Saturday, November 4, 2017

Dubai real estate market in spotlight at US event

Dubai real estate market’s continuing growth story has been featured in an international briefing of global real estate markets at the Miami International Real Estate Congress, organized by the Miami Association of Realtors.

Top executives from Realopedia, the global real estate e-marketplace established in Dubai, presented a market briefing at the event, an annual gathering of real estate professionals across the US and worldwide.

Wally Gebara, the associate VP of Realopedia for North America and Paul Gebara, the director of Marketing and Business Development of Realopedia, highlighted the sector’s key growth areas.

The duo pointed out that foreign investors accounted for most of real estate investments in the emirate during the first nine months of 2017, amounting to $11.7 billion from a total of 22, 667 transactions, based on official data.

Gebara said Miami had one of the most established property markets in the world and it was important that emerging markets such as Dubai maintained its presence in these types of congregations given the emirate’s attractiveness to foreign investors.

"Dubai’s property market continues to be an attractive investment haven as the data speaks for itself – recording a total of $41 billion deals between January 2016 and June 2017 from about 217 nationalities," he added.

With Dubai looking forward to host Expo 2020, Gebara highlighted the ongoing activities and preparations in the run up to the global event.

Demand for properties in the emirate are expected to soar to meet visitors and businesses’ needs during the six-month trade fair.

The central business districts and luxury offerings drew sales the most during the first nine months of the year, with Burj Khalifa leading in the transactions, reveals data from the Dubai Land Department.

The Realopedia Team will also head to the annual conference of National Association of Realtors in Chicago.

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