As per the saying, necessity is the mother of invention, and so it is with the COVID-19 pandemic, which has provided Dubai with a platform to increase their attempts to usher in the economy through aggressive governmental steps and digital innovations from the startups to multinational corporations. This has resulted in boosting demand for real estate in the emirate and driving up capital prices for premium properties.
According to reports, Dubai ranks among the top 15 worldwide cities with positive capital value growth for premium residential properties in the first half of 2021. Dubai’s capital values grew by 4.2 percent as a result of the work-from-home boom and the resulting increased demand for space.
Numerous properties in many cities were totally shut down during the lockdown because of the pandemic, which increased the severity of the sluggish growth. Over the last six months, not all cities did equally well. For the first half of the year, over 70% of the locations showed positive capital value increases, with Dubai leading large cities.
Demand has been spurred by people upgrading to larger houses with outdoor facilities in the midst of an increase in remote working. Economic assistance and government efforts, such as residency permits for retirees, remote employees, the 10-year golden visa programmes along with relaxation of international travel restrictions and increasing vaccination rates are projected to improve investor confidence and demand. Adding to that, strong transaction activity resulted from the availability of good quality stock, low loan rates, and relatively inexpensive real estate prices, which drove capital values higher across premium assets.
Despite the pandemic’s continuing uncertainty, in the second quarter of 2021, Dubai’s premium residential market saw a 43.8 percent increase in sales volume, while total property prices in Dubai climbed 15% in July alone.
The pandemic phase shows that even in the face of human suffering and economic difficulties, human ingenuity mixed with innovation will never disappear. The emirate of Dubai, with its sheer hard work demonstrating its capabilities and skills, is certain that their goodies must have more stupendous ideas which are getting ready to materialize.
Experience with HLB Hamt in audit experience is great pleasure. They deploy well qualified accounts team for audits.... And the amount of checking they perform give the management of the company confidence that internal controls are well in place. We are glad to see they have high standard of audit practices.read more
Professionally managed firm with commitment to the engagements taken. My company and its group are assigning our... requirements for last 12 years to HLB and we don’t have any negative remarks on any assignments.read more
In my opinion, HLB Hamt is one of the best professional firms in UAE after big4. Excellent client service, professional... and competent staff and timely delivery are their strength. Over the years they have developed the infrastructure and skill set to handle multiple verticals ie, audit, tax services, consulting, IT support etc.Wishing HLB Hamt team all the very best.read more
Thank you Team HLB hamt...Your internal auditing team put the good amount of time and inputs in helping the... organisation making considerable improvements throughout the organisational working structure and helps in building the better business.Thanks.read more
High-Performing IT Teams, I'm impressed with the knowledge level of their deputed staff, audit procedures, and... checklist adopted. Mr. Vimal especially understand the requirement and provide solution not only technical feasibility and also considered budgeting. We’re confident in their abilities.read more
Very professional team. Vimal has always given us good solution advice for various Software and IT Infra projects. We... are very Extremely satisfied working with him and his team. Wishing them success.read more
I have worked with HLB as a partner of Sage for about 2 years, they were dedicated to the success of the partnership... and kept aligned with the business plan that was agreed between our two companies. They are always ready to go the extra mile for a customer and don’t shy away from challenging circumstances. Keep up the good work and wish you all the success in the future.read more
Team of well qualified and organised professionals. Their reports are not based on numbers first they will understand... their client and their business. They are highly recommended and trust worthy.read more
We're glad to have found HLB Hamt to conduct the IT audit and risk assessment for our organization. We have learned a... lot from their team during that first project. And since then, we've continued to be in touch with them. Mr. Vimal especially is very good at presenting technical concepts in simple yet interesting ways that non-IT and business people alike would easily catch. We are very happy with the professionalism and quality of service they provide. They leave their clients nothing short of satisfied. Highly recommended.read more
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.