According to a prominent Emirati property developer, Dubai's real estate market has hit a "rough landing," but reduced prices may be a favorable moment for investors seeking to purchase. “We had a downturn in the economy, and things were already going down in the real estate market since ,” said Hussain Sajwani, president of Damac Properties. “We were on our way to a gentle landing... then Covid...
Buyers have scooped up prime Dubai homes in recent months, taking advantage of decade-low pricing, easy financing, and an economy that is open for business despite the epidemic. Buyers Are Coming Back Luxury villas, sea-view flats, and second-hand family homes have all seen an increase in sales, reviving a property market that had seen a significant drop in activity during the epidemic and had been in a...
The sixth annual Middle East Real Estate Predictions study by Deloitte analyzes Dubai's real estate market performance in 2020. It predicts changes in the hotel, residential, office, retail, industrial, and logistics sectors in 2021. COVID-19 created considerable disruption throughout all real estate markets in 2020, with owners & occupiers being forced to make required business changes in response...
According to a Reuters survey of property experts, Dubai home prices will increase for the first time in six years this year, boosted by a rapid vaccination rollout that has raised expectations for general economic revival. Due to overstock and poor economic growth, the city's real estate industry has been struggling for years. However, Dubai lifted Covid-19 restrictions on Monday, allowing hotels in...
The COVID-19 epidemic wreaked havoc on the UAE economy, with preliminary projections indicating a 7.7% drop in GDP in 2020. Despite this setback, the UAE's excellent management of the epidemic and fiscal and monetary stimulus measures have resulted in specific industries recovering. The Purchasing Managers' Index (PMI) for the UAE indicates that business activity stabilized in Q3 and Q4 2020. However,...
In the city, there are many notable hotspots and distinct neighborhoods. We are going to show you some surprising facts about Dubai Real Estate market you might not know. The appealing Jumeirah Beach Residence Imagine waking up to the sight of lush palm trees and the beautiful Jumeirah beach. All of this and more might be found in a villa on The Palm, the world's eighth wonder. A home of 6500 square...
The Burj Khalifa: The record-breaking Burj Khalifa is the tallest skyscraper in the world and stands at a height of 828 meters. It also has 163 storeys and 3,400 rooms - that’s near twice as many floors as there are London’s Big Ben! The building took over 10 years to construct, with construction starting in 2004. The Burj Khalifa is located in Dubai, which happens to be one of the most modern and...
The Rent-to-Own Industry This is one of the most interesting real estate investing concepts that have recently popped up in the market. It refers to a type of lease agreement where you pay rent until you own a property. When you make your last payment on the property, it then becomes yours for good! This sounds like a great way to get into property ownership without having to spend thousands upfront....
The temptation to make quick and easy money has led many people to some of the biggest catastrophes. When someone is offered a quick fix, they are more likely to sell low-quality products with an extremely high commission rate. This means that they end up giving their customers a false sense of security, but ultimately costing them big moola in the long run. This is why you must always be careful when...
When you think about the top careers for people who are trying to land a job in a new country it's easy to think that having a degree or some type of related educational background is the ticket. This is true for most countries and job positions but not so much in Dubai. Here, it's not uncommon to find someone with no degree, no experience, and general frustration in their current work situation who...
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