I hope you have had a wonderful week and for all of those celebrating, Track Capital would like to wish you a blessed Eid-Al-Adha.
If you are considering Dubai property investment, there has never been a better time than right now. With hefty growth already driving prices up since the city’s impressive recovery began last year, there are still plenty of below-market-value properties to choose from.
Reply to this post today for the best off-market Dubai deals and exclusive incentives.
Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.
Remember, you can also listen to this week’s newsletter on the podcast as well.
We would really appreciate it if you could subscribe and leave feedback for our Podcast on Apple.
Property Headlines This Week
- Dubai Business Conditions Quickens Pace to Three-Year High – A recent survey published by S&P Global revealed that the non-oil economy of Dubai underwent a sustained burst of expansion in June this year.
The Dubai Purchasing Managers’ Index gained 0.4 points in May, rising to the highest score since June 2019. Evidencing economic strength and heightened business activity, the Dubai PMI continued on its upward momentum throughout June. Although this is all excellent news, there are growing challenges for the government and businesses to head off the rising inflationary pressure that is already crippling other areas across the world. It is true that Dubai hasn’t fallen victim to this issue as much as other places, but nevertheless, the government is taking proactive measures to support citizens who are on a lower income and stockpile essential goods.
- Rental Disputes Center Greatly Improves Real Estate Infrastructure –
A new range of e-services for the management of the Execution of Judgements Department has recently been launched by The Rental Disputes Center (RDC), which operates as the judicial arm of the DLD. The services have been implemented to develop executive procedures and analyse performances through state-of-the-art technology and modernised smart systems. These changes will improve and enhance work mechanisms. Some examples of the new e-services offered include connecting RDC’s e-system to Dubai Police’s system, processing electronic enquiries and generating automatic disbursements. They also work to appoint experts, refresh data automatically, and request instalments. It is hoped that by adopting a faster and more simplified mechanism, the real estate rental sector will benefit from more stability which will support sustainable development for the whole city.
- Wealthy Indian Expat Professionals Now Flocking to Dubai – The chief executive officer of leading real estate consultancy firm Anarock recently spoke to Arabian Business about the large influx of Indian professionals now hunting for residential properties in Dubai. These professionals come from all over the world, although many appear to be based in Singapore and London, and their search has focused heavily on villas and townhouses located in Arabian Ranches, Dubai Land and Meydan. There are several factors driving this emerging trend, with lowered prices and Dubai’s easy travel time to India being prime reasons. Indian investors are also drawn to the favourable tax conditions and long-term visa options that offer excellent opportunities for a wide range of ex-pat professionals.
That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected] – if not, see you next week.