Dubai tycoon Sajwani 'amazed' at property bounce, but analysts say buyer beware
While many countries re-imposed lockdowns and travel bans over the last year, Dubai stood out even among its neighboring emirates by allowing hassle-free travel for most destinations. It's also eased business and visa regulations, bringing a host of digital nomads into the emirate after its population dropped by nearly more than 8% in 2020 due to the pandemic.
Sajwani said people came to Dubai during lockdowns in their countries and found safety, healthcare, vaccines and security, making the city a more attractive place to invest. "Dubai is really booming from that point of view," Sajwani added. Maple Invest, a company Sajwani controls, is offering 1.40 dirhams per share to take Damac private. An initial offer of 1.30 dirhams was rejected by minority investors.
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