Dubai real estate to see big boom on the back of Expo 2020
New Delhi [India], June 13 (ANI/NewsVoir): Last few months have seen increased movement of people to Dubai, because of the way the authorities have controlled the pandemic there.
The city is even witnessing an increasing number of investors from India expressing interest in coming and opening their business in the city, or to purchase their choicest property there.
Danube Group, the Dubai-based multi-billion dollar conglomerate, is in the meanwhile, very upbeat about the upcoming Expo 2020 in the city.
Low interest and mortgage rates, a highly effective COVID-19 vaccination drive, and new visa rules for investors introduced by the UAE authorities present the much favourable scenario for anyone keen to live, work or trade in Dubai.
For the people going to Dubai for investment or to buy a property there, Danube Group presents an excellent opportunity to choose from the choicest range of options offered by it. According to Danube Group, not just investors from India but a lot of European and Chinese expats are looking to purchase property in Dubai.
Dubai would continue to be a city that enjoyed the confidence of global investors. The emirate had proven itself to be resilient in the face of several challenges that have gripped the global economy time and time again. In addition, the way that the COVID-19 crisis has been handled by the Emirate sends out a strong message to the world that Dubai continues to be a flourishing hub of business.
Rizwan Sajan, Chairman and Founder of Danube Group said, "Expo 2020 is going to usher in a big boom for Dubai. If you look at what has happened over the past two to three months, you will see that real estate prices have gone up again. This means that developers will be eager to start constructing new apartments and villas. We are blessed, especially when you look at all the policies that the government has been coming up with, such as the Golden Visa and the 100 per cent ownership laws, to make expats feel like they are at home. All of these policies will definitely help to build confidence in investors that are interested in setting up their businesses here." He also dwelt upon the best time to invest in property in the emirate: "I can say that we will see a big real estate boom coming in the near future. I keep telling people that the time to buy property is now because later you will not get the same prices that you are seeing in the market at present. Interest rates right now are very low just like the property prices and even the mortgage rates are extremely attractive."
"We have seen this trend - where the prices have gone up by more than 50 per cent in the building materials segment - after many years. We are trying our best to get materials because of the huge demand that we are seeing for Expo 2020 Dubai; lots of projects have to be completed before the event opens its doors. However, I believe that there will be no problem in Dubai as far as the construction industry is concerned," added Sajan. "Many companies that had laid off their employees are looking to rehire their staff. So, business is getting back to usual. I also believe that the supply of new units will remain balanced in the near-term," he said.
Even though property prices over the past six months have gone up by 30-35 per cent, property in Dubai is still cheaper compared to many other major international hubs such as Hong Kong and London. While villa prices have gone up, and will continue to do so in the coming months, apartment prices are still low and make for an attractive investment. The luxury property market in Dubai has already started recovering, and the affordable property market will follow. The demand is more due to the consumption in the US and Europe.
Established in the year 1993, Danube Group was founded and cultivated under the leadership of Rizwan Sajan, who is known to be the Founder and Chairman of the Group. Starting off as a small trading firm, the company is moving from strength-to-strength, expanding its foothold in the region, and has established itself as the No. 1 building materials company along with other branches under its vast umbrella.
In 2019, the company recorded a turnover of USD 1.3 billion and has been growing ever since. Moreover, Rizwan Sajan was ranked 12th among the 'Top 100 Indian leaders in the UAE' List by Forbes Middle East. As one of the largest suppliers in the region, Danube Group's operations are dominated by two main segments - Building Materials FZCO and Danube Home (Home Interior/Decor Solutions), which brings together a variety of state-of-the-art products available at showrooms strewn across the MENA region.
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