Expo 2020 Dubai Stimulated Real Estate Growth: JLL

JLL, an international real estate investment and advisory firm, shared insights into the outlook for the regional real estate market this year at its recent annual outlook event in Dubai.

Events held under the theme ‘Real estate sector reset‘, JLL Middle East, Africa, Turkey (MENAT) CEO Thierry Delvaux and his team, Real Estate Market Outlook, Sustainability-Promoting Trends, Flexible Office Space Demand, International Real Estate Transforming Themes, UAE I explained the outline of construction. Insights on cost trends and future workforce.

Delvaux said: “The theme of this year’s event is to reinvigorate many trends in which pandemics are already reshaping the city, from changing work and lifestyle preferences to the central role and needs of the digital economy. Selected with this in mind. For a more resilient, inclusive and sustainable community. In the Arab Emirates, indicators broadly suggest that economic growth accelerated in 2021. Expo [2020 Dubai] It helps to stimulate growth, such as rising hotel occupancy and rising prices for residential real estate. This is expected to continue to have a positive impact on the real estate market in 2022. “

The key insights of the company in 2022 are:

• Mainstreaming Sustainability: The role of the built environment in creating a more sustainable future is currently in the limelight. Stakeholder pressure is increasing as regulators, occupiers, lenders and investors expect more from the building environment sector.
• Increasing demand for flexible office space in the hybrid world: Deploying a hybrid policy gives employees the flexibility to choose their work environment. But it also set the time for staff to provide the space they needed for their days in the office. Relaxation spaces, healthy eating services, and the Outdoor Area are at the top of the list of amenities that can encourage workers to return to the office, as they seek to connect with colleagues in an environment that is almost as comfortable as at home.
• How the relaxation of global travel bans is impacting cross-border activities: Covid-19’s unprecedented economic turmoil, and similarly unprecedented policy responses, reinstate commercial real estate It led to a non-uniform recovery that continued to form. There is an opportunity for this confusion. Steps taken by real estate investors and tenants to position themselves for the future to survive as well as prosper include real estate transformations, redesigns, zoning differences and other creative solutions. increase.
• Key Construction Cost Trends in 2022: The recovery of the UAE construction project market in 2021 made the housing sector the best performing construction asset award. This trend is expected to continue throughout 2022 as demand for residential units increases. The UAE Vision Program, the UAE 2022 Federal Budget, and the recovery in oil prices should also create positive market sentiment and ultimately drive construction activities throughout the year.
• Creating Solutions for the Workforce of the Future: The Covid-19 crisis has created a major paradigm shift in the way people work and live, but offers a unique opportunity to shape a better future for work. increase. Successful companies of the future are those that boldly and proactively work to shape the workplace according to the changing needs and preferences of the fluid workforce, and the solutions meet the needs of individual employees and their prosperity. It will be adjusted to assist you.