Economist Dr. Abdulrahim bin Ahmed Al-Farhan predicted that Dubai would achieve its ambitious targets in the real estate sector, reaching property sales of one trillion dirhams by 2033. This goal is part of a strategy to increase Dubai real estate sector transactions by 70%. Al-Farhan emphasized that this target is supported by several key factors, including Dubai’s advanced infrastructure and massive projects like Expo 2020, which have solidified its position on the global real estate map.
He noted that Dubai offers a diverse range of real estate options that cater to various preferences, making it a key attraction for investors worldwide. Additionally, Dubai’s strong regulatory framework enhances investor confidence, supporting the sector’s growth. Al-Farhan also highlighted that Dubai is progressing steadily towards its clean energy goals for 2050, which further promotes sustainability and attracts investments in real estate.
Al-Farhan explained that growing demand from local and international investors is driving the growth of the Dubai real estate sector. He stressed that Dubai’s consistent economic stability makes it an ideal destination for real estate investment. He added, “We observe that Dubai real estate sector continues to experience sustained demand globally, due to the stability the emirate enjoys across all sectors.”
He also pointed out that major projects and urban developments, both residential and commercial, play a significant role in boosting the real estate sector’s growth. “Large-scale projects, such as new real estate development zones and massive initiatives in the emirate, significantly enhance the attractiveness of the market, driving higher investment volumes,” he added.
Al-Farhan emphasized that Dubai consistently adopts the latest technologies in constructing and designing its real estate projects, making it a prime destination for investors and buyers. He noted that innovative building solutions and advanced technologies in project designs position Dubai’s properties as some of the most prominent in the global real estate market.
Lastly, he highlighted the role of incentivizing legislation in supporting the sector. Dubai has introduced laws and regulations, such as foreign ownership laws and long-term visas for investors, to encourage real estate investment. These measures have increased demand and market flexibility. Al-Farhan also pointed out that continued government incentives and a favorable investment environment will be key factors in achieving these ambitious targets, ensuring the sustained growth of Dubai’s real estate sector.
