The recently announced end to the regional conflict helped Dubai focus on its priorities and emerge stronger, according to comments released today by Kashif Ansari, Cofounder and Group CEO of global proptech group Juwai IQI.

 

Mr Ansari said, “The UAE has displayed incredible resilience over these past few months. Real estate slowed but was stable, and capital stayed in place.

 

“Sheikh Mohammed bin Rashid Al Maktoum wrote that challenges make the men who build nations. Dubai has certainly lived through some challenges over the past three months. And the emirate has used the opportunity to recommit itself to its long-term goals of becoming one of the world’s leading business hubs.

 

“You can see the renewed focus and confidence most clearly in the areas of infrastructure, finance, and real estate.

 

“Nowhere has Dubai’s relentless focus on the future been more apparent than in infrastructure,” said Mr Ansari. Continued work has kept the new Al Maktoum International Airport on track to open its doors to passengers in 2032 and eventually handle more than 29,000 passengers per hour.

 

“Other big infrastructure that has made rapid progress over the past three months includes a Dhs 750 million major road and tunnel project to better link Sharjah. The new 1.5-kilometre bridge to Dubai Harbour that will slash travel times by 75% should be open by next month.

 

“Capital is often the first to retreat when conflict appears. ,” said Mr Ansari, “but in Dubai the opposite took place. Instead of declining, the number of financial firms setting up at the Dubai International Financial Centre surged by 62%. Senior executives at Citi, Julius Baer, and Standard Chartered all said the conflict reinforced why they chose Dubai in the first place. 

 

“Real estate is a sector where Dubai’s resilience has been visible in bricks and mortar. Some outsiders predicted the property market would crumble. But now, having made it  through this test successfully, the result is that homeowners, developers, and policymakers have more confidence than before the conflict. 

 

“Dubai needs to keep building to accommodate its role as the world’s hub. 

“One clear sign of confidence in Dubai’s future comes from the buyers . They closed on the first day after the US-Iranian truce.

 

“Juwai IQI operates in 35 markets around the world, and when I compare it to its global peers, I see clearly how exceptional Dubai’s performance over the past three-plus months has been. The emirate has come out the other side stronger, more confident, and more determined.”