News & Articles
Dubai Real Estate Market Soars with a Remarkable 80% Growth
In recent years, Dubai’s real estate market has experienced a significant resurgence, with an astounding 80% increase in property transactions amounting to Dh157 billion. This remarkable growth underscores the city’s position as a top destination for property investments and highlights its robust economic recovery. The surge in transactions can be attributed to several factors, including favorable government policies, attractive mortgage rates, and innovative new projects launched by developers. Additionally, the Expo 2020 event has had a positive impact on the real estate market, attracting international investors and increasing demand for residential and commercial properties.
The residential market, in particular, has seen a substantial increase in both off-plan and ready properties. High-end villas and luxury apartments have witnessed the highest demand, reflecting the growing preference for larger living spaces amidst the ongoing pandemic. This trend is expected to continue as remote work becomes more commonplace and people seek comfortable environments to live and work.
Start a Real Estate Company in Dubai
Launching a real estate business in Dubai can offer numerous benefits and be a lucrative endeavor. To set up a real estate business in Dubai, follow these steps: Begin by identifying your business activity and legal structure, selecting an appropriate option such as a limited liability company, sole proprietorship, or a branch of a foreign company. Next, participate in the mandatory Real Estate Regulatory Agency (RERA) training course, pass the qualification exam, and submit the required documentation to obtain your RERA license. Reserve a trade name that aligns with your business objectives and complies with the Department of Economic Development’s (DED) guidelines. Choose your business location and rent suitable office space, then submit your license application along with the necessary documents to the relevant licensing authority for approval. If needed, register for VAT with the Federal Tax Authority. Finally, hire personnel, set up your office, and purchase the required furniture and equipment. It’s recommended to seek guidance from business formation professionals like Choose UAE. Contact us or use our cost calculator:
How Can Choose UAE Help
Choosing to start a real estate company in Dubai is an exciting opportunity, but it can be overwhelming without the right guidance. Choose UAE offers comprehensive support in selecting legal structures, obtaining licenses, finding office locations, and hiring employees. Our business formation experts have a deep understanding of the Dubai real estate market and regulations, empowering entrepreneurs to establish thriving real estate businesses. Contact us today for impartial and reliable business formation consultancy.