Experts :GITEX 2022 has Multiple positive effects on Dubai real estate sector

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Dubai: safar news

“W Capital ” The Dubai-based real estate brokerage , stressed the strategic importance of GITEX Global 2022 for the Dubai economy and its role in the recovery of all economic sectors, especially the real estate sector.

“With the launch of the most important technical event in the region ,if not in the world, and in conjunction with the start of the season with major events and exhibitions, as well as the tourist season for the last quarter of the year, GITEX play a positive role on most of the major economic sectors in Dubai,” said expert Walid Al Zarooni, chairman of “W Capital” real estate brokerage.

Al Zarooni added that the large number of GITEX visitors in Dubai will be reflected directly on the real estate sector by activating residential rents and hotel revenues, in addition to promoting to the large crowd of foreigners interested in investment expansion through the real estate sector.

Al Zarooni expected the exhibition would achieve a historic number of visitors. “It was supposed to take advantage of GITEX by organizing a large real estate exhibition immediately after GITEX to take advantage of the great momentum of visitors,” he added.

Al Zarooni believes that GITEX consolidates Dubai’s position in the realm of technical development, and confirms Dubai’s position as the mecca of global technology and artificial intelligence , which increases its attractiveness as the best environment for living in the future.

Al Zarooni pointed out that the exhibition make a good opportunity to present the smart services of the Dubai Land Department and introduce their platforms that facilitate the real estate sector transactions. It allows users to make real estate decisions through an integrated set of digital procedures, without the need for paper documents.

“All these factors consolidate Dubai’s position as a global destination for real estate investment by reducing procedures, keeping pace with the latest technology developments, and relying on a digital work system, which is the most advanced in the world,” Al Zarooni said.

He revealed that Dubai is among 4 major global real estate markets that are valued at fair value, according to a recent UBS report, while 9 cities face the risk of a real estate bubble.

The Chairman highlighted the possibility of “GITEX” being a platform to promote real estate in Dubai being a smart city in everything. He believes that the current generations prefer this style of living, which makes Dubai the best destination regionally and globally.

He pointed out that the Dubai real estate market continues to receive great support from the unlimited facilities and countless initiatives launched by the emirate’s government, represented in the policies to support expatriates, new residency laws, and the residence of entrepreneurs and investors, in addition to the infrastructure that made Dubai the global leader in the field of real estate .It is taken for granted that Dubai cemented its position at the forefront of global destinations as the best place to live, work and invest.

Walid Al Zarooni stressed that Dubai is innovating in anticipating and industrializing the future, predicting economic problems before they occur, and developing effective solutions to them.

Al Zarooni pointed out that the move does not take place at the level of the private sector, for example, or governmental and semi-governmental institutions, but rather comes from the head of the administrative structure of the emirate, which gives confidence and strength to move quickly towards modernization and development in all fields. He beleives that the decision is now coupled with reliance on the latest technologies and applications of artificial intelligence.

GITEX Global 2022 was launched at the Dubai World Trade Center from October 10 to 14, surpassing all previous editions in terms of size and capacity, with the participation of 5,000 companies spread across 26 exhibition halls with a total area of two million square feet. This represents an exceptional increase of 25% year-on-year, with more than 100,000 visitors expected from 170 countries. The event will be attended by more than 800 startups and 1,000 speakers.

This edition of the GITEX constitutes the most influential edition in its history , as it covers 7 diverse technological topics including metaverse, the future of the decentralized Internet, and the sustainable global digital economy, Artificial Intelligence, “Web 3.0”, blockchain, G6 communications, cloud computing, financial technology, and big data.

The exhibition is a forum for developers and programmers in the Middle East, bringing together 10,000 programmers and developers from various international technology companies.




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