Realopedia presents Dubai real estate sector’s growth in 2017 as foreign investors account for USD 11.7 billion property investments
UAE, October 31, 2017 – Dubai real estate market’s continuing growth story has been featured in an international briefing of global real estate markets at the Miami International Real Estate Congress, organized by the Miami Association of Realtors. Top executives from Realopedia, the global real estate e-marketplace established in Dubai, presented a market briefing at the event, an annual gathering of real estate professionals across the United States and worldwide.
Wally Gebara, Associate VP of Realopedia for North America and Paul Gebara, Director of Marketing and Business Development of Realopedia, highlighted the sector’s key growth areas, noting that foreign investors accounted for most of real estate investments in the emirate during the first nine months of 2017, amounting to USD 11.7 billion (AED 43 billion) from a total of 22, 667 transactions, based on official data.
Paul Gebara said: “Miami has one of the most established property markets in the world and it is important that emerging markets such as Dubai maintain its presence in these types of congregations given the emirate’s attractiveness to foreign investors. Dubai’s property market continues to be an attractive investment haven as the data speaks for itself – recording a total of USD 41 billion deals between January 2016 and June 2017 from about 217 nationalities.”
With Dubai looking forward to hosting Expo 2020, Paul Gebara highlighted the ongoing activities and preparations in the run-up to the global event. Demand for properties in the emirate is expected to soar to meet visitors and businesses’ needs during the six-month trade fair. The central business districts and luxury offerings drew sales the most during the first nine months of the year, with Burj Khalifa leading in the transactions, reveals data from the Dubai Land Department. The Realopedia Team will also head to the annual conference of National Association of Realtors in Chicago.
Realopedia leverages the power of digital technology to bring together industry specialists under a single platform to expand the reach of all real estate stakeholders. The company has established partnerships in major real estate markets worldwide and key offices in the UAE, the US, and the UK. The company also recently completed its application on Android to provide its customers with a user-friendly platform for networking in one tap. The mobile app will soon be launched in iOS.