“Kashif Ansari Discusses Infrastructure Investment and Real Estate Market in Dubai”

Dubai’s Real Estate Market Set to Receive a Boost with New $34.85 Billion Passenger Terminal at Dubai World Central – Al Maktoum International

Dubai continues to solidify its position as a global hub for real estate investment with the announcement of a new $34.85 billion passenger terminal at Dubai World Central – Al Maktoum International (DWC). The project, expected to be completed by 2034, is set to provide a significant boost to the real estate market in the emirate.

Kashif Ansari, Cofounder and Group CEO of Juwai IQI GLOBAL, shared this exciting news with Gulf Today, emphasizing the positive impact of infrastructure investment on the real estate sector. According to Ansari, the UAE’s real estate market is experiencing strong growth driven by solid demand and limited supply, signaling long-term robustness for the market.

Dubai’s real estate market has been a key contributor to the emirate’s economy, accounting for 8 to 9 percent of its GDP. With a surge in global interest in Dubai’s property market, particularly among sophisticated investors, the city has become a preferred destination for real estate investment.

Despite challenges such as inflation and global geopolitical uncertainties, Dubai remains an attractive and affordable luxury market. Mortgage approvals have seen a significant 40 percent increase, indicating that banks are optimistic about the real estate market’s outlook.

Looking ahead, Juwai IQI predicts a 5 to 7 percent increase in prime residential values in Dubai in 2024, positioning the city as the third fastest-growing prime residential market globally. With ongoing infrastructure developments and a strong demand-supply dynamic, Dubai’s real estate market is poised for continued growth and resilience in the years to come.