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Over the next month, millions of people will transit through Dubai and Abu Dhabi, where they will watch football’s biggest event
Millions of fans flocking to Dubai and Doha for the FIFA World Cup will be looking to buy property in Dubai, attracted by the city’s world-class security, best quality of life and high returns offered compared to other major cities around Attract the world, say real estate executives.
Over the next month, millions of people will pass through Dubai and Abu Dhabi, making the two emirates their destinations for the football extravaganza.
“Of course. We’ve seen this pattern in recent years – first during the pandemic, when many people visited Dubai for the first time because it’s probably the most organized city in the world where people live in safety and freedom , while the rest of the world was in lockdown. Then, we saw the impact of Expo 2020. In both cases, visitors to Dubai were amazed at the opportunities this great city had to offer,” said Founder and Chief Executive of Driven Properties Executive Officer Abdullah Alajaji said.
“I see a repeat of this trend when fans from all over the world come to the region for the first time. Over the next few weeks, they will bring liquidity to the market once they see the opportunities Dubai has to offer , someone will make an investment decision,” Alajaji added.
Madhav Dhar, co-founder and chief operating officer of ZāZEN Properties, said more than one million tourists are expected to visit Qatar during the World Cup, which will drive an influx of tourists to neighboring transport hubs such as Dubai.
“The residential real estate landscape in the UAE will benefit from this…many tourists transiting through Dubai will purchase real estate assets for personal use or investment purposes. Despite rising real estate prices in the UAE, the long-term appeal of real estate as an asset is undeniable , the average apartment rent soared 27 percent,” he said.
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The FIFA World Cup, along with golden visas and broader efforts to transition to a digitally-driven economy, are seen as important factors driving the property market, according to real estate brokerage Asteco.
Another property consultancy, Core, said the long-awaited FIFA World Cup has created a lot of attraction for Dubai.
Despite rising prices this year, Emaar Properties founder Mohamed Alabbar said in an interview with Bloomberg Television that property prices in the UAE are still more affordable than in other global centres.
Why do fans buy?
Abdullah Alajaji of Driven Properties noted that luxury living has become synonymous with the iconic lifestyle the city has to offer.
“First-time visitors are always impressed by the lifestyle, versatility and hospitality here. When comparing the quality of life in Dubai to any other leading global city, it comes at surprisingly low prices. In today’s world The fact that Dubai is one of the safest cities in the political climate plays a huge role, besides its central location and tax haven status,” Alajaji added.
“As an international center where more than 90% of the residents are expats, the cosmopolitan spirit of Dubai is very welcome. All of these factors can influence a buyer’s decision to purchase a property here, making it a very logical and easy choice .”
What type of property will they buy?
Alajaji anticipates that football fans can purchase a wide variety of properties, depending on location, size, exclusivity and many other factors.
“Some people buy property just as an investment, often opting for smaller units suitable for short-term rentals, while others opt for second homes that can accommodate the whole family, such as villas or townhouses. The great strengths of the Dubai real estate market are Its versatility allows for quality properties at all price points, both off-the-plan and off-the-plan,” he said.
According to Madhav Dhar, buyers are most likely to seek out one-, two- and three-bedroom units, which are the most in-demand. “These buyers will also prioritize sustainability and community-based amenities, benchmarked against European quality products,” Dhar added.
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