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His Excellency Sultan Butti Bin Majren, Director General of Dubai Land Department, confirmed that the plans to enhance the capabilities of the real estate sector in Dubai are in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the State Prime Minister and Ruler of Dubai - may God bless him, in line with the broad development aspirations of the emirate, noting the positive impact of the package of legislation and initiatives adopted by His Highness to increase growth and stimulate economic activity in the emirate, including the registration decree and real estate behaviors in the Emirate of Dubai, the law of joint property ownership, and the provision of Long term stay up to 10 years for investors and those with distinguished skills, reducing the cost of doing business and other legislation and initiatives that formed a qualitative step that enhances the attractiveness of real estate investment in the emirate, and supports the rights of investors in the sector.
His Excellency Sultan bin Mejren stressed the importance of the role played by the Supreme Committee for Real Estate Planning in the Emirate of Dubai, headed by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, which works under the guidance of His Highness to enhance planning for the real estate sector in the emirate, and to develop a clear and thoughtful strategy To achieve added value for real estate projects, to increase the level of competitiveness of the sector and confirm its attractiveness. His Excellency said that the committee will have a significant impact on the events of a qualitative shift in consolidating the fundamentals of economic growth, enhancing the performance of the real estate sector, and raising the percentage of its contribution to the growth of the Emirate's GDP.
During an open dialogue within a "session with an official", which is an initiative organized by the media office of the Dubai government on a regular basis, and it hosts senior officials in various sectors, His Excellency Sultan Butti bin Majren, Director General of the Department of Lands and Properties in Dubai exchanged talks with local and international media leaders who They attended the meeting, where his happiness began with a review of important glimpses of the history of the real estate sector in Dubai, and its contribution to supporting the Emirate's economic growth effectively, in a way that has become Dubai with the most attractive investment destination in the world, reviewing the performance of the real estate sector in Dubai for the year 2019, in which it reached Total actions Real estate during which 228 billion dirhams.
His Excellency said about the Emirate's economic growth expectations, that Dubai is a global model in the real estate field and the plans of the department follow the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, and in line with the broad development aspirations of the emirate, pointing out that the real estate sector today is more powerful today, and has proven special efficiency With the approaching date of the launch of the Expo 2020 Dubai exhibition, in light of the economic incentives, and the formulation of the future vision for the Emirates and the “Emirates Vision 2021” and the year of preparation for its fifty years, and pursuant to the economic vision formulated by His Highness Sheikh Mohammed bin Rashid Al Maktoum, within the “eight principles” and Document Fifty and Document 4 Nair's 2020 "Declaration of Dubai's historic budget for the current year, which would have a positive impact occur on many economic sectors in the emirate, and the most important of the real estate sector.
Sultan bin Mejren pointed out that "Expo 2020 Dubai" will contribute to a significant increase in capital flows to the Emirate of Dubai, thanks to Dubai's investments in infrastructure projects and preparations in preparation for hosting the exhibition, noting that the exhibition is expected to contribute to the added value of the Dubai economy during the period. From 2013 to 2031, with more than 122 billion dirhams, in addition to new job opportunities and direct and indirect investments expected to be added to its economy, which will greatly affect the real estate sector in terms of investments and new products.
Ambitious indicators to increase real estate growth
On the indicators of the real estate sector and confirming its attractiveness, His Excellency the Director General of the Department of Lands and Properties in Dubai said that the real estate sector in the year 2019 witnessed a huge and vital development in the public performance, pointing out that the volume of foreign direct investments that Dubai Real Estate pumped in 2018 amounted to 90.5 billion dirhams, while The volume of investments in the year 2019 reached 106 billion dirhams, and the total real estate transactions in the emirate rose to 228 billion dirhams in the year 2019, compared to the year 2018, which recorded 221 billion dirhams. His Excellency noted that real estate investments for women only in Dubai in 2019 amounted to 27.5 billion dirhams, recording an increase of 6.5 billion dirhams compared to 2018
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