Now is a good time to invest in Dubai property

Dubai / Emirates Business

The MENA region’s leading diversified real estate and property services company says Dubai is well on the way to a strong market recovery and that now is a good time to invest.
Robert Welanetz, Chief Executive Officer of Majid Al Futtaim – Properties, the UAE-based developer of shopping malls, hotels and mixed-use living communities across the region, believes Dubai’s position as a world-class business and investment hub will drive the real estate revival.
That is the positive message that Welanetz will deliver to real estate industry professionals assembling in Dubai in September for the Cityscape Global Conference taking place as part of the Middle East’s top real estate event.
Looking ahead to Cityscape Global today he said: “We expect the ‘soft’ retail market will continue through the end of 2016 and will start to rebound in late 2017 driven by continued large scale investments in tourism and retail infrastructure in Dubai, plus increased diversification initiatives from the government.
“Expo 2020 Dubai is expected to impact the rate of job creation, which will positively impact both sales and retail markets in the long term across the UAE. Looking around the region, we also expect countries with the largest populations to witness growth, primarily to meet the needs of their maturing populations.”
Sending a clear message to investors still looking cautiously at the Dubai market, he said: “We strongly believe in the long term growth prospects of Dubai and the UAE. Dubai’s real estate market is characterised by strong fundamentals, making it the most preferred investment destination in the Middle East. The slowdown provides ample opportunities to drive extra value in investments.”
Welanetz will be one of the expert panelists appearing at the Cityscape Global Conference taking place at the Conrad Hotel, Dubai on 5 September ahead of the three-day Cityscape Global exhibition opening the following day at Dubai World Trade Centre.
He will discuss with delegates how Dubai has solidified its position as a Middle East investment magnet, and that this will continue to strengthen as the market matures and more investment grade assets materialise.
“Dubai’s attraction stems from its ability to offer a world class business environment and infrastructure that is unmatched anywhere else in the Middle East,” said Welanetz.