Dubai’s property and real-estate sector has been on a topsy-turvy ride for a long time now with several highs and lows on the way. With a major decline in the property market yesteryear and earlier this year, most developers and real-estate giants in the country were in low spirits. The declining rent and selling rate was a major setback for most of these development entities and the real-estate market in true meaning of the word was on hibernation. The turn has engulfed all the sectors within it be it residential, commercial, hospitality or leisure and has affected developments across all these sectors in the past.
However, until recently, the property market experienced a big pat on the back. According to statistics, during the period between January to August 2018, Dubai was capable of pulling 9,500 new totally first-time investors towards making investments in the flourishing real-estate sector generating a whopping transactional value of around 19B plus for the market weavers.
The Director General of DLD (Dubai Land Department) feels very positive about the advancement and was recorded saying: “Dubai’s real estate market acquired a sustainable reputation due to a range of initiatives and proactive solutions that have made it the world’s most attractive investment destination,” He added further: “Our smart solutions played a key role in consolidating Dubai’s position as a preferred investment destination that provides a legislation system that protects investors’ rights.”
Thus, this surely seems like the right push for the real-estate market in the region at the moment and we, at dxboffplan.com, are very hopeful that newer developments will have an elevated demand in the future too with more and newer investors spurring to invest in such mega projects.