In part one of our expert 2020 market trends analysis, we took at the effect EXPO 2020 is projected to have on the UAE economy and its future growth. Successful economic performance is always going to be a good thing for the property market in any country, but there are unique qualities to the UAE experience, particularly in Dubai, that definitively enhance the environment for luxury property growth and the real estate market as a whole.
As well as the innovative ethos of the UAE facilitating the building of some of the world’s finest luxury properties, its physical location provides numerous benefits to the property market as a whole. Two-thirds of the world’s population are within an eight hour flight time of the UAE and many of the most profitable trading routes or deals require some form of assistance from our government or facilities. Our role in connecting eastern and western markets cements the desire for companies to maintain their regional presence in the country. This unique position has fostered the development of larger, grander and more innovative properties that attract outside investment and meet the demand of those browsing the luxury property market.
Going the Extra Mile
There is no doubt that global events such as EXPO 2020 infuse further economic vibrancy into the UAE, but it is only through strategic government initiatives that the resulting energy can be channelled into a lasting legacy. A crucial way in which the UAE have been doing this is in soft infrastructure changes. 2019 saw a series of key developments that have greatly benefitted the real estate market including the introduction of long-term visas related to property investment which is hugely popular with internationally-based clients who recognise the value of a base in the UAE. As well as a range of new visas and access points for global businesses, there is now 100% onshore company ownership for 122 activities across 13 sectors as well; further enhancing the attraction of outside investment.
There is a distinct shift occurring in societal priorities that has garnered quite a lot of steam heading into 2020; that is the one that desires greater quality and genuine authenticity. Buyers and investors in the property market in particular are quick to disregard the carbon copies or quantity developments of the past, instead opting to seek the extraordinary, in both style and service. There are so many clients that come to Gulf Sotheby’s International Realty, from all over the world, for a variety of reasons. Many come for our exclusive listings that you can’t find anywhere else. Some are building their own luxury property investment portfolio. Others are looking for that exceptional home with state-of-the-art-features.
There are many local and regional property buyers who want a stunning penthouse or villa with beach-side views that is still only minutes from the action in Downtown Dubai. The element that unities these different factions is a demand for excellence and quality. They want to view the very finest properties available, finished to the highest standards, and be guaranteed the most professional service during every step of the transaction. As a brand with decades of superior heritage and a globally recognised reputation, this return to quality over all
things, reflects who we are at our core and gives us the opportunity to share that gift with property buyers and property sellers, wherever they are in the world.