive the Dubai property market in 2022. It is planned to be a mixed-use community, which will utilise 80 per cent of Expo’s resources.
As the Expo concludes in a few days, District 2020 will continue its legacy as a sustainable and human-centric future city. It will feature expansive business and retail spaces along with modern co-living, loft or urban-style residential units. The handover is expected to take place in October 2022.
“The sustainability, economic prosperity, diversity in the market, and high returns are some of the other main reasons that make investors come back to Dubai real estate,” Shobeiry said.
Key reasons to be bullish
> Dubai real estate is expected to maintain its upwards trajectory in 2022 due to the influx of foreign investors
> More than 50 per cent of investors in 2021 belonged to foreign countries
> International Property Show 2022 starting from 24th March to attract more foreign investment
> The transition of Expo 2020 into District 2020 after the former’s conclusion is expected to be another factor that will drive the property market this year