Dubai’s long-term visa options for overseas investors and world-class facilities are some of the major reasons that attract overseas investors.
Inayat-ur-Rahman, Business Editor
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 (more than 50 per cent) were overseas investors, who made 51,544 investments valuing Dhs99 billion.
According to the Zoom Property Insights, this upward momentum will sustain throughout the year, even after Expo 2020 drops its curtains on 31st March.
The emirate is gearing up for International Property Show (IPS) 2022, which is another event that will help bring foreign investment. Starting from 24th March, 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.
Zoom Property is an emerging property portal in the UAE with a primary focus on Dubai, Abu Dhabi and Sharjah markets. The portal also features international properties in KSA, the UK and other regions on the platform to facilitate buyers and renters. It is also popular among developers, real estate brokerages and property sellers.
Meanwhile, top companies coming from some of the world’s premier investor countries have confirmed their participation at a specialized ‘Global Real Estate Professional’ Program, which is being co-hosted simultaneously by this year’s edition of the International Property Show (IPS 2022), the ultimate sales platform for both local and international real estate markets, running from March 24 to March 26, 2022, at the Dubai International Convention & Exhibition Centre.
The 10-day exclusive program will provide a diverse set of activities for delegates attending IPS 2022.
IPS 2022 has partnered with Invest in Dubai Real Estate for this bespoke program, which brings in some of the world’s top Realtors and Real Estate professionals to meet investors and government officials from more than 170 countries. Investors from Scotland, India, Mongolia, UK and Malaysia have confirmed their participation among other countries. These include Hazem Fayyad, Founder and CEO, Transfromology XR; Sedarth Mall, Realtor Agent, Bhumika Realty; John Hanna, Managing Director, GDP Global Partner and National Leader; Mohit Bhasin, Director for Global Business and Development, KPMG, among other key investors from around the world.
In addition, participants of the program can take advantage of the many offered benefits, including Membership to the Property Network Partnership (PNP). There will also be a series of B2B meetings for the delegation and opportunities to sign MOUs with global organizations and participate in many global press conferences as well.
Nuno Duarte Silva, Director of International Department, Remax Grupo Vantagem, said: “We have long been supporters and participants of IPS. Taking part at IPS affords us the opportunity to promote and showcase our amazing country, Portugal, along with its offered investor programs that provide second citizenship. This is also a key time for us to throw the spotlight on our client’s properties–presenting a wide range of investment opportunities, from luxury properties, palaces, apartments, villas, lands, entire buildings, hotels, and commercial areas, to a wider market. We are excited to be at this year’s show, which is one of the largest real estate fairs in the Middle East,”