The return on real estate investment in Dubai stood at 71%, signaling continued healthy investment activity, to the point where Dubai has become a safe environment for attracting more local and global investment, thanks to flexible laws and clear regulations. This has ensured that major projects in Dubai Marina, Palm Jumeirah, and Jumeirah Lakes Towers were not significantly affected by the decline in real estate prices in some areas.
A report published by the Financial Times indicated that data from Dubai’s tourism sector showed a 9 percent increase in the number of visitors to the emirate during the first half of 2015, A recent report by the Dubai Department of Tourism and Commerce Marketing confirmed that the total number of visitors entering Dubai during the first half of this year exceeded 7 million people, which supports the real estate sector and boosts activity in the accommodation sector, and underscores the strength of the infrastructure of the various transportation networks and facilities provided by the Roads and Transport Authority to serve Dubai’s airports.
The Financial Times report highlighted safety and comfort as key factors in attracting visitors to the city. Ziad Al Sha’ar, Managing Director of Damac Properties, said: “All the steps Dubai is taking aim to create a market conducive to future growth, characterized by a more mature and regulated environment. Despite short-term price fluctuations, we continue to see healthy investment flows into the market, and the growth in the tourism sector confirms that Dubai is on the right track.”
Recent reports have confirmed that current conditions in the Dubai market are conducive to sustainable investment, especially as property prices in the emirate have fallen by 25% from their peak levels recorded in 2008.
Ziad Al Sha’ar, Managing Director of Damac Properties, said: ”The increase in the number of visitors to the emirate of Dubai is also a strong indicator of the city’s appeal to people from all over the world, and with visitor numbers rising year after year, Dubai’s real estate sector will continue its growth trajectory with momentum and strength.”
