Umar Farooq Zahoor Analyses on Dubai Real Estate Market
We have heard the news that the retail, as well as tourism sectors of the United Arab Emirates, get a boost by the agreement of Gulf-Qatar.
According to the observations of Umar Farooq Zahoor, the deal of getting back Qatar in the GCC family will give a strong boost to the real estate sector that will become a major game-changer and winner. The industrial experts are too agreed with the statement and observance as done by the Umar Farooq. While signing it with Qatar, the UAE organized a meeting of South Arabia, Egypt, and Bahrain during the Gulf Cooperation Council Summit (GCC) and put a halt to the 3.5 years split among these nations.
Umar Farooq Zahoor, an investor based in the UAE, has said that the Qatar agreement is a great and beneficial investment that includes all nations internationally and the removal of limitations on free capital flow would be highly optimistic to the regional marketplace.
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In addition to this, the business based in the UAE has a long tradition of running their enterprises in Qatar and thus, a rapprochement ought to be found to beneficial here as well. According to the facts and figures from Dubai Land Dept, the transactions from the year 2016 exceeded AED 90 billion from the 60K investors. It involves around a thousand investors belongs to Qatar buying a property in the emirate.
Sheikh Umar Farooq Zahoor said that the immediate impact would rely on how rapidly the rules of ownership get re-instated and the restoration of relations with Qatar will be done, that is one of the leading investors in real estate that welcomes development directly.
The restoration of relations with Qatar will help the United Arab Emirates to recover their retail as well as hotel sectors, with a lot of tourists belongs to Qatar. Umar did deep research and said that the relations between Qatar and Emirates are more likely to boost the economic as well as political ties that have a great impact on the real estate sector of the UAE. Before the ties back in 2016, Qatar is the top-class investor of the Dubai residential market and all the investors are too active from the same.
While we are not likely to see the return of the Qatari investors to such a position too drastically, we can expect that the volume of investment will gradually increase in the coming year.
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Sheikh Umar Farooq Zahoor 