As per a latest industry projection by real estate brokerage firm W Capital, new projects worth AED 1 trillion (USD 272.29 billion) will be launched or developed in Dubai within the next five years, in response to the continued population growth in the largest Emirati city. Apart from the projects bringing an influx of foreign investments, there will be further announcements of mega-projects by leading real estate developers.
Walid Al Zarooni, W Capital Real Estate CEO, told TradeArabia that Emaar Properties’ announcement of its new AED 200 billion development project in the heart of Dubai clearly indicates that the market is moving towards a new phase of urban and investment expansion, reinforcing expectations of continued mega-project launches in the future.
“W Capital’s estimates are based on projects announced by major real estate developers, project launch rates over the past years, and development plans linked to Dubai’s economic agenda and the emirate’s ‘D33’ population and urban growth targets, which support continued demand for various types of real estate assets,” Al Zarooni stated further.
As per Al Zarooni, Dubai’s real estate market is witnessing a qualitative shift in the nature of projects offered. It is no longer limited to traditional residential complexes but now includes integrated cities, mixed-use projects, business centers, and community projects that rely on the latest sustainability concepts and smart infrastructure, reflecting the evolving needs of both investors and residents.
“The rapid population growth and the attraction of talent, entrepreneurs, and investors from around the world constitute one of the most prominent drivers of real estate demand, whether for residential units, office spaces, or hotels. This provides developers with a clearer vision for expansion and launching new long-term projects,” he remarked further.
As per Al Zarooni, Dubai’s sophisticated legislative environment, advanced infrastructure, economic stability, and the resilience of its economy have solidified the city’s position as one of the world’s most attractive real estate markets, enabling it to attract capital and long-term investments even amidst the ongoing economic and geopolitical challenges.
“Major infrastructure projects and plans to develop transportation and service networks will create additional momentum for the real estate sector in the coming years, opening the door to the development of new urban areas and diverse investment opportunities. Dubai possesses the necessary elements to continue leading real estate growth in the region. The mega-projects currently being announced reflect the confidence of developers and investors in the emirate’s future and represent the beginning of a new phase of urban expansion expected to add projects with a total value exceeding one trillion dirhams over the next five years,” Al Zarooni concluded.
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