Real Estate: Security and safety contribute to the growing

The high demand for real estate in Dubai continues to surpass forecasts.

Due to its high rates of return on investment and safe and secure environment, Dubai has emerged as the global center for real estate in recent years.

This is because of the rising geopolitical tensions around the world and the general “uncertainty” surrounding the global economy, according to a leading brokerage.

The Dubai real estate market has maintained its growing momentum and record sales over the previous few years, according to a report by W Capital Real Estate Brokerage, despite an exceptionally strong demand that keeps exceeding forecasts.

The survey revealed that an increasing number of affluent individuals worldwide are choosing to invest in real estate in the emirate, as seen by the rising sales of luxury real estate.

According to the survey, investors favor Dubai because of its security offerings, whereas significant events and activities are poorly organized in the majority of global capitals due to security collapse.
According to the report, Dubai presents a favorable investment environment due to the abundance of local and international variables that have bolstered the real estate market and attracted several multinational corporations and brands to initiate projects there.

“Since recovering from the COVID-19 pandemic, the Dubai real estate market has taken an upward trajectory that has exceeded all expectations,” stated Walid Al Zerona, CEO of W Capital.
He mentioned that sales in 55 months (January 2020 to July 2024) surpassed Dh1.16 trillion, according to DLD data.

From Dh69.8 billion in 2020 to Dh149 billion in 2021, Dh265.5 billion in 2022, Dh401 billion last year, and Dh283 billion in the first seven months of 2024, sales increased dramatically.

Al Zerona emphasized that the record and subsequent growth show the high level of maturity reached by the Dubai real estate market, which is attributable to all contributing factors.

These include the emirate’s security and safety, as well as the quick recovery from the pandemic’s effects and the recovery of the tourism and economic sectors.
According to Al Zerona, W Capital’s prior study found that there was a high demand for Dubai real estate among all nationalities, with the most demand coming from Indians, Chinese, Lebanese, Canadians, French, Italians, Dutch, Pakistanis, and Turks.

Americans, Saudis, Russians, Iranians, and Egyptians were all on the list.
According to the CEO, Dubai’s and the UAE’s overall favorable economic conditions contributed to the real estate sector’s rise.

This was enhanced by initiatives taken by the government to promote commercial ventures, including the issuance of resident permits, the favorable tax structure for starting and expanding new enterprises, and the presence of nearly 200 different nationalities.

Al Zerona noted that, in comparison to Dh217.2 billion during the same period in 2023, real estate sales in Dubai increased by 30.3% between January and July, reaching Dh283.11 billion.

From the start of 2024 to the end of July, 123,250 transactions totaling Dh415.55 billion were made in the Dubai real estate market.

The industry also saw its best-ever monthly sales performance in July, with Dh50.78 billion, a 35% increase over the roughly Dh37.6 billion achieved in July 2023.