Dubai Property Festival stimulates sales and purchases in real estate market

DUBAI, 26th March, 2018 (WAM) -- Dubai Land Department (DLD) has confirmed that the Dubai Property Festival (DPF), which will be held from 9th to 11th April at the Dubai World Trade Centre, will contribute to stimulating sales and purchases in the Emirate’s real estate market. DPF coincides with a series of other international events aimed at attracting investment in the UAE. The event is expected to boost buying and selling activities among a large number of developers, brokers, banks, mortgage providers and financial institutions, and home buyers. The festival is being organised by DLD through its investment arm, the Real Estate Investment Management and Promotion Centre, in partnership with International Property Show (IPS). It is part of DLD’s ongoing efforts to support the real estate sector and create a win-win situation for all stakeholders in the property development industry, including developers, brokers, buyers, investors and mortgage providers. The festival will be part of ‘Real Estate Investment Week’, which will feature a number of events promoting real estate investment and gather investors from different countries to discuss ways to boost investment. Sultan Butti bin Mejren, Director-General of DLD said: "Dubai’s real estate sector is strong and the Emirate has unique assets to attract foreign capital in this sector including a high return on investment, which strengthens investor confidence. By creating a secure and welcoming environment for real estate investment, which involves protecting investor rights through escrow accounts, we help foreigners to benefit from flexible payment plans and more attractive investment offers in the real estate sector." The average return on investment achieved on apartments in Dubai last year was 7%, while villas made 5%. This was achieved despite an overall softening of rent and sales prices, according to research from Bayut.com, a Dubai-based online property listing site, based on 94,000 listings posted on the site between November 2016 and November 2017.