Saleh Tabakh: Dubai real estate sales posted the best annual start ever in 2023
Saleh Tabakh, an expert in investment portfolio management, said that the year 2022 proved that all times of the year are suitable for real estate investment in the United Arab Emirates, especially in the Emirate of Dubai, whereas it was before limited to certain times of the year depending on changing factors.
“The record sales in Dubai real estate market reflect the great development that the market has reached in terms of various real estate products amid unprecedented activity in luxury real estate sales,” Tabakh, the CEO of Al-Andalus Courtyard Real Estate Developer said. He believes that there is no specific time of the year when the market is in preferable performing conditions.
He revealed that the sector does not suffer bear conditions associated with the holiday seasons or the summer holidays. The harbingers of the new year appeared in the first week of the year, which is usually a bear period, as the sector recorded the best annual start ever, with a sales value of more than Dhs7bn during the first week, which is twice the sales for the same period of last year.
Tabakh believes that real estate is a safe store of value against financial and economic fluctuations, an ideal way to preserve and develop capital in the long term, and the best investment vehicle currently to preserve savings.
The expert pointed out that real estate also represents an opportunity to generate additional income, in addition to the original income, and is considered a type of guaranteed and fixed investment, because it is linked to fixed assets in most cases, which are difficult to dissipate.
“Dubai is one of the most important regions for real estate investment, as it topped the real estate investment destinations in the Middle East, due to the high returns and flexible real estate legislations,” Tabakh said.
He revealed that in previous years, buyers used to seek for good opportunities at ideal times and at an excellent price in a better place and suitable space, and take advantage of the offers that are launched at these times in conjunction with the package of facilities related to the purchase of the property, whether from the government or from the real estate developers.
Saleh Tabakh stressed that real estate transactions in the Emirate of Dubai are still making unprecedented records, and this reflects the success of all parties to the real estate sector, whether government agencies or the private sector.
Tabakh stated that the Dubai real estate market is expected to continue upward trajectory in 2023, as real estate prices and annual rents increase further, so it is preferable for everyone who wants to buy a property or conclude a real estate deal in the emirate, to expedite the investment step.