Cityscape Intelligence sits down with Lewis Allsopp, the CEO of Allsopp & Allsopp to discuss the future of Dubai’s real estate sector.
What expectations and predictions do you have regarding the Dubai real estate market outlook for 2021-2022?
The DLD recorded that in February 2021, Dubai had the highest number of secondary/ready sales in a single month since January 2017. The market is moving at an incredible rate and I predict it will continue into the near future with prices stabilizing before the end of the year.
The timeframe for Expo 2020 has changed. Now that we have a better idea of what the event will look like, what market predictions and trends do you expect to see?
I think that Expo 2020 will have a hugely positive effect on Dubai’s property market in years to come. The sheer volume of people that the Expo is estimated to attract will spark the interest of companies and professionals who may well see the benefit in setting up roots in the city. Captains of the industry may see Dubai as the perfect business hub to set up headquarters and entrepreneurs who are looking to start up new businesses, especially when the Expo site will be transformed into a business hub after the exhibition.