Dubai real estate enters new era after record $60bn sales

The Dubai real estate industry has entered a new phase of robust and sustained development following a record $60 billion in sales.  According to W Capital, this is the best situation in history. Walid Al Zarooni, CEO of W Capital, observed “The real estate market in Dubai continues to achieve outstanding historical performance and sustainable growth, with record numbers month after month in line with expanding investors’ choices and options to invest in the real estate market.

Al Zarooni disclosed that the demand for real estate in Dubai had been extraordinary during the previous two years as a result of the emirate's robust economy and the migration of affluent individuals from across the world. This has occurred as a result of the dire situation of the global economy as well as the recent political and economic events in the Russia-Ukraine conflict. The return on real estate investment in Dubai increased to 9% as a result of this recovery.

In addition to following best practices and laws within the real estate market, which control real estate ownership, off-plan sales, or leases, investors' confidence encourages them to settle down permanently.

Source - Arabian Business