Dubai Holding, the major state-owned investment holding company in Dubai, said it expects to sell 6,000 new homes during the rest of 2021 and early next year. The company is optimistic about the current situation in the real estate market. The growing demand, especially from foreign investors, contributes to an increase in sales.
Established through the merger of Dubai Properties, Meraas, North25, and Ejadah, the company sold about 1,500 units in the six months to June 2021. It plans to sell a further 1,500 homes by the end of 2021.
“We’ve certainly seen strong demand in the market this year,” Alexander Davies, chief commercial officer of the DHRE, said.
“There’s been great support from government in making sure that the customers are protected, the developers are protected ... that everyone delivers on their promises. All of these are really helping the market to mature and maintain its current strength.”
“There is a lot being done to ensure not just attracting foreign direct investment here, but also people’s residency continues to lengthen. I think those initiatives by the government really underpin the confidence in the real estate sector,” he added.
According to Property Finder, there is an increased activity in the real estate market. Existing homes and luxury villas are the most sought-after housing options. The total value of transactions for 8 months of 2021 has already exceeded that of 2020 by more than 20%.
