Friday 19 July 2024

Dubai nets $5.2bn real estate investments in 8 months

DUBAI, October 1, 2018

Dubai’s real estate market has been consistently sustainable, attracting nearly 9,500 new investors who made a total investment of more than Dh19 billion ($5.17 billion) during the period from January 1 to August 31, 2018, said a top official of Dubai Land Department (DLD).

DLD is the strategic partner of the 17th edition of Cityscape Global, taking place from October 2 to 4. Through its delegates, the department will welcome visitors and investors to answer their queries, helping them make investment decisions and take advantage of the attractive offers that developers will be offering during the event.

"Dubai’s real estate market acquired a sustainable reputation due to a range of innovative initiatives and proactive solutions that have made it the world's most attractive investment destination, with the most advanced solutions, applications, and smart services that ensures the ability of customers to conclude transactions easily, transparently, safely, remotely and at any time," remarked Sultan Butti bin Mejren, the director-general of DLD.

As Cityscape is the world-renowned largest event for real estate investment and development in emerging markets, DLD will showcase Dubai’s smart and sustainable features that place it at the forefront of global real estate markets, said Bin Mejren.

"For years we strived to position our real estate market as the preferred choice, in pursuance of the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai," he stated.

"Our smart solutions played a key role in consolidating Dubai’s position as a preferred investment destination that provides a legislative system that protects investors’ rights, as well as great privileges in recognition of their trust in our real estate market, and for choosing the Emirate as a safe haven for their long-term investments in the real estate market," he said.

"The influx of new investors was evidence of their eagerness to benefit from the opportunities and return on investments guaranteed by Dubai’s attractive real estate market," he added.

Bin Mejren stressed that the economic sectors in the emirate, especially the real estate, were in line with the UAE’s strategy for the future.

"DLD considers this strategy to be a main principle in achieving Dubai’s development aspirations in the near future. This is in line with Smart Dubai’s objectives for sustainable growth, consistent achievements and development, and for meeting the global competitiveness challenge," he stated.

The coming years will witness new waves of investors whose interests will be focused on the stability of the real estate market, which provides them with satisfaction and trust, allowing them to achieve sustainable returns on investment, he added.-TradeArabia News Service

Tags: Dubai | Cityscape | DLD | real estate investments |

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