Why investors might be tempted by Dubai’s real estate market in 2021
Stake co-founders say recent reforms will present opportunities for property investors next year after 2020 slowdown
Dubai’s residential real estate market will present opportunities next year despite a slowdown in 2020, according to the founders of a new investment platform. Stake co-founders Rami Tabbara and Manar Mahmassani have leveraged their 15 years of experience in Dubai’s real estate and financial markets to launch the digital real estate investment platform. Residential real estate prices in 2020 had dropped down to almost below replacement point, meaning that investors can buy property at less than the building cost, but with the introduction of vaccines and the economy picking up, prices are expected to pick up in 2021, said Tabbara, who was a former senior vice president of sales at Damac.