As the UAE joins Saudi Arabia, Bahrain and Egypt in welcoming Qatar back into the GCC and ending the conflict amongst the countries which has gone on for more than 3 and half years, we hope to see more capital crossing the boarders and having a positive impact on the Dubai real estate market.
History and tradition has always shown the UAE and Qatar working and living closely together. Qatar has always contributed to the numbers investing in Dubai with Qatari investors being in the top 10 most active in the Dubai residential real estate market. These investors will very quickly refamiliarize with what real estate opportunities exist in Dubai and learn to trust again what is on the table.
This re-established free flow between the two countries will also have an impact on tourism and retail as visitors from Qatar have always enjoyed the freedom of Dubai and have always spent well. The end to this regional split which started in 2017 will have a positive knock-on effect on all industries and provide a well-needed injection of capital into the Emirate.
With borders opening in time for the 2022 World Cup in Qatar, tourists and visitors to the region will be able to enjoy the benefits of traveling through the GCC more freely. Together with a new Israeli market showing interest in Dubai, we trust this will have a positive impact all round.
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Author:
Zarah Evans
Owner & Managing Partner, Exclusive Links Real Estate
17th January 2021
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