Executive Realty Real Estate LLC plans to invest $50mln in Dubai

Dubai,United Arab Emirates -- Dubai has become the preferred city in the world for investors and innovators, said Shaikha Jawaher Al Khalifa, Chairperson Green Aventurine Holding LLC FZ

The reasons behind this are related to the city’s unique characteristics, the most important of which are — a distinguished economy, convergence and coexistence of diverse cultures within the city, the availability of the most advanced digital and modern technologies, a state-of the-art infrastructure, security and safety, and the foundations for a luxurious life.

Dubai’s residential market showed a 43.8 percent increase from the previous year, also making it the highest February figure

I recently had the pleasure of exchanging ideas with a number of investors and entrepreneurs anxious about a potential recession in the West. Investment concerns have also been voiced in relation to Dubai, giving rise to doubts in the minds of many.

My conversations with these stakeholders have prompted me to conduct extensive deliberations so that we could set the record straight.

While some economists’ projections make sense from a global perspective, Dubai’s real estate figures do not reflect the same sentiment. In fact, the evidence suggests that the city’s real estate industry has been thriving—properties continue to be red-hot and investments are on the rise.

Average apartment prices rose by 11.2 percent, whereas average villa prices grew by 13.6 percent. In February 2023, the report also noted that the average apartment prices in Dubai reach AED1,211 per square foot, whereas prices for villas reached AED1,432 per square foot on an average. These average rates still sit below the highs witnessed in late 2014, with apartments and villas remaining 18.6 percent and 0.9 percent below this peak respectively, the report said, adding that many communities have already surpassed 2014 figures. Apartments in Jumeirah saw the highest sales per square foot reaching AED2,388. As for villas, Palm Jumeirah registered the highest sales per square foot, reaching AED4,300.

Dubai’s rental market

Palm Jumeirah also recorded the highest rental rates for both apartments and villas, with average annual rents reaching AED260,467 and AED1,017,614, respectively, as of February 2023, the report said.

“We have seen rental rates growing by an average of 27.7 percent in the year through February 2023. As a result, we have seen that tenants are more likely to renew their existing leases; where based on Ejari figures, the number of new registrations year-on-year in the year to date to February 2023 has decreased by 13.0 percent, whilst the number of renewals has grown by 30.7 percent”

A ‘recession proof’ city

Despite anxieties surrounding a potential global recession, one anomaly stands out: Dubai. This incredibly prosperous city appears to be recession-proof, having been largely insulated from the economic turmoil that has affected other parts of the world in recent times. With exciting development and infrastructure -

projects in the works such as District 2020 and Palm Jebel Ali, and ever-expanding opportunities for foreign investment and employment, Dubai continues to attract attention even in financially uncertain times.

Far from being hindered by economic hardship, it is plainly testament to its resilience that Dubai ranks amongst the most vibrant, dynamic cities when international economies are in decline.

Record company formations

Since the announcement of full ownership rights for international companies in Dubai, the number of company formations has skyrocketed. This is only natural, as the city offers a favorable climate for operating a business and an attractive financial incentive package.

With much lower taxes than in other cities, a wide range of options for incorporation and investment vehicles, world-class infrastructure and strong government support for international business initiatives, it’s easy to understand why there has been such an observable uptick in corporate registrations.

Major developers out of stock

The real estate market is seeing an unexpected surge in demand—even to a degree that has caught major developers off guard. The UAE’s real estate sector is in a state of flux as major developers find themselves running out of stock. This is a trend that has been gathering pace over the past year or so. With no inventory left and prices going up on the secondary market, it looks like this surge will be more than just a short-term trend.

Executive Realty Real Estate, founded in 2013 by Shahzad Faisal, and now part of Green Aventurine Holding LLC FZ,a conglomerate led by Chairperson Shaikha Jawaher Al Khalifa. Executive Realty Real Estate is a leading property investment specialist. The company have been focused on sourcing and offering the best real estate opportunities from around the globe since 2013. More than 5000 properties have been sold to investors in over 40 countries. The company have developed a reputation for an investment property that delivers on returns, location, and quality.

Media Contact:
Name: Krishna Deloritos
Website: www.executiverealty.ae
E-mail: Hello@greenaven.com

Press Release Distributed by The Express Wire

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