Building strong

International investors are boosting Dubai’s residential property market, which has rebounded strongly from the Covid crisis, writes Aarti Nagraj

- Aarti Nagraj

At Dubai’s biggest real estate exhibition, Cityscape Global, the mood was extremely upbeat. Industry players across the board have seen strong market performance this year, with the rebound clearly visible from the Covid crisis.

Interestingly, one of the key trends that most developers say helped boost the market has been the growing presence of international investors in Dubai’s property landscape. The emirate’s handling of the Covid-19 pandemic, with limited lockdowns and strict enforcement of precautionary guidelines, has attracted several investors from across the world, which in turn has led to strong demand in the market, developers participating at Cityscape Global said.

The numbers back up the trend: During the first nine months of the year, a total of 43,299 property sales transactions worth Dhs104.3bn were recorded in Dubai, with the values up 45.15 per cent compared to 2020 as a whole.