February 5 2021
Umar Farooq Zahoor, as an Investor:
In the year 2021, we have seen a drastic change in the sales performance during the fourth portion that gives a good start to this new year, and also, investors return in the market too. According to the real estate market of Dubai, it looks to stage a robust rebound this year by following the solid performance in the 4th quarter of the year 2020 due to the policies of the government that took initiatives and then, a stimulus to restore the confidence in the economy.
By keeping the data released by the Property finder Group, industry stakeholders as well as analysts, Umar Farooq Zahoor said that the Dubai property market has experienced a few brisk activities from October 2020 to that of December 2020as the investors are returned to the market. The property market of Dubai has noticed a boost of sales worth Dirham 22billionvia the 11K transactions during this 4thquarterof 2K20 against the 24 billion sales observed in the same quarter that of the last year.
Sheikh Umar Farooq Zahoor said that the monthly data of December depicts that the sales worth Dirhams 6billion as recorded via 2500 secondary as well as ready transactions, emerging growth of around ten percent over Nov’20. According to the Farooq, the last two months of December and November in 2020 will be experienced as a great hike in both secondary as well as ready market after recording transactions for the last seven years.
As an investor in Dubai, Umar Farooq Zahoor said that the performance in the fourth quarter of the real estate market-based in the Emirates is too obvious and in fact, depicted by those people who have a close eye on the economic recovery speed in the light of epidemic.
Sheikh Umar Farooq Zahoor has an opinion that the response of both the United Arab Emirates as well as Dubai has been too exemplary and the future will surely favor such economies can also venture into the post-pandemic era in such a quickest way. The pole position of Dubai in such a tough time seems like a sense of confidence among all residents as well as foreign investors, said Umar Farooq Zahoor.
Add to some favorable moves done by the nation in the field of leadership, such a 100% of business ownerships as well as long-time visas, we can expect the next quarter will outperform like this one. Therefore, Dubai has almost recovered and get back to the original position.