Maktoum Bin Mohammed Chairs Dubai Real Estate Corporation Meeting To Approve 2025 Budget
H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Minister of Finance, recently met with the Board of Directors of the Dubai Real Estate Corporation. The meeting focused on approving the corporation’s budget for 2025. The board also reviewed financial statements from January to October 2024, revealing a 28% revenue increase compared to the same period in 2023.
The real estate sector's robust performance is a testament to Dubai's rapid progress towards sustainable development, as envisioned by H.H. Sheikh Mohammed bin Rashid Al Maktoum. This growth is crucial for achieving the Dubai Economic Agenda D33, which aims to position Dubai among the top three urban economies globally.
Sheikh Maktoum emphasised Dubai's resilience in facing global challenges while attracting quality investments and talent. This adaptability strengthens its status as a global commercial hub. The real estate sector's positive impact extends beyond GDP, benefiting infrastructure, tourism, and hospitality sectors significantly.
He highlighted that flexible regulatory frameworks aligned with market needs are essential for creating favourable conditions for investors. Moreover, Dubai's successful collaboration with the private sector ensures a secure environment that protects and supports investments.
The Wasl Group plays a pivotal role in supporting the goals of the Dubai Economic Agenda D33 through its innovative projects. Its diverse portfolio includes over 55,000 residential and commercial units, more than 35 hotels, premier leisure facilities like golf courses, and over 5,500 industrial land plots.
The board meeting also covered Wasl Group's digital transformation strategy and future project plans. The roadmap aims to achieve excellence in real estate, hospitality, and leisure sectors while aligning with Dubai's vision to be the world's best lifestyle and investment destination.
Commitment to Investment-Friendly Environment
Sheikh Maktoum reiterated Dubai’s commitment to providing supportive measures and incentives crucial for maintaining its status as a preferred global investment destination. These efforts are part of a broader strategy to make Dubai a city of the future and an exemplary model for urban development.
The sustained momentum in real estate growth supports this vision by offering an ideal environment for living, working, and investing. This commitment underscores Dubai’s ambition to be at the forefront of urban economic transformation worldwide.
The meeting underscored how strategic partnerships with private entities contribute significantly to achieving these ambitious goals. By fostering such collaborations, Dubai continues to create opportunities that drive economic prosperity across various sectors.
With inputs from WAM
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