Page 668 - DUBAI MUNICIPALITY ENGLISH PR REPORT - MARCH 2024

Dubai’s real estate investment is witnessing a

clear recovery: Munthir Al Ali

• 25 Mar 2024

Top officials with awards winners during a ceremony in Dubai.

Sajjad Ahmad, Deputy Business Editor

Munthir Al Ali, Chairman of the Board of Directors of a group of real estate companies,
confirmed that the real estate market in Dubai has witnessed a noticeable recovery with
an increase in the volume of sales in the construction sector since the year 2021,
achieving the best performance this year, especially since residential rents in the
emirate witnessed a clear boom, which was reflected in the desire of real estate
developers to pump more investments and launch new projects in the market.

Ali revealed this during the annual iftar ceremony held in Dubai to honour distinguished
employees with the Employee of the Year 2024 award from all companies.

Al Ali, who manages each of Key Mavens Development, Golden Square Engineering
Consultants, Premier Management Consultants, KM Management Group, Vernus
International School and Vision Properties, expects the recovery to continue in
escalation and growth until the year 2026, supported by a number of incentives, the
most important of which are the gains of the emirate of Dubai after hosting Expo 2020,
which was accompanied by positive expectations that have resulted in attracting capital

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recovery-munthir-al-ali