What does 2016 hold for Dubai property?
For one, Dubai property is likely to continue to exhibit resurgent levels of stability and growth given its rising status as a top commercial and tourism hub. The maturing nature of the market in Dubai is strong, and appeals to international investors. Government funding of major infrastructure projects are on time for the World Expo in 2020.
The huge appeal of the Dubai property investment can be seen in the fact that over 150 nationalities invested in Dubai property last year. Moreover, Dubai’s rental yields average around 7 percent – very attractive when compared with cities such as Hong Kong which offer yields at around 2 to 3 percent. While destinations such as London and New York are popular markets, Dubai has captured the attention of the world as it provides secure and viable property investment opportunities for foreign investors seeking long-term wealth preservation and attractive returns.
Dubai to host the 69th World Real Estate Congress in 2018
After the Expo 2020 bid, Dubai has won the bid to host the 69th World Real Estate Congress in 2018. Organised by the International Real Estate Federation (FIABCI), the event is anticipated to attract over 1,000 real estate professionals from over 60 countries to explore the theme ‘Future of Cities’. Additionally, it will provide a global platform for sharing best industry practices and get delegates and FIABCI members from myriad industry sectors to address evolving issues and trends underlying the Dubai property market. This is yet another huge feather on Dubai’s cap as it marks the city’s capability to host an influential world congress and its strong international reputation as a destination for world events.
As the first Middle East country to host the World Real Estate Congress, Dubai has yet again proved its boldness and strength as a dynamic real estate market, a pre-eminent real estate hub for the Middle East and a top global investment haven. Experts say that the World Real Estate Congress 2018 will strengthen Dubai’s economy through attracting visitors and attract inward property investment into the emirate from across the world. Furthermore, winning this bid will bolster Dubai Plan 2021, which aims to make Dubai a smart and sustainable city with strong infrastructure and ensure the emirate’s future growth.
Moreover, with Expo 2020 just round the corner, Dubai will welcome 25 million additional visitors for the six-month mega event. As the prep for Expo 2020 picks up, a significant rise in demand for residential and commercial Dubai property, is anticipated by investors worldwide.