Expo 2020 Delay Catalyst for Dubai Realty
The real estate industry is a key pillar of the UAE economy, and it has been going through a correction phase in recent years due to the widening gap between supply and demand. The delay of Expo 2020 could be a positive catalyst for the real estate industry, as it will help attract investors for
Published -
Jul 1, 2020 4:39 AM
The real estate industry is a key pillar of the UAE economy, and it has been going through a correction phase in recent years due to the widening gap between supply and demand. The delay of Expo 2020 could be a positive catalyst for the real estate industry, as it will help attract investors for ready residential units in the market. Developers have held on new projects and slowed down the pace of work on existing developments so they will be able to market existing stock to potential buyers ahead of the six-month long mega event, which is expected to attract 25 million people across the world. The UAE real estate market is suffering from an oversupply, with more projects nearing completion, so the delay in World Expo, could help to resolve this key issue by affording more time for developers to sell their residential and commercial units, as prices become more affordable. Even though the UAE economy is facing a significant challenge, the real estate market will continue to mature. Given the long-term nature of the investment that real estate has always had, the market is going to survive and growth will come back.
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