Investors’ profits in Dubai realty exceeded 100% since pandemic
- 26 Mar 2023
Picture used for illustrative purpose only.
Inayat-ur-Rahman, Business Editor
Al Zarooni added that the Dubai real estate sector, which is one of the best cities in the world for living, working, investing and tourism, was fruitful for everyone who bet on investing , regardless the residential groups , which were and still constitute great investment opportunities for everyone.
He pointed out that Dubai is witnessing an increasing influx of wealthy foreigners aspiring to settle and invest in all business activities, especially the thriving real estate sector, which give record profits and ease of buying and selling, besides the market maturity and its best international standards. He said that Dubai is strengthening their position as the capital of the international wealthy , and this is evident in focusing on the high volume of premium properties sold, at a price exceeding Dhs50 million .
Al Zarooni called on real estate developers to be fully prepared to grasp any expected additional demand for this type of real estate. They are advised to respond to the major shifts in the real estate market, and work to develop projects commensurate with this category of wealthy people, who have begun to settle themselves as real estate investors, which is reflected positively on the macro landscape of Dubai’s economy.
The CEO confirmed that whoever buys a property with a value of Dhs50 million or Dhs100 million will establish investments that exceed the value of what was invested in the property.
Waleed Al Zarooni, who established his company in the real estate brokerage sector in Dubai nearly two decades ago, said that the strong demand for Dubai real estate reflects confidence in the future growth of the UAE economy, and enhances the added value of Dubai as a global city.
As for the real estate market as a whole, the expert believes that everyone who invested during the Covid-19 period increased the value of his investments by more than 80%, according to statistics and data issued by the Dubai Land Department, and even this percentage exceeded 100% in a large number of housing units, especially in premium real estate.
The clear example he made is that if an investor purchased a plot of land in the Jumeirah 2 area, and used to sell a square foot for 5 thousand dirhams, its price has now doubled to 10 thousand dirhams.
Al Zarooni monitored the great interest and high quality of the companies that carry out the final finishing in premium real estate, focusing on the minute details of interest to the real estate investor.
“Among these details are comfort and luxury and providing all the requirements that businessmen and wealthy people desire, so that, for example, electric chargers are provided,” he said. Cars, meeting rooms, gyms, and gardens designed in a specific way, in addition to choosing the most luxurious furniture and decorations to ensure complete luxurious lifestyle,” he added.
Walid Al Zarooni revealed that one of the most important things that helps companies achieve good profits is choosing the quality of raw materials imported from certain places, some of which are plated with gold for best impression.
Al Zarooni expected that the real estate momentum in the premium housing sector will continue, with the influx of more wealthy people amid escalating geopolitical tensions around the world, while Dubai provides the what these people seek for such as security, safety, investment and work at the same time.
*Dubai proved the best equation by providing the best environment for living, working and investing,
“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.
Since its inception, the company has sold over Dhs 200 million of properties to major developers.
Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”