District 2020, foreign investors will propel Dubai’s real estate market after Expo 2020 – News

Of the total investors in 2021, 38,318, or more than 50%, were foreign investors, who made 51,544 investments worth 99 billion dirhams.

Infrastructure, facilities and visa reforms are some of the major reasons for investors returning to the Dubai property market. — Photo provided

Relative to staff

Published: Tue, March 22, 2022, 2:45 PM

Dubai property is set to continue its golden run after Expo 2020 as foreign investors return to the market to capitalize on investment opportunities in the emirate.

The market, which attracted a total of 52,415 investors last year, recorded 72,207 new transactions with a combined value of 148 billion dirhams of investment in various projects in the emirate. This reflects a 100% growth in the value of investments, while the number of investors and investments jumped 65.6% and 73.7%, respectively.

Of the total investors in 2021, 38,318, or more than 50%, were foreign investors, who made 51,544 investments worth 99 billion dirhams.

According to Zoom Property Insights, this upward momentum will continue throughout the year, even after Expo 2020 drops its curtains on March 31, 2022.

The emirate is gearing up for the International Property Show (IPS) 2022, which is another event that will help attract foreign investment. From March 24, it will welcome investors from Spain, Serbia and Montenegro, Austria, the United States, Ecuador, Canada and Mexico.

Ata Shobeiry, CEO of Zoom propertycites infrastructure, facilities and visa reforms as the main reasons supporting the return of investors to the Dubai property market.

“Dubai’s excellent infrastructure, long-term visa options for foreign investors and world-class facilities are some of the main reasons attracting foreign investors. Expo 2020 has also played its part, but according to the latest trends, I think there will be increased activity in the market resulting from the return of foreign investors after the Expo ends,” he said. .

Apart from the return of foreign investors, the transition from Expo 2020 to District 2020 is also expected to boost Dubai’s property market in 2022. It is expected to be a mixed-use community, which will use 80% Expo resources.

As Expo draws to a close in days, District 2020 will continue its legacy as a sustainable, human-centered future city. It will include expansive retail and commercial spaces as well as modern loft or urban style residential units. Delivery is expected to take place in October 2022.

“Sustainability, economic prosperity, market diversity and high returns are some of the main reasons that keep Dubai property investors coming back,” Shobeiry said.

Main reasons to be optimistic

> Real estate in Dubai is expected to maintain its upward trajectory in 2022 due to the influx of foreign investors

> More than 50% of investors in 2021 belonged to foreign countries

> International Real Estate Fair 2022 from March 24 to attract more foreign investment

> The Expo 2020 transition in the 2020 district after the conclusion of the first should be another factor that will stimulate the real estate market this year