Growth of Dubai’s secondary property market and approval of a 3-year Courts plan

Growth of Dubai’s secondary property market and approval of a 3-year Courts plan

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  • Growth of Dubai’s secondary property market due to European investors and approval of a 3-year Courts plan by DIFC

Dubai’s secondary property market is growing due to European investors.

From February to March, prices for secondary real estate market rise up by 15% as demand exceeded supply. The largest number of investors from such countries as:

  • France
  • Germany
  • Italy
  • UK

TOP areas for sales:

  • Downtown
  • Dubai Creek
  • Dubai Marina
  • Palm Jumeirah

The Dubai Government has approved $1.7 billion residential package.

This includes housing and land allotments for 4,610 Dubai citizens. It's part of the Emirate's housing program.

Financial centre, DIFC, approved a 3-year Courts plan.

The goal is to bolster Dubai's position as a global business and financial centre. The plan consists of 28 projects, including the creation of:

  • Digital economy court
  • Online courts
  • Departments for intellectual property rights
  • Deposit centre, etc.

Sources: Zawya, The National News, Arabian Business

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