2022 Ground Situation of Dubai Real Estate

[Amit Bhattacharyya]

I was curious to know with so many macro economic events going on in the world right now, how is the current ground situation of Dubai Real Estate look like. Also what is the outlook or perspectives looking ahead till the end of 2023.

And what areas are projected to have a population growth in Dubai and what are the possible reasons around that. Meaning there are lot many AI, machine learning, drone transport and many other tech Innovation projects taking hold on Dubai and hence thinking whether theae will bring in the next wave of population growth in Dubai and hence create the demand for more housing and hence grow the real estate market further.

[Greg Scott]

Ownership rights and civil rights are not the same as they are in the United States.  

Quick story:  You are not supposed to live in the country without a job sponsoring you and if you are behind on bills, you get thrown into debtors prison. During the 2008 downturn there were a lot of people that lost their jobs in Dubai.  Knowing they might have trouble making car and rent payments, there was a mass exodus.  It took years for them to find and remove all the abandoned cars from the airport parking lots. Those people weren't paying rent either.