On last Wednesday, a senior government official declared a statement
that Job establishment and increasing economic activity will boost the
demand for Dubai residential real estate this year.
Sheikh Ahmad, who is the chairman of the Dubai Supreme Fiscal Committee, said on Wednesday that the economy of Dubai is expected to increase by 4.5 percent in 2012. Also, this growth will be three percent more than last year.
While the real estate and construction sector is forecast to decline by 2.5 percent this year, the Department of Economic Development said it was confident overall economic growth would lead to increased demand for property and help to ease the emirate's oversupply issue.
Sami the director general of the department of economic development, said in a presentation of Dubai Economic Outlook 2012 on Wednesday that "I believe by increasing and pushing growth in the other sectors, demand will increase in the realty sector,"
Currently there are about 336,000 residential units in Dubai, according to the property consultants Jones Lang: approximately 23,000 additional units will enter in the U.A.E real estate market in 2012.
"We are expecting more jobs to come and more people to come and we are expecting more demand in the realty sector. I believe if other sectors start showing positive growth definitely it will have a positive impact on the landed property," he added.
According to the latest job index survey by Bayt.com, it is found that many businesses will hire new staff in next three months. So, it will be a great opportunity for many job searchers to start a new life in U.A.E. About 50% of the U.A.E companies said that they will defiantly open job vacancies in next three months and about 44% of U.A.E firms said that they will hire less than or may be five people in their companies. A recent survey indicates that 60% of the companies will defiantly start hiring employees this year.
"We need to come and work on some initiatives to push the real estate and construction sector... to show some positive movement. I believe the government is working towards these initiatives and to work to move this sector," Sami said.
According to the 2012 property report of U.A.E, Jones Lang believes that here are some major trends for the U.A.E's property sector that will definitely increase in next twelve months:
More Practicality: The landed property sector of U.A.E will show more realism in 2012. The project owners or constructors will be more focus toward clients demand and requirements and long-term commercial feasibility.
More choice: The choices for property investment will increase in 2012. So, it will be a great chance for worldwide property investors to choose their favorite property for profitable investment.
Higher Quality: In 2012, there will be a stress on better quality projects across all sectors. Also, there will be a greater division between winners and losers as performance will depend on the quality of their construction.
More transactions:A higher volume of transaction is expected in 2012.It will happen just because of increasing interest of worldwide investors in U.A.E property market.
Hopefully above information will definitely help you to understand that whether this year will be a golden chance for UAE property lovers or not. Best of Luck!
elysian Real Estate is a leading name of UAE real estate providers. Browse us and find quality UAE property for rent or purchase at great locations across UAE.
Sheikh Ahmad, who is the chairman of the Dubai Supreme Fiscal Committee, said on Wednesday that the economy of Dubai is expected to increase by 4.5 percent in 2012. Also, this growth will be three percent more than last year.
While the real estate and construction sector is forecast to decline by 2.5 percent this year, the Department of Economic Development said it was confident overall economic growth would lead to increased demand for property and help to ease the emirate's oversupply issue.
Sami the director general of the department of economic development, said in a presentation of Dubai Economic Outlook 2012 on Wednesday that "I believe by increasing and pushing growth in the other sectors, demand will increase in the realty sector,"
Currently there are about 336,000 residential units in Dubai, according to the property consultants Jones Lang: approximately 23,000 additional units will enter in the U.A.E real estate market in 2012.
"We are expecting more jobs to come and more people to come and we are expecting more demand in the realty sector. I believe if other sectors start showing positive growth definitely it will have a positive impact on the landed property," he added.
According to the latest job index survey by Bayt.com, it is found that many businesses will hire new staff in next three months. So, it will be a great opportunity for many job searchers to start a new life in U.A.E. About 50% of the U.A.E companies said that they will defiantly open job vacancies in next three months and about 44% of U.A.E firms said that they will hire less than or may be five people in their companies. A recent survey indicates that 60% of the companies will defiantly start hiring employees this year.
"We need to come and work on some initiatives to push the real estate and construction sector... to show some positive movement. I believe the government is working towards these initiatives and to work to move this sector," Sami said.
According to the 2012 property report of U.A.E, Jones Lang believes that here are some major trends for the U.A.E's property sector that will definitely increase in next twelve months:
More Practicality: The landed property sector of U.A.E will show more realism in 2012. The project owners or constructors will be more focus toward clients demand and requirements and long-term commercial feasibility.
More choice: The choices for property investment will increase in 2012. So, it will be a great chance for worldwide property investors to choose their favorite property for profitable investment.
Higher Quality: In 2012, there will be a stress on better quality projects across all sectors. Also, there will be a greater division between winners and losers as performance will depend on the quality of their construction.
More transactions:A higher volume of transaction is expected in 2012.It will happen just because of increasing interest of worldwide investors in U.A.E property market.
Hopefully above information will definitely help you to understand that whether this year will be a golden chance for UAE property lovers or not. Best of Luck!
elysian Real Estate is a leading name of UAE real estate providers. Browse us and find quality UAE property for rent or purchase at great locations across UAE.
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