The most anticipated event of 2021 in Dubai is the opening of the world Expo 2020. In connection with the announced pandemic and quarantine in March 2020, it was decided for the first time not to cancel, but to move the exhibition. This decision was right for the real property market: a huge flow of applicants to visit the exhibition increased the demand for housing, including an increase in the number of buying villas in UAE for expats.
According to Emirates.Estate, Dubai is called one of the most demanded tourist cities. Warm weather throughout the year, the Arabic charm, luxury, beautiful architecture, startling skyscrapers, grandiose fountains and huge shopping malls – all this and and a lot more attracts tourists from all over the world. Holding an exhibition in this city has become an opportunity for many to simultaneously get acquainted with the beauties of the city.
Expo 2020 and Dubai Real Property Market
As soon as it became known that Expo 2020 will be held in Dubai, development companies began to immediately design new projects and build new residential areas and communities. Even before the opening of the exhibition, according to some real estate agencies, a sizeable portion of the finished residential properties had been booked.
Georges El Hashem, commercial director of the well-reputed development company Select Group, suggested that guests and participants of Expo 2020 will be able to discern and appreciate the innovation and foresight of Dubai. According to him, Dubai has long established itself as the main tourist capital of the Emirates, and soon the city will become one of the important business centers on the Persian coast. He also noted that the metropolis is of interest both among tourists who rent housing for a short time, and among visiting foreigners in search of work, who are subsequently ready to move and buy their own housing here. And residential properties are in demand not only among the UAE citizens or expats who wish to purchase housing for their own use, but also among investors who understand that the exhibition will make a good profit from the acquired property in Dubai.
The expert expressed the opinion that Expo-2020 will attract the attention of the world community to Dubai, which will have a positive effect on the property market and an increase in demand, which will gradually grow in the next couple of years after the exhibition.
Other reasons for interest in the Dubai property market
Of course, the main reason for the increased demand for real property in Dubai is the holding of Expo 2020, but there are other important reasons as well. One of them is related to the implementation of the main points of the plan to combat the pandemic, which has returned global foreign investors to Dubai. Another reason for the increase in property demand is associated with the launch of the “golden” visas program for certain categories. The third reason is the possibility of holding a business in the UAE, not only by citizens of this country, but also by foreigners.
Assistance in buying real estate in the UAE
Whatever your choice, be it a cozy studio or a large luxurious penthouse in an upscale residential complex , it is impossible to manage without the help of a professional. We recommend contacting Emirates.Estate: qualified employees, based on your preferences and desires, will promptly select residential or commercial property and help you get all the necessary paperwork done. Contact the company today, and tomorrow you will be able to familiarize yourself with the attractive offers of the real property in Dubai or another city in the United Arab Emirates.