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?
There are few factors which have started this grown in Dubai.
- Grown in population.
- Security for residents.
- Quality of life for residents.
- Golden Visa.
- Increase in Tourism numbers.
- Stable economic growth.
- Flexibility of Laws for expats as per individual religious belief.
- Dubai becoming the most wanted place for Arab youth (post Expo 2020) to live & work.
- Dubai achieving a global recognition as major hub for all future innovation and connectivity.
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?
2024 will be another success story for Dubai.
- Government has already announced that 2024 GDP will be double from 2023.
- Rents are still increasing due to less ready property availability.
- Dubai is hosting all major events (like Cop 28, Dubai Future Foundation, etc) which helps in enhancing the image of Dubai on world platform.
- Popularity of Dubai is increasing.
- Dubai is strengthening is position as major tourist hub across the world.
- Dubai is focusing on getting out of the grey list of EU.
- Dubai is strengthening their international relations with countries like India & Russia, which will pave the path of another growth year.
- Chinese buyers coming back to Dubai will also help Dubai real estate market, keeping the growth moving toward upward trajectory.
- Corporate tax will allow government to increase their earning and reutilise the income to further strengthen their infrastructure & other development.
What are the next steps your company is planning to take in 2024 to propel growth?
The growth of Dubai enhances our grown and ever evolving vision.
2023 brough in our 1st branch office covering north side of Dubai & we will be opening our 2nd branch office in 2024, making our head count to a minimum of 150 agents by end of 2024. In addition to headcount, our major focus will be in embracing and actively practicing the AI impact in real estate industry. In addition to above we will be strengthening our product line for all our customers by enhancing both property management and handover division. Year 2024 will be a full of growth and extremely exciting year for all of us.