In times where most industries across the world are experiencing a slowdown, the real estate sector in Dubai is seeing a major boom. The demand for buying properties in Dubai has seen a major surge, especially because of the government’s swift response to handling the pandemic as well as the introduction of liberal visa policies that are sure to attract foreign buyers.
Additionally, the emirate’s luxury real estate side is experiencing a major influx from wealthy investors from certain parts of the world. Wealthy Indians looking for second homes, Russians who are seeking to protect their assets, & Asian bankers wanting respite from stringent Covid restrictions are among the diverse nationalities wanting to dip their toes into the real estate boom in Dubai.
Benefits of investing in real estate in Dubai
2022 is being acknowledged as a favorable year for the real estate business in Dubai. A Bloomberg report of the last 12 months has shown that Dubai’s prime real estate prices have gone up 89 per cent. The most popular neighborhoods include areas like Jumeirah Bay, Emirates Hills & Palm Jumeirah. In fact, the purchase of a villa in Palm Jumeirah made headlines for its record sale amount of $82 million in July 2022.
Dubai also consolidated its status as the world’s leading Foreign Direct Investment (FDI) hub, retaining the 1st rank globally for the first half of 2022. The emirate achieved a record of 492 FDI projects during H1 2022, an 80.2 per cent increase from 2021 (Data source: Dubai Department of Economy & Tourism)
As one of the most attractive property markets in the world, there are some key benefits of starting a real estate business in Dubai such as:
- Significant returns: Investors in Dubai’s property sector consistently generate impressive returns, with guaranteed yield of 5% annually & above.
- Clear regulations: Dubai is known for its highly regulated & transparent legal systems which allow for complete transparency for your investments.
- Diverse property market: Dubai boasts large and diversified real estate offerings to investors. Buildings are present for every sector, including residential, commercial, luxury, hotels, accommodation, industrial units & more.
- Competitive & open: The Dubai real estate scene is dynamic & open to easy investment for all, specially foreign investors.
- High capital gains/rental yield: Investors looking into real estate can benefit from the high potential capital gains & rental yield Dubai offers.
Real Estate boom in Dubai: Facts & figures
- The first working day of 2022 saw a total sale of USD 698 million
- The Dubai Land Department registered a total of 227 transactions
- Estimated value of all transactions in the first week of 2022 was worth USD 1.97 billion
- Palm Jumeirah recorded the largest sale of housing, with the transactions being worth USD 136 million
- Residential values in prime properties saw a growth of 29% in the 3rd quarter, propelled by HNI (High Networth Individuals) seeking second homes in UAE
Dubai: The land of infinite opportunities
Investment in the UAE and Dubai are seeing major boosts since the start of 2022. The reasons behind it are numerous. Some of the key causes of the real estate boom in Dubai are:
- Strategic geographic location of Dubai
- Diversity of culture due to foreign expats
- Stability of the UAE economy post Covid
- Lack of annual property taxes on holdings
- Dubai is the city of futuristic development & construction
- Enjoy high returns on investments
- Unparalleled infrastructure
- Unrivalled & matchless real estate projects
Opening a Real Estate business in Dubai
The influx of investors in property buying has led to an increase in the number of real estate business opportunities. As a result, Dubai’s real estate industry is seeing a major boom which is why opening a real estate business in Dubai is in great demand. The process for opening a real estate agency is smooth when you partner with a reliable business setup expert like Shuraa Business Setup.
In Dubai, apart from the basic global requirements such as having a business plan, securing funds, employing realtors, you will need to comply with the laws of Dubai in getting your business license, RERA certification, government approvals etc. This is where Shuraa comes in.
Succeed with Shuraa Business Setup
Now is the right time to start your real estate business in Dubai. Shuraa Business Setup is UAE’s leading company formation specialist & has also been a leading presence in UAE for over 20 years. Working parallelly with the trending business opportunities of today, Shuraa has assisted in over 100 real estate business licenses being issued in the first quarter of 2022. Our services include end-to-end business setup in the UAE, managed by a team of expert corporate advisors.
Get benefits such as 100% ownership of your business, free lifetime residency in the UAE, bank account assistance and more. Also, investors who buy properties in the UAE are eligible to apply for a Dubai Golden Visa which lets you plan long term residency in the UAE. Get the best that Dubai has to offer when you join hands with Shuraa.