The UAE Real Estate Market: Transparency at its best General
If there’s one direction that UAE is heading to, it’s always forward. UAE’s Real Estate Market continues to surge its way to become a global influence. According to an article from Khaleej Times, the transparency of the market has greatly improved compared to 2016. This means that investors, buyers, sellers, tenants, and other people involved in the process of the Real Estate Market could build stronger relationships, founded by trust and honesty.
It was said in the article that the Real Estate in Dubai maintained its top ranking in the MENA region, while its global ranking improved eight positions higher, placing it on the 40th. Abu Dhabi also improved to 55th on the 2018 index. With that being said, it will be easier to make transactions because there is a high certainty that will strengthen the decision of buyers.
A transparent market benefits not just the Real Estate Industry, but also the global sphere of influence of UAE. Because of this, more foreign investors will be much eager to partner with UAE, greatly improving the nation’s economy. Add to that is the fact that developers are pushed to deliver their commitments on time and with the highest of quality.
Digital ways of Real Estate Transactions are being developed as well in order to keep up UAE’s consistency when it comes to transparency. According to Imran Farooq, CEO, Samana Developers, the launch of Real Estate Self Transaction (REST), made the real estate market more transparent and at par with international property markets. With digital management, transactions are faster, safer, and secured. The technology also allows multiple transactions which could be done anytime and anywhere.
As years continue to pass by, we are seeing a continuous leap for the UAE Real Estate Market until it reaches its goal to be on top. While this may take quite some time to be accomplished, we are not seeing any signs of slowing down for the Real Estate Market. It will continue to get stronger, most especially for the coming Expo 2020 which is projected to bring millions of new investors and residents. This much awaited event will surely hype the Real Estate Market to the highest it could ever achieve.
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