An aerial view of Al Wasl dome at Expo 2020 Dubai.
Inayat-ur-Rahman, Business Editor
Key One Realty Group, a leading award winner real estate firm in Dubai has announced its active participation at the Expo 2020 Dubai under Cityscape Global.
Diana Magariu, CEO and Founder, Key One Realty Group told Gulf Today that it was a great privilege and an excellent opportunity for her company to exhibit at the mega event opening in Dubai on Oct.1, 2021.
“Not only will we be able to meet new clients and expand our network, but we will be able to share new ideas and insights with others in the same industry.” Diana added.
“I also believe that it will not only make people visit Dubai but actually help them understand the country, appreciate it, and want to live in it,” she added.
Image used for illustrative purpose only.
“People are willing to relocate to the UAE because it is one of the few countries that was able to contain the spread of COVID rapidly – on top of being a major business hub. Especially with Expo 2020 which will bring in more investment opportunities.”
Answering to a question about how the company was able to run during the pandemic, Diana mentioned that COVID-19 was a really big challenge for us. Everyone had to work from home and movement was really restricted. Thankfully, the Dubai Land Department implemented a remote registration service where we could finalise property transactions without the presence of the buyer and seller needed physically.”
“I really commend the visionary Rulers of this great country. They were able to provide solutions to the challenges the pandemic caused to businesses in all sectors. Without their quick , smart visions and fast ability to introduce these digital resources, I think none of the companies operating in the country would have fared well.” Diana added.
“We saw the positive side of such a challenging situation. Because of it, we learned to adopt new tools, new communication methods, and new ways of doing real estate. We have become more efficient and effective in our process.”
“According to the Dubai Land Department (DLD), Q2 of 2021 recorded 15,638 sales transactions worth Dhs 36.86 billion. There is also a quarter-on-quarter increase of 46.76% in sales value and 33.26% in volume meaning more people are starting to invest in properties once again.”
“For June 2021, there was a month-on-month increase of 44.33% in sales volume and 33.20% in value which means property prices are going up due to the increase in demand. 2% of the sales transactions were in the secondary market and 37.8% were off-plan.”
“If we compare Q2 of 2021 to Q2 of 2020, there is an increase of 183.4% in volume and 237.79% in the value of sales transactions. If compared to 2019, an increase of 78.27% in volume and 102% in value can be seen. Dubai real estate marketing is slowly but surely progressing.”
Image used for illustrative purpose only.
“DLD also adds that the top areas of interest in Q2 for villas and townhouses were Mohammed Bin Rashid City (MBR), Dubai Hills Estate, Dubai Land, Green Community, and Town Square. As for apartments, Jumeirah Lake Towers, Dubai Marina, Meydan, Jumeirah Village Circle, and Downtown Dubai were top areas of interest.”
“It’s not a surprise that investors took advantage of the low prices of properties during the height of the pandemic. When things eventually settled down and the demand started outpouring, naturally, property prices started increasing,” Diana said.
Based on the trends above, the real estate market is inclined upwards on the charts. Diana believes that the coming 6-12 months will bring more stability to the market due to investors gaining their confidence back. However, a cut back in supply in housing is necessary to really trigger faster recovery.
With 14 years of experience in the Dubai real estate market, Key One Realty Group is an expert in providing real estate solutions for new and seasoned investors. What started as a brokerage of 3 people grew into 4 individual divisions operating under the Key One umbrella. These are Key One Real Estate Brokerage, Key One Property Management, Key One Holiday Homes, and Key One Design Solution.
Headed by CEO Diana Magariu, the company services over 1,000 clients monthly both locally and abroad, with a portfolio of over 1,500 units of managed properties and exclusive buildings.
“Another key factor in the country’s attractiveness both to investors and end-users is that there is no property tax, capital gain tax, or even income tax.
Investors only need to pay a one-time fee of 4% for land registry and won’t have to worry about computing tax from then on. There is no tax payable on income received from sales nor the rental income.” Diana concluded.
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