According to Walid Al Zarooni, CEO of W Capital, a real estate firm in the United Arab Emirates, investing in Dubai’s upmarket real estate has shown to be a wise choice during the COVID-19 epidemic. Al Zarooni claims that from 2020 to the first quarter of 2023, real estate investors who took the chance to invest in Dubai saw their earnings exceed 100%, particularly in luxury real estate. He added that regardless of residential groupings, the real estate market is ready for investment possibilities for everyone.
Dubai is becoming a more alluring location for affluent foreign investors interested in making investments in all commercial ventures, particularly in the burgeoning real estate sector. High-net-worth people ready to spend more than AED 50 million on upscale houses have flooded the market. Al Zarooni advised property developers to be properly equipped to satisfy any future demand for this kind of real estate and create projects that cater to these affluent people.
According to data from the Dubai Land Department, the value of investments in the real estate sector in Dubai increased by 80% during the epidemic. Al Zarooni thinks that this proportion has even gone over 100% in a significant number of dwelling units, particularly in more expensive real estate. He also emphasised the small elements that distinguish luxury real estate, such as auto charging stations, conference spaces, gyms, and specially planned gardens. Also, the calibre of raw materials—some of which are gold-plated—can aid businesses in making significant earnings.
As more rich people want to invest in the city, the demand for luxury properties in Dubai is anticipated to grow. High-net-worth individuals can find the security, safety, investment possibilities, and work conditions they want in Dubai. According to Al Zarooni, the trust that investors have in the Dubai economy will determine the city’s future growth.
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