Dubai real estate set to defy global recession fear

Dubai real estate set to defy global recession fear

Visa reforms, investor-friendly policies and ease of doing business will keep Dubai property market resilient and it will swiftly navigate through global recessionary trend

Published: Sun 11 Sep 2022, 4:09 PM

Dubai real estate will continue to thrive and remain on growth path despite global recession fear as the government's time actions to ensure stability in the market have boosted investor confidence, experts say.

Analysts, executives and industry experts said Dubai has cemented its position as a global business, tourism and financial hub and high net worth individuals, millionaires and investors will continue to invest in the property sector.

They said visa reforms, investor-friendly policies and ease of doing business will keep Dubai real estate market resilient and it will swiftly navigate through global recessionary trend in the wake of Russia-Ukraine crisis, rising energy cost and worldwide inflation.

Stability on cards

Haider Tuaima, director and head of Real Estate Research at ValuStrat said the Dubai real estate market is likely heading towards stabilisation within the medium term and any negative sentiments could potentially accelerate this trend.

"Strategic decisions put into action by the government since 2019, balancing supply and boosting demand in addition to the 2040 urban plan and enhancing market transparency by openly sharing transactional data,