17/01/2023
Despite rumours in the market that certain developers aren't delivering here are some actual facts to show that they are. Damac lead the way with a total of 9,243 delivered units followed closely by Emaar with 8,241 delivered units in 2022.
The regulations introduced by the Real Estate Regulatory Agency (RERA) have made investor funds much safer and incentivised developers to deliver on time. With these laws it becomes less likely that investors are faced with significant delays in handover.
It is construction, however, and sometimes inevitable that small delays will occur. Overall, the impact that this has on your investment is minimal. The value gained from investing in off-plan usually offsets minor bumps in the road caused by things such as delays.
With so many anticipated launches for 2023 it seems apparent that the next few years will continue to see a boom in the Dubai real estate sector. Put it this way if as per RERA law a developer must have a a specific percentage of the construction costs prior to selling off-plan projects in combination with the number of units sold the financial stability of the developers is strong.
This can only lead to one thing... more GROWTH! I believe despite the global financial markets impact Dubai will continue to grow. Maybe the pace may be affected but overall growth seems clear with the data we have in front of us.
So no need for the scaremongering and pessimism. Dubai is strong and will continue to rise and grow in the face of adversity. After-all, since when has Dubai ushered away from a bit of a challenge?