Monday, July 27, 2015

Dubai Property Market Update - Dubai Properties

The real estate in Dubai and the UAE has experienced a breakthrough this year, following the positive performance of the market last year, 2014. This is a major sign of growth and confidence for all the players in the field, especially right after the plummet of the real estate industry during the recession. There have been many improvements made by the industry recently. It has matured in terms of best practice, and serving up regulations & laws to protect both the investor and the developer. These changes have made a positive contribution to ensuring controlled, sustainable market growth in the years to come.

The latest industry reports have reflected a slowing, albeit gradual, pace of price increase; which means that these changes made are positively impacting market behaviour.

From a Dubai Properties perspective, the market this year has put us in a desirable position to build on the strategies that allowed us to experience growth across our portfolio in 2014.

Last year, the demand from investors for residential projects such as Dubai Wharf launched at Cityscape has continued to perform strong, and we expect the same performance from projects that we’ll be addinf this year. As noticed, other DP developments have recorded sell-outs and prompted the release of further units last year. 

We believe 2015 will build on the success that we made last year. For the real estate market, and for DP in particular, our strong sales has been a clear reflection of not only the positive market conditions, but also our successful strategy to develop practical, high quality, and sustainable projects in every segment and area of Dubai that offer essential amenities and facilities to enrich the lives of residents and end users.

DP has already delivered over 36,000 residential units, 2.8 million sq. ft. of office space and over 1.2 million sq. ft. of retail space to the market across key areas of Dubai. The main projects that were launched in 2014 include: Mudon, Remraam, Manazel AlKhor, and Dubai Wharf, some of which, as said earlier, experienced sell-out successes.

DP will continue to develop a growing portfolio of retail, commercialresidential, hospitality and mixed-use projects, and we are still continuing to grow, as future projects across all sectors are being put in the pipeline. These aim to be tailored to meet the needs of real estate investors in the region. We will continue to align our business with the current market demand by launching new projects that provide strong investment opportunities. 

Collectively, the real estate industry in Dubai is continuously experiencing strong growth with investors looking for ‘value for money’ projects across the city with completed infrastructure, accessibility and quality building and finishing. Our projects will continue to meet this market demand in line with Dubai’s growth across the residential, commercial, and retail sectors while continuing with the strategy to develop projects in prime locations of Dubai. 

Winning the Expo 2020 presents a huge opportunity for Dubai’s real estate industry, and as a leading developer with a wide range of projects in every segment and area of Dubai, we are well-placed to capitalise on the increasing requirements which this will bring. 

Moving forward, we plan to launch more projects that cater to the increasing population expected in Dubai over the coming years, from affordable apartments, to villas & townhouses, and high-end luxury accommodation across key areas of Dubai.

Mohammed Al Habbai

Chief Officer for Urban Planning and Infrastructure, DPG

Original post from Roots Land Real Estate

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