Dhs230bn Dubai real estate expected sales by the end of 2022

After breaking records in H1

Dhs230bn Dubai real estate expected sales by the end of 2022

– 6 main factors boost the Dubai real estate sector recovery in H2

-The real estate market best ever performance is surpassing global counterparts

Walid Al Zarooni

Dubai, United Arab Emirates

 Sunday, July 17th 2022

Real estate expert Walid Al Zarooni, Chairman of the Dubai-based real estate brokerage “W Capital”, expected the Dubai real estate market would record unprecedented sales exceeding Dhs230bn by the end of 2022, to be the highest ever after topping Dhs200bn for the first time, compared to Dhs150bn last year.

Al Zarooni said that the continuation of the exceptional performance is expected during the second half of this year thanks to the best H1 sales results ever, exceeding Dhs114.2bn.

He explained that real estate sales in Dubai continue to break records ,month after month, not limited to the first half of July sales reaching more than Dhs11bn, equivalent to the total sales for the same month last year, and to two and a half times the sales of July from 2020 .This is  clear indication of the continuation of record sales in the sector during the remainder of the current year.

The Chairman stressed that the real estate activity will be driven by 6 main supportive factors that will enable the market to break new records in all types of real estate transactions.

First, strong economic 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 volume of sales or attracting foreign investors, benefiting developers and improving the performance of real estate brokers.

He pointed out that this growth is achieved despite the expectations of a global economic recession for the major advanced economies and the majority of emerging markets, but the resilience of the UAE in general and Dubai in particular, is sure thanks to the growth of the oil and non-oil sectors, which is positively reflected on real estate sales.

Second, security and political stability

Al Zarooni said that the real estate sector is also recovering thanks to political stability and high levels of security and safety, which represents a real added value to the real estate sector in Dubai and the UAE as a whole, compared to other  global real estate markets  that lack security ,stability or economic growth. These factors are at the forefront of investors’ priorities boosting the capitalists’ confidence of various nationalities.

 Third , the ” Dubai Expo 2020″ gains

Al Zarooni indicated that Dubai is still reaping the fruits of organizing the Dubai Expo 2020, which lasted for 6 months ending late March. The event contribute well to the increase in demand for residency, and to attract investors and real estate owners being individuals or commercial companies.

He explained that the government’s awareness was guided to preserve the gains of organizing the World Exhibition by launching the Expo City in the same place that hosted the exhibition’s activities, which will be a city for the future.

Forth, good returns

Al Zarooni said that achieving good return and preserving value is the most important goal for investors, and there is no doubt that real estate investment in Dubai offers the best return in the region and is one of the best in the world. With a rate ranging between 6-9%, in addition to the fact that the real estate of the Emirates of Dubai and Abu Dhabi in particular is a safe haven to save value, chances are becoming more attractive.

The Chairman said that all asset classes are suffering from the risks of economic recession around the world, while safe havens for value, including real estate, may be active, even if they are affected somewhat by waves of interest rate hikes.

Fifth, accommodation facilities

Al Zarooni revealed that Dubai has begun to reap the benefits of the residency visas facilities and residency grants approved by the UAE over the past two years, which created a strong demand for buying and acquiring a property in Dubai, noting that there is a huge influx of talents and investors from all over the world to settle and work in Dubai.

 Sixth, world class infrastructure

Walid Al Zarooni believes that the advanced infrastructure is one of the most important requirements that the investor takes into account before choosing an investment haven.” No doubt, Dubai provides the best services and adopt the best technologies to constantly improve the living experience, which of course, enhances the real estate demand,” he said.

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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.

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