Experts at the Cityscape Real Estate Summit 2020 said that favourable bank rates and low prices mean that investors are once again looking to the real estate market in UAE.
On Monday morning at the Dubai World Trade Center, many industry experts gather to highlight challenges in the sector, as well as possible solutions that will drive the recovery.
BNC Menon, founder and chairman of the Sobha Group, said that real estate market in UAE can play a major role in emerging and recovering from crises, and the evidence for this is that it began to recover in the summer after buyers took advantage of the opportunity of lower prices. The demand for purchase and leasing increased.
Investors need to be smart and locate specific assets, especially villas in prime locations that are currently in short supply. The market has supported initiatives, such as the introduction of online property transfers from the Dubai Land Department or the economic stimulus package from the Central Bank of the United Arab Emirates, or favourable payment options from developers.
One of the reasons that led to the increase in the demand for real estate in the UAE is the increase in the population, which has led to an increase in investor interest in the infrastructure at the highest level. Health, education and living in Dubai is very sophisticated and is interested in providing the best service.