March 21, 2018
The Dubai real estate market saw transactions that exceeded AED 285 billion through 69,000 real estate deals in 2017, according to the latest statistics revealed by the Dubai Land Department (DLD). The market activity over the past year, including sales and mortgages, reflects Dubai real estate market’s continuing growth, when compared with the market’s performance in 2015 and 2016.According to Medallion Associates, the Dubai-based real estate investment and advisory firm, the emirate’s real estate investments are expected to grow significantly in 2018. The company’s recent participation at MIPIM, one of the world’s leading international real estate business, conference and networking events, in France, underscores its confidence in the emirate’s thriving property market.
During its participation in the event, Medallion Associates reaffirmed its commitment to sharing innovative ideas and solutions for unique projects and asset management with investors and key international stakeholders with an aim to connect with future partners and promote Dubai’s real estate investment opportunities to the global audience.
Dubai’s rapid growth as a global commercial hub and a leading tourism destination continues to attract international buyers and investors, in the years leading up to the Expo 2020. The emirate’s market is on par with mature markets such as Singapore and Hong Kong for Chinese investors, as Dubai aims to attract AED 1 billion worth of Chinese investments into its property sector. The market offers great returns to Chinese investors both in terms of prices and rentals, with the emirate's property prices valued 1/7th of Hong Kong and 1/3rd of that of Singapore.
Medallion Associates had recently been appointed as the custodian of the Dubai Land Department’s international real estate promotion to assist the department in promoting Dubai as the world’s premier investment destination for innovation, trust and happiness. The real estate consultancy and advisory service provider is also supporting DLD by participating in the department’s international real estate roadshows and workshops and providing its services in several selected cities across the world. In addition, the company is targeting to create a portfolio of AED 1 billion in a diversified portfolio that covers residential, commercial, hospitality and educational sectors, thereby contributing to the emirate’s thriving real estate market.
In 2017, Dubai witnessed a high-levelof real estate activities among foreign investors, with nearly 23,000 investors making approximately 30,000 transactions worth AED 56 billion throughout the year. Over 9,790 Gulf citizens made 14,381 transactions worth more than AED 37 billion in 2017. According to DLD,approximately 7,000 Arab investors closed 8,644 real estate transactions worth over AED 14 billion.
Investors from the UAE topped the list of nationalities investing in the emirate’s real estate market with their total investment valued at AED 25.307 billion, followed by Indian investors who invested AED 15.6 billion. The Saudis came in third place with investments exceeding AED 7 billion, followed by British and Pakistanis, Chinese, Jordanians, Egyptians and Canadians.
Masood Al Awar, CEO of Medallion Associates said, “A total of 217 nationalities ploughed a total of AED 151 billion into Dubai realty last year, once again underscoring investors’ confidence in the security and regulatory framework of the environment that guarantees safety of the capital and maintains a stable environment conducive for investment and opportunities. The emirate is also among the top 10 fastest growing premium property markets globally. We are constantly observing the local and international real estate market trends, changing price points, asset class and customer segments and can undoubtedly say that there is a huge potential for growth ahead for Dubai real estate market beyond 2020.”
Medallion Associates, the real estate investment and advisory firm headquartered in Dubai, specializes in exclusive real estate developments for investment and consulting opportunities in both the private and public sector. The company’s services include private equity placement, fund raising, joint ventures, asset management, and sales of real estate through its distribution channels and real estate marketing.