According to the Dubai Land Department, the growing demand for commercial real estate increased the total value of sales by 89% and the number of units sold by 38% compared to the previous year. What were the prerequisites for such rapid growth?
Dubai's retail real estate sector is experiencing post-pandemic growth as a result of government measures to stimulate economic activity. In addition, the government is actively exploring other policy measures that will have a positive and long-term impact on the real estate market.
Recent state efforts include the following:
- Development of a master plan until 2040;
- New law regulating Musataha rights to commercial lands;
- New Decree on real estate investment funds;
- Reduction of fuel surcharges for electricity and water for all centralized cooling companies;
- Fixing the rent for 3 years and replacing checks with online payments.
These factors will help strengthen the emirate's status as a global entry point for real estate investment and attract more multinational enterprises. All of the above will certainly boost the influx of multinational companies to the emirate.
