Dubai real estate to see ‘big boom’ once Expo 2020 starts

Posted June 7, 2021 by maqeelk84

Favourable interest and mortgage rates, a highly effective Covid-19 vaccination drive, and new visa rules for investors, will result in Dubai’s property sector witnessing a “big boom”,

Speaking in an exclusive interview with Khaleej Times on the sidelines of the INDEX Dubai 2021 exhibition, Sajan remarked that Dubai would continue to be a city that enjoyed the confidence of global investors. The emirate had proven itself to be resilient in the face of several challenges that have gripped the global economy time and time again, he said.
“Expo 2020 is going to bring a big boom for Dubai,” he stated. “If you look at what has happened over the past two to three months, you will see that real estate prices have gone up again. This means that developers will be eager to start constructing new apartments and villas. We are blessed, especially when you look at all the policies that the government has been coming up with, such as the Golden Visa and the 100 per cent ownership laws, to make expats feel like they are at home. All of these policies will definitely help to build confidence in investors that are interested in setting up their businesses here.”
“In addition, the way that the Covid-19 crisis has been handled here will also send a strong message to the world that Dubai is ready for business,” Sajan observed. “We are already seeing a lot of investors from India expressing an interest in coming and opening their businesses in the city. Not just that, but a lot of European and Chinese expats are looking to purchase property in Dubai.”
He also reiterated his advice on the best time to invest in property in the emirate. “I can say that we will see a big real estate boom coming in the near future. I keep telling people that the time to buy property, if you are interested in doing so, is now because later you will not get the same prices that you are seeing in the market right now. Interest rates right now are very low just like the property prices and even the mortgage rate is extremely attractive.”
Property prices over the past six months, he revealed, have gone up by 30-35 per cent, further highlighting the positivity in the market. He also said that property in Dubai is still cheaper compared to many other major international hubs such as Hong Kong and London. While villa prices have gone up, and will continue to do so in the coming months, apartment prices are still low and make for an attractive investment.
“The luxury property market has already started recovering, and the affordable property market will follow,” Sajan added. “Many companies that had laid off their employees are looking to rehire their staff so business is getting back to usual. I also believe that the supply of new units will remain balanced in the near-term.”
Asked about how the Covid-19 pandemic had impacted the building materials market, he said that prices have been “going very very high.”
The main reason for this, he revealed, has been the difficulty in arranging logistics and the shortage of material.
“The demand is more due to the consumption in the US and Europe,” Sajan said. “We have seen this trend – where the prices have gone up by more than 50 per cent in the building materials segment – after many years. We are trying our best to get materials because of the huge demand that we are seeing for Expo 2020 Dubai; lots of projects have to be completed before the event opens its doors. However, I believe that there will be no problem in Dubai as far as the construction industry is concerned.”
Shaikhani Group said, this coming year would be the simplest year for the Dubai. it'll be a boom for each industry. Moreover, they're trying their best to extend the productivity of theirs projects so it'll fork over by the top of this year….
Shaikhani Group explained, Dubai is understood by doing things on right time, they come up with those ideas where people think’s it's impossible, while ago Dubai was a desert, now nobody can say this was a desert. People like to visit Dubai for holidays, because all facilities are there including security which may be a basic necessity of life.
Dubai is one the simplest city to measure where everything is out there on the doorstep, this is often why Shaikhani Group invested their money, and that they do have different projects which are successfully in process. Shaikhani group tries to seek out the simplest deals with good luxuries therefore the customer can enjoy all the luxuries at full Shaikhani group already handover few projects in Dubai worth of many dirhams, they always achieve their target on time which shows the positive sign of their progress. Soon they're going to handover gardenia residency which is found in Jumeirah village circle, it's been expected they're going to handover this project by the top of 2021 or even earlier depends on the working conditions and environment
As the pandemic situation is that the worst within the whole world, things are really difficult to mapped out because during this situation we've to be very careful taking extra safety precautions to form sure to not put labour’s life in danger because this work needs tons of manpower and thanks to pandemic we've to take care of the 6-foot gap, so what we've provided our labour high-quality equipment to form sure work doesn't compromise and customers will get their apartments on time quite 1000 units handover within the projects of Cambridge business center, champions tower 1 and Frankfurt sports tower which is worth of 700 million dirham approximately 600 units are to be completed soon within one year in Champions tower 3, Gardenia 1 and a couple of approximately value 300 Million dirham are going to be deliver
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Issued By Muhammad Khan
Country United Arab Emirates
Categories Advertising , Business , Construction
Last Updated June 7, 2021