Expert Eye

Expert Eye - Dubai Real Estate

Expert Eye

A city for all with thousands of opportunities

Even though the globe is revolving around a lot of uncertainties, and the markets appear to have intermittent hiccups, the vision of Dubai, sets it a class apart. Dubai is on the pathway to creating something extraordinary and making people believe in a better world with better opportunities.

Many real estate investors and industry people were not sure about the recently concluded Cityscape, mulling over the direction it would take regarding investor sentiments and overall mapping of the property market. Nonetheless, the much awaited day arrived, the show of spirits was high, and once the ribbon was cut, the property canvas was painted in bright hues of positivity.

The event saw some magnanimous project announcements from different developers. A huge array of attractive payment plans was offered by top notch developers and new entrants alike, leading to fierce competitiveness and enhancing what the event had to offer, thereby propelling the Dubai Real Estate in the right direction.

Looking back to 2010, people were unable to fathom how Dubai would be able to sustain itself with excess supply and unfinished projects, but today many developments have proved otherwise with close to 90 percent occupancy.

Keeping in line with its 2020 vision, announcing such large scale projects is actually the need of the city. This year, Dubai boasts a population close to 2.5million, equivalent to Singapore’s population is close to 5.5 million, more than double what it was.

We can forecast a similar growth in Dubai by taking a conservative approach and it can rightfully proclaim an edge in terms of location, being a tax-free haven, and a strategic location which connects the East and the West. Dubai is surrounded by nations that cling to conservative policies that have a beneficial spillover effect for this dynamic city. Dubai’s evolving infrastructure has earmarked it as a city of the future paving the way to prosperity and sustainability.

When talking about Real Estate, the most baffling of all, the highly unexpected move and the real jewel in the crown came about by an unanticipated announcement: the launch of Safi townhouses BY NSHAMA:

We saw it happening in 2006, and yet again in 2012. Once more there was history in the making: thousands of people queueing up, the project getting sold within the first 3 hours of the launch, people queuing for more than 24 hours in 40 degree Celsius. Yes, all the action happened this Cityscape by NSHAMA. It offered a project which was isn’t investor driven but also end user driven. Nshama is one of those companies who is currently offering very lucrative and affordable prices with luxury living. It brings to the property palette complete community living with great facilities.

Emaar was also at the helm of affairs, churning out some very fine property packages: at one time where people challenged who will live as far as Emirates living when it was launched, Emaar surprised and surpassed many yet again by launching Dubai South townhomes, a new concept, which was very well received by investors. Many say it is far, I would question, “Far from where?” Far from the world’s biggest airport to come? Far from the EXPO 2020? Far from the biggest logistic hub? Far from Dubai theme parks and resorts? Far from industrial zone in Dubai Investment Park? Far from Jebel Ali free zone?

I would not take away any due credit from Dubai Properties for launching the most affordable townhouses with back to back projects such as Arabella, Serena, Casa Dora, along with fantastic payment plans where one has to pay 60% at the time of handover.

Some big private names also deserve special accolades such as Select Group who after successfully launching Marina gate 1 and Marina gate 2, announced a tie-up with Jumeirah group of hotels for their third and final building of Marina gate 3 and about to launch another building with ticket size in the most mature area Dubai Marina.

It would be unfair to leave out some upcoming new entities in development who are creating a mark or about to create a fine imprint on the property front such as Azizi development, Ellington group, Danube, Sandstone Properties to name but a few.

Lastly I would simply reiterate the fact that Dubai just like any other city will go through the variables: cycles of ups and downs, what is important is the constant that Dubai has slowly and steadily put in place: improvements in infrastructure and facilitating laws to advance the investment opportunities despite still being in the initial stages of becoming the City of the world. Dubai is already on a high with some great openings such as IMG and several other entertainment magnets along with the history in making, iconic Dubai parks and resorts ready to fling the doors wide open in October 2016. This project alone has churned out 5,000 new jobs and is expecting to generate a whopping AED 2.4 billion revenue in the first full year.

Come be a part of Dubai’s historic success: make a mark, own it! To be a proprietor or a simple spectator, the choice is yours!

Ahid Shaikh Mohammad
Chairman
Deja Vu Real Estate Brokers LLC

 

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