Buoyed by Expo 2020 Dubai Property Market on a Robust Growth PathApril 20, 2022
The Expo 2020 has boosted the homebuyers’ sentiments and the property market in the city is booming like never before.
New Delhi, April 20, 2022: The Expo 2020 which concluded after six months of incredible shows and the participations from across the globe, turned out to be a significant event for Dubai Property Market. Among other things, the Expo 2020 offered the property seekers/NRIs one-of-a-kind opportunity to witness the unparalleled lifestyle that the city offers.
The huge expo witnessed more than 17 million visitors, stimulating the growth of the economy with hotels registering 100 per cent occupancy. Concurrently, Dubai witnessed massive influx of visitors and investors expressing interest in coming and opening their business in the city, or to purchase their choicest property in the city.
The property prices over the past six months have already gone up by 30-35 per cent. Still, the property in Dubai is cheaper compared to many other major international hubs such as Hong Kong and London. While villa prices have gone up, and will continue to do so in the coming months, apartment prices are still low and make for an attractive investment. Both the luxury as well as affordable property market in Dubai has witnessed significant growth due to heavy demand and consumption in the US and Europe.
Mr. Rizwan Sajan, Founder and Chairman of Danube Group said, “We are glad that the Expo 2020 has generated response as per our expectations and the Dubai property market is witnessing huge influx of property buyers. The way the government authorities have controlled COVID pandemic in the UAE is truly praiseworthy. Due to their carefully structured approach and the vaccination drive, Dubai has continued to be the safest place on the earth to live and do business.”
“While the people have been very confidently moving around in the expo, the property market in the city has received big boost on the back of positive response of the buyers,” added Mr. Sajan. He said the policies that the government has come up with, such as the Golden Visa and the 100 per cent ownership rights to expats have also helped build confidence in investors interested in setting up their businesses in the city.
Coupled with the positive response of the Expo 2020, the residents who have been putting their decisions at bay to move out of their rented homes to their own homes are finally taking the plunge to buy their desired units. Due to the rush of end-users to become a property owner in Dubai and the availability of the properties at right price in the UAE, the transactions in secondary market as well have seen over 90 per cent annual rise. While prices in the luxury property market in Dubai have already started moving north, the affordable property segment will also follow suit soon.
Further, the UAE’s potential for foreign direct investment is another attractive factor. Already rated as the most attractive destination for FDI within the MENA region, the UAE aims to attract 150 dollars’ worth of FDI from its key partners, and open up its markets to many other countries.
Having one of the strongest infrastructures to increase FDI, Dubai has further improved the market conditions for local SMEs within the Emirate. Now Emirati SMEs can enjoy a seven-year exemption from their trade licensing fees, which is big help to small enterprises to survive and recover from the global pandemic.
About Danube Group
Established in the year 1993, Danube Group was founded and cultivated under the leadership of Rizwan Sajan, who is the known to be the Founder and Chairman of the Group. Starting off as a small trading firm, the company is moving from strength-to- strength, expanding its foothold in the region, and has established itself as the No. 1 building materials company along with other branches under its vast umbrella. In 2019, the company recorded a turnover of USD 1.3 billion and has been growing ever since. Moreover, Rizwan Sajan was ranked 12th among the ‘Top 100 Indian leaders in the UAE’ List by Forbes Middle East. As one of the largest suppliers in the region, Danube Group’s operations are dominated by two main segments – Building Materials FZCO and Danube Home (Home Interior/ Décor Solutions), which brings together a variety of state-of-the-art products available at showrooms strewn across the MENA region.
For more details, visit: https://www.aldanube.com/