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

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