photo credit: markhillary
The Dubai real estate market is set to continue as an investment property hot spot, according to profit statistics from one firm.
Al Mazaya Holding says the Emirate is set to hold its value in spite of current world financial concerns.
The United Arab Emirates in general is also in good investment shape, the company added, with population growth, incomes and economic stability all looking healthy.
Yearly real estate profits in the UAE range between eight and 14 per cent, Al Mazaya says.
Khalid Esbaitah, managing director of Al Mazaya, said:
“The UAE has a market that relies on cash where buyers make an instalment plan to their properties’ value, which means that, unlike US and European markets where buyers must use real estate loans, buyers here don’t have to borrow money via that means.”
He also said falling oil prices will not affect real estate investment “in the short term”, thanks to the investment sector in general making large profits from the recent leaps in crude values.
Esbaitah also said the government of Dubai’s decision to guarantee bank deposits has attracted foreign money and recovered capital which had moved outside the UAE.
Al Mazaya specialises in housing projects across the Gulf region, including deluxe villas and high rise residences.
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