20 January 2022 – Khaleej Times – www.khaleejtimes.com
New property portal to provide authentic information on real estate sourced directly from Land Department.
The outlook for the Dubai property sector is more promising this year as there is a strong interest from key markets across Asia, Europe and the Middle East, said Khalifa Al Suwaidi, CEO and board member, Emirates Real Estate Solutions, Dubai Land Department.
“We see the upward trend continuing this year that was seen in 2021. New projects are coming up in 2022, so more transactions are likely to happen as Dubai sees interest from multiple regions around the world including Asia, Europe and the Middle East,” said Al Suwaidi.
According to the annual transaction report issued recently by the Dubai Land Department (DLD), Dubai’s real estate market recorded 84,772 transactions worth Dh300 billion in 2021.
“2021 has been a very successful year for the real estate sector. Some of the key factors were the world-class infrastructure that Dubai offers as well as the local healthcare sector that didn’t stop innovating in 2020 and 2021. With Expo 2020, we have seen a lot of investors from other countries coming to Dubai. During the pandemic, we saw some challenges but overcame them with the help of infrastructure and new technologies by providing the right solutions to the community,” he added.
Al Suwaidi was speaking on the sidelines of a panel discussion titled “Government Transformed” organised by Khaleej Times and Oracle on Tuesday. The roundtable discussion was attended by senior government officials from the Department of Finance, Dubai Health Authority, Roads and Transport Authority, Dubai Municipality and others.