Costs of infrastructure projects in UAE anticipated to increase in 2017

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Costs of infrastructure projects in UAE anticipated to increase in 2017

Costs of infrastructure projects in UAE anticipated to increase in 2017

The city of Dubai will continue to be the least at risk with regards to potential market challenge because of the present investments made.

Key investment projects on industrialized infrastructures introduced as of late by the government of United Arab Emirates are anticipated to drive the expenditures this 2017, as per report of Knight Frank.

The said report from Dubai based Arabic Language Al-Bayan newspaper last Saturday stated that the economy of the city will continue to be least vulnerable to possible economic crises as a result of the present ventures created in anticipation for Expo 2020.

Investments in today’s tourism and real estate sector are also anticipated to further strengthen the market and the prime development and infrastructure projects, which includes Dubai Industrial City, Khalifa Industrial Zone Abu Dhabi, Dubai Industrial City, Dubai South as well as the extension of Dubai Airport Freezone Authority (DAFZZA).

Considering the number of population in UAE to increase by more than 3million this year, a rise in demand will drive further the property industry as well as the other emirates.

Market specialists in the city’s real estate sector have common positive views with regards to Dubai’s property market, anticipating a constant increase in trend on the way to 2020.

During the first quarter, the chairman of Properties Investment as well as managing director & Chief Executive Officer of Dubai Investments, Khalid Bin Kalban stated that he is certain that the real estate market in Dubai has bottomed-out as a positive response from investors remains to improve.

He further asserts that there are many good signs that the market is going on an upward trend, specifically with major infra projects intended for Expo 2020 in addition to other big developments fully on the go.

Dr. Rashid Abdulla Al Hajj, Gen. Mgr. of Properties Investment in Dubai concurs, and reasons that he does not believe that the market is in oversupply at the moment.

Even if the general public is much cautious, today is the best chance to invest and secure a property as the market will continuously improve in the next 4 years.

 

Mohamed Dekkak

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