Record breaking year so far for Dubai property points to health of market sector, says real estate firm boss.
The Dubai real estate market has entered a new era of strong and sustainable growth, which is the best in history, according to W Capital.
The real estate company said the sector is experiencing record levels of property sales in terms of volume and value.
Following a seven-month period with more than $60bn in sales the property market is more robust than ever, said the W Capital boss.
Walid Al Zarooni, CEO of W Capital, said: “The real estate market in Dubai continues to achieve outstanding historical performance and sustainable growth, with record numbers month after month in line with expanding investors’ choices and options to invest in the real estate market.
“That coincides with increasing transparency all over this vital sector in a way that contributes to strengthening the emirate’s global position as one of the most important destinations for real estate investment”.
Al Zarooni pointed out that the market sales exceeded AED217bn ($60bn) in the first seven months of the year, which is the largest historical value for this period.
Published on: 24 Aug, 2023
Source: https://www.arabianbusiness.com/industries/real-estate/dubai-real-estate-enters-new-era-after-record-60bn-sales