The real estate field is witnessing a boom and drop at the same time in Dubai. The various sectors such as residential areas, office buildings, market spaces, etc. differ in the impacts expected this year. Most of the positive shift in the field arises on the background of the coming Expo 2020. Investing in hospitality and residential buildings are gaining momentum fore-sighting the global event. The Dubai tourism is expected to triple with the event and has contributed most to the boom in real estate market.
The greatest advantage in the present situation goes to the hospitality and hotel investments. As a huge number of people from around the globe will be visiting, these can make gains providing the accommodation facilities for the guest and visitors. The infrastructure development is taking place at a fast pace to attract as much as possible to view the majestic and aesthetically pleasing buildings and structures. The global Expo stands a backbone to raise the country’s economy tremendously.
The slowdown in the real estate field began in 2014 and is soon expected to transform into a vigorous growth with the upcoming event. The global economy still has traces of the slowdown left but the Expo 2020 can take Dubai out of the pit with the huge governmental and private investment taking place. The Dubai water canal project, Museum of the future, Jewel of the Creek, MBR city, Aladdin City, etc. are a few prominent exciting projects under construction.
Discussing on the residential front, the rents have decreased even in JLT and marina making it possible for the middle-class to get spaces in these areas. The property prices also are not much high, widening the prospects of safe investment. That is why the field is showcased as having both boom and drop alongside. On one hand, the rents are less due to recent global anxieties and on the other hand, this can help to buy properties to rent out during the gala event. These mixed reactions are taking Dubai’s economy to another level with a number of opportunities for the ones in real estate field.
The office buildings are the ones still lying in uncertainty. With the global refugee crisis and related economic barricades different countries face today, the international companies have halted the proceedings and are waiting to relay on some stable situations. This has caused fall in rents of office building spaces in Dubai, which itself is a financial hub of the world. But in that case also, some far-sighted firms are getting their business established in the secondary areas of the city, where rents are much lower and thus gains in reducing the investment required.
Altogether, Dubai has got the boon and bane at the same time and the real estate field is hoping to make the best margin even from the present situation.