7 factors assert recovery in the UAE real estate sector in 2022
*Walid Al Zarooni: Positive results of exceptional performance will be the norm this year
Dubai, UAE, Thursday, February 12th ,2022: Real estate expert Walid Al Zarooni, Chairman of “W Capital” real estate brokerage, expected the UAE real estate sector to preserve investment momentum and strong sales during 2022, thanks to several key factors.
“2021 was exceptional for the real estate sector in most emirates, led by the Emirate of Dubai, which recorded the highest value of sales ever, with a total value of Dhs300bn resulted from 84,196 transactions,” Al Zarooni said.
“Real estate sales topped Dhs151.07bn, the highest in 12 years, while the total number of real estate sales was also the highest since 2013, reaching Dhs61,241transactions,” he added.
The chairman expected the real estate sector indices to show positive performance this year as the UAE achieved great success in all fields since 1971, and will sustain their excellence during the next fifty years, aiming to become the best global economy and the best place to live.
Al Zarooni identified 7 strategic factors that lead the real estate sector’s performance to be robust and rewarding in terms of prices and strong investment demand during 2022.
1- The UAE economy growth
Al Zarooni stated that the recovery of the UAE economy is the main driver of the real estate sector expansion and its breakthroughs in all aspects, whether the sales or attracting foreign investors, developers, and improving the brokers’ performance.
He said that the Institute of International Finance (IFF) estimated the growth of the UAE economy by 4.9% in 2022, compared to 4.6%, and 4.2%, the estimates of the World Bank and the UAE Central Bank respectively. Most of the growth rate will be driven by the non-oil sectors, including the real estate, tourism and banking.
2- Residency facilities
The head of the “W Capital” real estate brokerage expected the UAE will reap the benefits of the residency facilities granted to investors, foreign business owners or talents and skillful workers. “This year may witness good response to the new measures amid a massive influx of talent and investors while overcoming the risks of the “Covid-19″ pandemic, thanks to the government’s prompt response that helped overcoming health and economic repercussions,” he said.
3- An attractive investment environment
Al Zarooni stressed that the UAE is among the best markets for investment and business growth all over the world, thanks to continuous development of legislations and rules governing the relationship between all the parties in the economic system ,and ensuring rights and duties.
4- Security and political stability
Al Zarooni believes that security and political stability are an added value to the real estate sector in the United Arab Emirates, compared to other global real estate markets.
He stated that the security and stability is one of the investors’ priorities that enforce the confidence of investors and businessmen.
5-Good return on Investments
Al Zarooni stated that achieving a good return and preserving value is the most important goal for investors, and there is no doubt that the UAE real estate investment offers the best return in the region and among the best in the world, at a rate ranging between 6-9%.Added to that is the fact that real estate sector of the Emirates of Dubai and Abu Dhabi in particular, is a safe haven for saving the value of investments .
6- Dubai Urban Plan
Year 2022 is the first year to start implementing the founding projects of the Dubai Urban Plan 2040, which aims to achieve sustainable urban development with a human focus, with a goal of improving the quality of life and enhancing the global competitiveness of the emirate. This highlights the future of investments in Dubai real estate sector and attracts new players.
7- Dubai Expo2020 success
Al Zarooni believes that the UAE will benefit from the excellent results of the Dubai Expo 2020 , which will continue until the end of the first quarter of 2022. The international event has put Dubai at the forefront of the global scene in terms of tourism, population growth, and investment inflows. That will be of tremendous benefits to the real estate sector. The event contributed to increasing the demand for residency, attracting individual investors and businessmen to buy homes in Dubai. This positive momentum will continue to drive Dubai’s economy for many years.
About “W Capital”:
“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.
Since its inception, the company has sold over AED 200 million of properties to major developers.
About Walid Al Zarooni:
Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.
Al Zarooni is one of the first experts to harness social media to raise the public awareness about real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as ” Instagram “,“ Snapchat ” and “Twitter”, on which he is very active.