11/11/2021
‘Dubai Are Pandemic Pace-Setters’
For the majority of countries, Covid-19 has grinded their economies to a resounding halt, with quarantines and lockdowns only pausing for a brief interval before returning as soon as they had eased.
Where many have stuttered, Dubai has seen an opportunity, positioning itself as a global tourism hub, and a trendsetter with its post-pandemic economic recovery. Though mask-wearing and social-distancing measures are strictly adhered to, Dubai has managed to fling its doors wide open, and an impatient populace has flocked to its glamourous shores to escape quarantine into a relatively ‘new normal’.
Considering that most year-round destinations are now off the table; no skiing, no exotic sun-soaked resorts - Dubai is currently the only tangible destination for the world’s wealthy to bestow their money upon. At the beginning of the year, Emirates Airlines was already back up to three-quarters of its capacity, ferrying wealthy international customers to the Persian Gulf. They are set to steamroll back up to full capacity and beyond as the world begins to open up.
All of this stimulation has meant that Dubai’s expansion plans in the construction, tourism, and international business sectors have not slowed down. Dubai’s efforts to become the global hub of business have in fact been accelerated as a result of Covid-19, and the country is poised to flourish due to a wealth of savvy international investors finding a safe, seemingly pandemic-proof economy to divert their money into.
‘The Residential Property Sector is Sky Rocketing’
If the 2020 Global Real Estate Transparency Index, or ‘GRETI’ for short, is anything to go by (and it is), then the UAE is looking like one of the hottest real estate opportunities of 2021. The main reason for the attractiveness is the ‘excellent’ affordability in an already strongly positioned market. As more expats and foreign investors seek to make Dubai a home for not just their money but for themselves, the rate of homes being sold has hit an eleven-year high in 2021’s first quarter. Real estate sales were an impressive DH18.5 billion ($5.4 billion), up 13.5% on the previous quarter. The average transaction size for the sale of a property in Dubai also rose 4.55%. Favorable lending rates are helping to drive this strong initial growth in 2021.
What is important to remember is that Dubai’s property prices are still extremely affordable considering the fast recovery of the sector. The reason for this is that prices had been heavily squeezed due to an oil price shake-up beginning in 2014, the pandemic then exasperated the issue greatly, but Dubai did extremely well to pivot in order to take advantage.
All of this makes very attractive reading, but this is a time-sensitive opportunity. The earlier that investors get into this market, the lower the initial investment will be, and the more substantial the likely returns, especially given that Dubai is spearheading a global economic recovery that is projected to last for years to come.
Alpha Alternatives is offering exclusive, turn-key, fixed-rate investment opportunities for qualifying parties. If you are interested in discussing an Alpha opportunity in Dubai, follow the link below to our site. Our dedicated onboarding team will walk you through the investment requirements and procedure.
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