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Al Zarouni: The competition between real estate developers has reached unprecedented levels – local economy

The Chairman of the Board of Directors of “W Capital Real Estate Brokerage”, Walid Al-Zarouni, said that the competition between developers in attracting more real estate investors, since the beginning of this year, has reached unprecedented levels, stressing that the price competition among real estate developers in Dubai is a good thing, because competition is pouring In the interest of the real estate investor, whether the purpose of the purchase is investment or housing.

He expected that the percentage of people owning real estate, instead of renting, will increase with the current low prices and attractive facilities.

Al-Zarouni added that prices have reached attractive rates of purchase, citing proposals by some developers, speaking for the first time in the market, considering that these prices came as a result of healthy competition in the market.

He pointed out that the current conditions in the market will motivate developers to reduce the profit margin, to conform to market conditions, and to abandon the high profit, so that they can continue to compete in the market.

He continued, “Organizing prizes from time to time is one of the means for private sector companies to stimulate real estate sales and attract customers to increase the purchasing momentum of individuals and companies, while highlighting the attractive investment opportunities available in the market.”

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Al-Zarouni pointed out that his company recently announced the launch of a reward of half a million dirhams, to encourage investors to buy real estate units, and it will be through five opportunities to win, valued at 100 thousand dirhams at one time, indicating that the total value of the real estate marketed by the company to major developers, Since its inception to date, it has amounted to over 200 million dirhams.

He stressed that the permits for organizing the withdrawals are issued by the Dubai Economy and the Dubai Property and Land Department, and are intended to encourage distinguished promotional offers and support sales of the real estate sector in the emirate.

He said: “(W Capital) aims to be among the best national real estate brokerage companies in the coming years, by supporting expansion plans for real estate companies, supported by the improvement in the expected demand in the market, during the year 2021.”

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