If in 2021 and 2022 demand for Dubai property had a boost from ‘external’ factors, in 2023, it will be about internal dynamics. And then there is the Golden Visa program. Image Credit: AP
Back when 2021 was drawing to a close, I would boldly claim that 2022 was going to be the best year ever for real estate. Several record-breaking transactions later, here we stand, looking back at a buoyant 2022.
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Not only was it a phenomenal 12 months for the city, but on a smaller scale, we have had numerous personal and professional successes as a company. There have been many editorials about Dubai’s sharp economic recovery in a post-Covid landscape due to a well-managed – and implemented – response from the government.
A Dubai strategy that clicked
It’s something that bears repeating, as that created the foundation off which the city could build its current success. By highlighting a sense of personal safety and security in a world where uncertainty was the order of the day, Dubai sent a clear message – this is the place to be. Expo 2020, which was delayed by a year because of the pandemic, was able to generate even more hype as a result, ensuring that both the end of 2021 and the start of 2022 were incredibly strong.
And thanks to the FIFA World Cup in Qatar, there has been a tremendous level