The real
estate market in Dubai is thriving with its new and ambitious projects, and
constantly pushing the development to greater peaks. luxury homes & real estate in Dubai is
a mark of esteemed architecture and design that grants an iconic boundary to
the city. In spite of dramatic ups and downs in the sector, Dubai real estate developer with
their forward thinking have created a profound effect in the growth of the
sector.
However, in this era of real estate
development, it still faces some challenges which work as a hurdle in
positioning Dubai Real Estate Developer in
being the best. The demand is increasing, but supply is increasing at a much
greater level, which makes the prices slip. The change in oil and gas prices
also affects the sector and pushes economy to slow down. When everyone is keen
to own luxury homes & real estate in
Dubai, it restricts the prospect of business for the
developers in the real estate business.
During the year 1980, the city began to
rise and expand; construction of Al Shindagha Tunnel, bridges, and new roads
had contributed to the development of the city. The real estate market of Dubai
was first affected by the 2008-09 crises, and it was during this time that the
sector lost significance. The restructuring in continuous phases, since then,
has dragged a lot of banks in serious debts which are a burden on the economy.
This also forced Dubai real estate developers and investors to work
with extra caution, the rules and regulation having made, much stronger. This
not only affects developers, but buyers of luxury homes & real estate Dubai as
well.
RERA has been watching and governing the
market very closely, price movement is under observation now. But, despite
these challenges Dubai real estate market strives towards a record growth.
Reforms, if executed properly, will totally transform the face of real estate developers in Dubai.
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