Dubai is all set to break all previous records in terms of the total value of transactions in a year. What are the major reasons for this exceptional growth, according to you?
This year the phenomenon, that is the property market, is driven predominantly by one thing and that is population growth. Dubai has always benefited from geopolitical situations, especially those close to the region and this year has seen an abundance of buyers from Russia and Ukraine that have swelled the number of buyers looking to ensure their investments are safe. Many of these individuals were not just investors, but end users too and as a result, they have snapped up a huge amount of real estate inventory this year.
The year 2022 was great, and 2023 so far has been nothing but magical. What’s your prediction for 2024? How will the Dubai real estate market fare?
My prediction for 2024 will be that it too will prove to be a positive year for real estate, albeit at a much slower pace than 2023. I believe there could be many buyers migrating from Europe to the UAE, which will continue to swell the population numbers in a positive way.
What are the next steps your company is planning to take in 2024 to propel growth?
AX capital has a very innovative and technological mindset. 2024 will bring future technologies and AI to the real estate sector and AX capital will be leading this to ensure we continue our growth story which started in 2018.
