Expert Advice: All about foreign investment in Dubai with Mohamed Hareb Al Falahi
The UAE’s exciting property market attracts attention from sellers, buyers and tenants, who are keen to understand the evolving trends in the region’s real estate landscape. At Bayut, we regularly engage with our industry partners to bring you expert opinions on all the trending developments in the country’s property market. For our most recent episode of Expert Advice, we sat down with Mohamed Hareb Al Falahi, the Founder and General Manager of Royal Liwan Real Estate L.L.C to discuss how COVID-19 has impacted foreign investment in Dubai. Mohamed also discussed the current trends in the market for foreign real estate investors in Dubai.
The interview dealt with numerous questions on how the market will perform post the pandemic as well as it’s effects on the foreign investment in Dubai’s property market., Watch the complete video interview with Mohamed Hareb Al Falahi here.
Here are the highlights of the topics discussed in our Expert Advice segment with Mohamed Hareb Al Falahi.
DUBAI REAL ESTATE MARKET POST PANDEMIC
Mohamed opened the session by discussing the changes in the market as a result of the UAE’s COVID-19 restrictions as well as its impact on foreign investment in Dubai.
He explained that when the restrictions were initially imposed, the market predictably slowed down, as users and agents needed time to adjust to the new, unprecedented situation. However, as soon as the restrictions were lifted, the market also gradually picked up and began showing signs of improvement.
Mohamed confirmed that there have been progressive improvements in the number of real estate transactions recently, which points to positive signs of recovery and renewed investor confidence in the market. Mohamed believes this positive shift will further encourage foreign investment in Dubai.
FOREIGN INVESTMENT IN DUBAI
Mohamed also spoke about the various avenues the government has introduced over the years to encourage foreign investment in Dubai’s real estate sector.
One of the major moves, in his opinion, was the introduction of the 100% property ownership across the freehold areas in Dubai, which has made the city a global investment hub over the years. He also spoke about the Dubai investor visa and the UAE long-term visas which further encourages foreign investment in Dubai.
“We should also not forget the smart services provided by Dubai Smart Government, which has made it easy for every resident to complete various government procedures from the safety and comfort of their homes through these well-developed apps,” he added.
When asked about which areas are popular with foreign investors, Mohamed explained that neighbourhoods with gorgeous waterfront views are in high demand. “Dubai has many exciting projects including Dubai Marina, JBR, and Bluewaters Island Meraas, which are popular with tourists and offer a good investment opportunity. They also offer a healthy return on investment with ROI generally being around 8%,” he added.
ADVICE FOR FOREIGN INVESTORS IN DUBAI
Concluding the session, Mohamed shared his expert opinions for first-time investors looking to invest in the real estate market in Dubai. He said: “I believe that patience and optimism are the main characteristics of any successful investor. It’s important to remember that opportunities are created even during difficult times, so we need to look for opportunities even now.”
Mohamed further referenced a comment His Highness Sheikh Mohammed Bin Rashid Al Maktoum’s made when speaking about the challenging situation in 2008, which urged people to stay positive. Mohamed says investors should follow H.H. Sheikh Mohammed’s advice and have confidence that the economy will recover very soon.
Keen to make an investment in Dubai’s property sector? Take a look at our Dubai market report for H1 2020 to discover the most popular residential areas in the emirate as well as the average property prices for apartments and villas.
ABOUT MOHAMED HAREB AL FALAHI
Mohamed Hareb Al Falahi is the Founder and General Manager of Royal Liwan Real Estate. The enthusiastic entrepreneur who is known for his passion for real estate began his career in 1993. Now he runs a leading real estate company in Dubai and is a respected expert behind many innovative initiatives in the UAE real estate sector.
ABOUT ROYAL LIWAN REAL ESTATE
Royal Liwan Real Estate is amongst the leading real estate agencies in Dubai, which assists buyers, sellers and tenants interested in commercial and residential real estate. This agency possesses a team of professionals agents that can handle any property related request.
If you want to browse through their available properties, check out the listings from Royal Liwan Real Estate on Bayut.
The views expressed in this article belong to the interviewee alone and does not reflect the opinions of Bayut.
