Monday, January 27, 2014

Market surveys showed that real estate sector of UAE had been showing great signs of recovery after increased foreign investments. Especially the two leading emirates Dubai and Abu Dhabi had played a great role in rebounding of property market. Record transactions had been observed in small duration of time during year 2013. A market survey conducted by Royal Institution of Chartered Surveyors (RICS) in 2013 listed UAE commercial property market on first position on Occupier Sentiment Index (OSI) whereas on second position on its Investment Sentiment Index (ISI).

Win of EXPO 2020 and City Momentum Index

After successful bid to host EXPO2020, city momentum index by Jones Lang LaSalle (JLL) listed Dubai on third position among 20 world’s dynamic cities. City Momentum Index (CMI) is the criteria which have been considered to rank cities. Occupying leading position in CMI’s list means Dubai possess strong short term socio-economic and commercial real estate momentum. After becoming the primary standard for calculating CMI, commercial real estate sector is not only considered as the outcome of city’s success rather it becomes driving factor, which has the ability to drive city towards success. 

Having considered the connectivity with other countries across the globe and emirate’s status of being the business and trade hub in the region of MENA enabled Dubai to become investment hotspot in Middle East. Moreover, the win of EXPO 2020 bid has greatly enhanced the confidence of city while improving city’s momentum towards success.  

Real Estate Transactions in year 2013

Dubai Land Department DLD has issued a report in the mid of January 2014 about total real estate transaction in Dubai for year 2013.  According to this report the total amount of land or property, sold or mortgaged has greatly increased from Dh 154 billion in 2012 to Dh236 billion in year 2013.  In terms of percentage the total rise in property transactions is 52%. Specifically for pieces of land total transactions have increased to 50 percent from Dh111bn in 2012 to Dh166bn 2013.  Secondly the total percentage transactions for complete apartments and villas have been raised to 52% with total amount of Dh62bn.

After considering this gigantic rise in property transactions in Dubai real estate sector, Knight Frank issued a report about Dubai property market and clearly mentioned that Dubai real estate is expected to be top performer on international level in year 2014 with asset price rise of 10 to 15 percent. Furthermore, DLD director General Sultan Butti bin Mejren has also estimated the percentage rise is asset prices of 35 to 40 per cent for year 2014.

Dubai has successfully gained the status of global gateway and trading hub on international levels. Being the magnet for foreign investors, Dubai business sector clustered top investors across the world. With progressing economy the emirate is capable to offer high class business and financial services for entrepreneurs. The positive market trends improve investor's confidence and they consider making investments in business and real estate sector in Dubai.

Angela Davis:

Angela Davis is a passionate and an experienced writer and social media consultant. She always try to produce unique and stimulating content for their valuable readers.

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