The Dubai property market is set for a year of stability.
The Chairman of Emaar Properties believes there is demand from both end-users and long-term investors.
Investors are assured of Dubai’s potential for long-term growth due to World Expo 2020.
Throughout 2014 the Dubai property market stood apart for its ability to deliver high levels of capital growth in a short space of time – offering 10% more than other high performing markets.
This rise led to fears of a property bubble and the emirate’s authorities took steps to bring long-term stability to the market, changing mortgage ruler and introducing further broker regulations.
Now, as we head into 2015, the Chairman of Emaar Properties, one of the biggest developers in Dubai, has said that the market will continue to mature over the next 12 months.
Writing a column in Arabian Business, Mohamed Alabbar stated Dubai property now has real and growing demand from both end-users and long-term investors.
He wrote: “The concerted efforts of the Dubai government have helped manage the supply pipeline, and at the current trends of population and tourism growth, demand is set to remain healthy.”
Dubai property is seen as a solid investment ahead of the expected visitor number and economic growth associated with World Expo 2020, while the emirate’s market is also attracting positive sentiment from the Dubai Plan 2021.
Private property investments in Dubai will also benefit from the recent mega projects announced in the region. The Mall of the World is set to become the biggest shopping centre on the planet, while three new theme parks are also expected to increase Dubai’s tourism appeal. To serve this growing demand, a huge expansion of Al Maktoum International is also underway, creating the world’s biggest aviation hub.
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