Dubai’s Ambitious 2033 Real Estate Strategy Unveiled at ‘Meet the CEO’ Session

October 29, 2024 Camelia Bhattacharyya Asia Pacific, Business 0

2033 Real Estate Strategy: Dubai’s Roadmap to Global Market Leadership
2033 Real Estate Strategy: Dubai’s Roadmap to Global Market Leadership

To bolster Dubai’s real estate market, the Dubai Land Department has unveiled the Dubai Real Estate Sector Strategy 2033. The announcement was made during the “Meet the CEO” session organized by the Government of Dubai Media Office.

His Excellency Engineer Marwan Ahmed bin Ghalita, Director General of Dubai Land Department, emphasized the strategy’s alignment with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. “This strategy aims to inspire a transformative shift in Dubai’s real estate sector by fostering sustainability and solidifying Dubai’s role as a regional and global leader in real estate,” he stated.

The strategy outlines a focused roadmap to elevate the sector’s economic impact on the emirate by significantly increasing transaction volumes and reinforcing its appeal as a premier destination for international investors.

See Also:  Trump's tariff threat casts a shadow over several Asian countries, not just China

“Investing in Dubai extends beyond property acquisition; it offers a high-quality lifestyle, further enhancing market appeal and attracting long-term investment,” added bin Ghalita.

Key performance indicators of the strategy include doubling the real estate sector’s contribution to Dubai’s GDP to approximately AED73 billion, increasing homeownership rates to 33%, growing real estate transactions by 70%, raising the market value to AED1 trillion, and expanding the value of Dubai’s real estate portfolios 20 times to AED20 billion.

The session, moderated by Maryam Al Mulla, Director of the Dubai Press Club, was part of the ‘Meet the CEO’ series, reflecting a collaborative effort to promote positive engagement and constructive dialogue between the media and senior officials from government and semi-government entities across Dubai’s key sectors.

See Also:  Pru Life UK Retains Top Spot in Philippines Life Insurance for Q1 2024

Related Stories:

The Demand For Real Estate Soars in DubaiThe Demand For Real Estate Soars in Dubai Unveiling the Potential: Investing in Real Estate in the PhilippinesUnveiling the Potential: Investing in Real Estate in the Philippines real estateWhy Tap A Recruiting Firm For Real Estate X Budgeting Tips Before Investing in Real EstateX Budgeting Tips Before Investing in Real Estate Open House PostcardsThe Functions and Benefits of Open House Postcards for Real Estate Businesses AweSpace Forays Into The Development Of Luxury Villas, Set To Revolutionise The Real Estate Ownership Landscape Armani Casa Condo for Rent and SaleSearching for your Dream Home For Rent, Come To Real Estate Gelfand Realty Minimum taxes, quick payback, annual return of 5%, excellent infrastructure, and high level - all this is available when investing in the hotel business in the United Arab Emirates. Attractive Emirates Dubai in the 1960s Dubai is a young city that in the mid-20th century was just a village where residents were engaged in pearl diving. However, after the discovery of oil in the mid-1960s, the situation changed dramatically. Investors included entrepreneurs from Europe, the USA, India and Pakistan. Izzzi Life Mint In March, Orange Group acquired apartments in Dubai from Saudi builders, and Izzzi Life Mint became the company's first hotel in the UAE. This development is located in an attractive, tranquil, and clean area known as JVC (Jumeirah Village Circle). This area is a free zone for foreigners where property can be purchased privately. Units for Everyone Izzzi Life Mint is a finished building with a total area of 14.8 thousand square meters. There are five floors, underground parking, and a closed landscaped area with developed infrastructure. READ: Real Estate Market in New York: The Situation Is Stabilizing Apartment prices are available starting from $150,000, which includes a studio room ranging from 27 to 30 square meters with finishes, furniture, and appliances. To purchase ownership, you must pay the entire amount at once. After the transaction, buyers receive a free parking space. Prospects The Izzzi Life Mint complex already has a steady stream of rental income. Investors can start receiving income immediately from the first month after purchase. The Orange Group's investment structure, known as Orange Life, offers a unique condition: investors have the right to live in their apartments for up to three months a year, and this period can be divided. In this case, clients pay only utility bills. The management company takes care of all aspects of settlement and documentation, freeing investors from these worries. The guaranteed profitability of the project is 5% until the end of 2025, and additional bonuses are paid at the end of each year, if the profit exceeds 5%, the difference is transferred to the buyer.MyDubai.Media: Investing in Dubai Hotel Business
camelia
About Camelia Bhattacharyya 258 Articles
Camelia is an intern for PanAsiaBiz studying at the Amity University, Kolkata [B. Tech (biotechnology)]. She is fond of writing on Science, Health, and Biotechnology topics.

Be the first to comment

Leave a Reply

Your email address will not be published.