Why ‘Off-plan’ and ‘Affordable’ Are The Most Important Trends of 2017

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The high demand for off-plan properties and affordable housing are the two most significant trends impacting Dubai’s real estate industry in 2017 and beyond. Top property developers like Emaar Properties, DAMAC Properties, Dubai Properties and Azizi Developments are responding to increasing interest by investors to tap into the affordable housing sector. With the World Expo 2020 taking place in Dubai South, major projects are being built to cater to millions of people planning on attending this event. With affordable being the trend in Dubai along with the coming of the Expo, investors should pursue the new project launches in Dubai South and Al Furjan community.

Expo 2020 is Coming to Dubai

Dubai is hosting the next World Expo in October 2020.  This highly anticipated event will attract approximately 25 million visitors from 180 different nations. The official confirmation of the Expo 2020 has directly enhanced Dubai’s off plan property sector.  Investors purchasing property near the Expo are expected to earn a high return on investment as visitors attending the Expo will require housing.The Expo 2020 is a major aspect driving Dubai’s affordable housing sector. The areas close to Al Maktoum International Airport such as Dubai South and Al Furjan will feature various residential affordable developments. These emerging projects are affordable since the adjacent areas remain undeveloped. The Villages, The Pulse and Emaar South are affordable housing projects in Dubai South. With increasing interest in affordable housing, key property developers are responding to this demand in the market.

Notable Affordable Properties in Dubai South and Al Furjan

Damac Properties which specializes in luxury homes has decided to tap into the affordable housing market. Damac is building homes priced at less than Dh1 million. Reidin-GCP’s data shows that transactions for properties under Dh1 million are at 46% since 2015. Properties between Dh1 million to Dh2 million currently make up 30% while properties that cost Dh2 million and more account for 24%. In Dubai South, DAMAC Properties is constructing DAMAC Maison de Ville Tenora,  a highly anticipated affordable residential project. This project features furnished and serviced deluxe rooms, one and two bedroom suites.  This affordable residence caters to Expo attendees due to its close distance to the event.Azizi Developments, a renowned property developer in Dubai, is constructing affordable quality projects in Al Furjan community. Azizi’s Farishta Residence is a high-end residential apartment with available units under Dh 1 million. These fully furnished units consist of studio, 1 and 2 bedroom apartments. Other notable properties in Al Furjan include Candace Aster, Azizi Orchid Residence and Azizi Daisy Residence.

Affordable and Off Plan Will Trend Beyond 2017

In summary, the demand for affordable and off-plan properties has boosted and is projected to increase in the foreseeable future. With high online searches for affordable housing along with the Expo 2020 coming to Dubai South, top property developers will certainly tap into this undersupplied sector. The Expo has motivated investors to purchase affordable units in Dubai South and Al Furjan. The Expo’s six-month duration will host millions of visitors who will require renting property. The high rental demand during this event will enable property owners the flexibility to increase rental prices, increasing their earning. 

Dubai’s Largest Park is Coming in 2017

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Dubai Holding and Dubai Municipality is constructing Dubai’s largest public park in Dubailand. The park will stretch across 1,430,000 sqm, approximately three times larger than Dubai’s Zabeel Park. The development of the park is under the management of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, Dubai Holding and Dubai Municipality. Sheikh bin Rashid aims to advance the city’s fitness levels, environmental awareness and strengthen Dubai’s rank as one of the happiest cities around the world. The park will increase public space in Dubai by 17% upon completion.

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Outdoor Amenities

The vast natural landscape and trees will improve the air quality of the community by preserving existing biodiversity. Approximately 15,000 trees of adopted and native species will be positioned along the nature trails and throughout the park.The park’s large space will feature outdoor amenities: extensive pedestrian trail, 20 km jogging track, cycling tracks and scenery trails. This park is appropriate for families and all age groups. Parents have access to 55 playgrounds for their children. Sports enthusiasts have 45 sports grounds sites for sports games. The parks open fields and courts can cater to soccer, cricket, tennis and basketball meetups. The park features shopping outlets, gourmet restaurants, cafes and five events areas.

Construction of Phase 1

The park’s first phase is scheduled to begin by the end of 2017. Phase 1 will cover 318,000 sqm of land, including a 4m jogging track, 2km bicycle track and a 7km pedestrian walkway. The public park will include 10 sports grounds and one major events space. Impressive park features will include on-site power generation, wifi connectivity throughout the park, natural & built shading areas and smart card for tickets and purchases.The park’s remarkable features and popularity will directly enhance the property value of homes in Dubailand.

12 Exciting Offplan Waterfront Projects in Dubai

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Dubai’s real estate market is producing new off plan waterfront projects set to launch between 2017-2020. Waterfront projects are increasingly in demand for their world-renowned construction, return on investment and scenic views of the coastline. These communities are attracting expats from across the world to spend their holidays in the emirate. The listed waterfront communities are the most desired areas for home buyers seeking a majestic waterfront experience in Dubai.

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Which is More Risky: Saving or Investing in Dubai?

Saving or Investing in Dubai    

Too many people are keeping their money in banks and not capitalizing on the assortment of investment opportunities available in Dubai. It is essential to understand that saving your income in a bank for long is risky and will consequently result in losing money rather than gaining. Rather, investing in multiple sectors is safer, resulting in protecting your purchasing power and potentially earning a higher return. Keeping money in the bank presents high risks that provide low benefits with higher losses. Economic inflation, bank interest rates and investment opportunities in Dubai will clarify that money sitting idle in the bank is the riskiest habit within many people.

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How to Sell Your Property in Dubai

How to sell your property in Dubai

Being unfamiliar of the steps required to sell your property in Dubai will delay the process and become an overwhelming burden. Sellers who are educated on the steps needed to sell their property can maximize their time while capitalizing financially on the sale. With Dubai being one of the most competitive markets in the world regarding real estate, selecting a qualified real estate agency is critical in receiving the highest return on the sale. Knowing the selling process and being able to identify an established agency is the most important information needed when selling property.

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