“Infrastructure Investment Boosting Dubai Real Estate Market, Says Kashif Ansari”

Dubai’s Real Estate Market Set for Boom with $34.85 Billion Investment

In a major development for the real estate market in Dubai, plans have been announced for a new $34.85 billion passenger terminal at Dubai World Central – Al Maktoum International (DWC), set to be completed by 2034. This significant infrastructure investment is expected to give a big boost to the market, signaling strong growth prospects at the macro level.

Kashif Ansari, Cofounder and Group CEO of Juwai IQI GLOBAL, shared this exciting news with Gulf Today, highlighting the positive impact it will have on the UAE real estate market. With solid demand and limited supply, the real estate sector in Dubai is poised for continued growth in the long run.

The contribution of the real estate sector to Dubai’s economy is substantial, accounting for 8 to 9 per cent overall. Over the past decade, Dubai has seen a remarkable boom in its real estate market, attracting interest from global investors. Mortgage approvals have surged by 40 per cent, indicating banks’ confidence in the market.

Despite challenges such as inflation and global economic uncertainties, Dubai remains an attractive destination for luxury property investment. The city is set to deliver 13,000 homes annually for the next six years, positioning it as one of the most affordable luxury markets globally.

Kashif Ansari predicts a 5 to 7 per cent increase in prime residential values in Dubai for 2024, making it the third fastest-growing prime residential market worldwide. With its strategic location and upscale offerings, Dubai continues to lure international elite investors seeking high returns in the real estate sector.

As Dubai gears up for transformative developments like the new passenger terminal at DWC, the future looks bright for the city’s real estate market, cementing its status as a premier global investment destination.