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UAE real estate market to improve within the next year

UAE - December 27, 2017
UAE real estate market

UAE real estate market will witness a significant improvement in the next year despite the effect of the value-added tax which will be applied in the next month, according to the industry experts.

Hazem Abu Dayak, the sales manager of UAE-based real estate developer Platinum Bay, deduced that although the 50% tax will affect the competency of the UAE real estate market, this effect will be minimal in comparison to the advantages of the real estate sector in the UAE. He explained that the real estate prices will improve within the next year as the major Expo 2020 event is drawing closer, in addition to multiple other factors like the improved laws to protect the investors and the ongoing competition between the real estate developers.

For the value-added tax negative effect to be minimal, however, it must be accompanied with new additional incentives and facilities for the real estate investors to encourage them to be a part of the strong UAE real estate market, Abu Dayak added.

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