Dubai’s property market is performing well, supported by strong payment infrastructure, and now is “the right time to invest” according to president of Strategic Marketing and Exhibitions (SME), Dawood Al Shezawi.
The comments were made as SME unveiled the 12th edition of International Property Show (IPS) which will run from 11 to 13 April 2016 at the Dubai International Convention and Exhibition Centre in a press conference held on 2 February 2016.
IPS has triggered transactions over $40bn between 2006 and 2015, after organisers reached out to investors in more than 180 countries, out of which 150 will be represented at the show.
Al Shezawi explained that investing in the UAE is a quicker transaction than any other nation. Drawing from his personal experience he says it might take six months to six years in other nations but in the UAE it is fast and efficient, with most of the transactions done online.
Despite market pressures due to oil and the alleged slowdown, Al Shezawi stressed “this is the right time to invest”.
Abdulbasset Betraoui, managing partner at Land Sterling, further explained that this is because the market today knows how to cater to the needs of buyers.
“Developers are taking customer needs seriously. One of the biggest change is the rise of affordable housing projects, such as Danube Properties’ Ritz, as a response to the growth in its demand,” he said.
With the market being at it’s optimal maturity with smart investors and lucrative properties, Al Shezawi is expecting a 25% increase in transactions at IPS 2016.