Property in Dubai
The Dubai real estate market is constantly developing. To keep up with the recent news we came up to you with a digest. So, while weighing pros and cons of houses in Palm Jumeirah the UAE you can check out some of the new areas and projects and invest wisely.
Dubai has the most transparent real estate market
The JLL Global Real Estate Transparency Index, compiled in 2022, shows that Dubai has the highest transparency in real estate. Experts confirm that the emirate was able to win a leading position in the transparency of real estate transactions.
Experts are confident that the transparency of the real estate sector is due to the new standards that are being introduced by the UAE Government. In particular, this applies to market lending, reporting, provision of digital services, transaction database. In addition, the UAE Government has announced new initiatives for developers, such as the official home improvement index and the sales index.
The CEO of the DLD, Sultan Butti bin Majren, says that more and more international investors are paying attention to the emirate’s real estate market, and creating the most transparent environment for buying property and financial transactions will create better conditions.
Given the desire of business in Dubai to create an emphasis on social and environmental aspects, real estate experts are trying to introduce new standards to improve the quality of service and interaction with end consumers.
New projects from Dubai developers
Today, developers, due to the increased demand for property in the emirate, are in a hurry to present new projects to potential buyers and investors. One of the latest are new off-plan projects from Binghatti and Al-Futtaim Group, which are located in Dubai Festival City and Business Bay.
- The project from Binghatti Developers has every chance to win the title of the new pearl of the premium housing segment. It includes 300 apartments with a smart home system, and the total cost of the entire project is over AED 500 million. There will be studios, one and two bedroom apartments. And one of the main advantages of the project is a unique view of the Dubai Canal.
- The second project is being implemented by the developer Al-Futtaim Group and will be located in one of the clusters in Dubai Festival City. This residential complex will include several mid-rise towers, which will house more than 350 apartments. Buyers can choose from apartments with one, two or three bedrooms. According to the developer, the project will be commissioned in 2 years.
Records of the MBR City area
In the first quarter of 2022, most of the properties were built in the MBR City area. Statistics show that developers have handed over 6,700 housings, and a total of more than 31,000 properties are expected to be handed over by the end of 2022.
- Experts are confident that the MBR City area will retain its leadership in terms of the number of built and commissioned facilities until the end of the year. And such a multifunctional development is still in demand among buyers.
- As for the areas that follow MBR City, Dubailand is in second place in terms of the number of housing built – the developer, which commissioned 15% of the total number of housing.
- Third place was taken by Downtown, where about 11% of the housings were build.
- As future leaders, many experts name such areas as Dubai Creek Harbor, Jumeirah Village Circle, Al Jadaf. Developers assure that dozens of different projects will be implemented in these areas by the end of the year.
This number of properties is explained by the increased demand from investors, who rightly believe that real estate in the emirate is the best investment. And another, no less significant factor is the rapidly developing market, which allows you to earn income both in the short term (resale of property) and in the long term (renting out real estate).
Wasl apartments for sale in Dubai
The developer wasl announced the sale of apartments in one of the luxury projects in the 1 Residences building. The main feature, according to the developer, is its unique location – residents will be able to enjoy quick access to both old and new parts of the city. It is noteworthy that the developer chose Luxhabitat Sotheby`s as an intermediary for the sale.
The representative of the developer assures that this residential complex is going to fully satisfy the requirements of even the most demanding buyers and investors. And against the background of numerous initiatives of the government of the United Arab Emirates, this project will maintain global interest in real estate in the city.
The chief executive officer of Luxhabitat Sotheby`s claims that the developer wasl managed to combine the main requirements of potential buyers.
- Firstly, this is an excellent transport connection with numerous areas of the city.
- Secondly, it is a unique way of life in the city center with the opportunity to use the surrounding infrastructure.
The 1 Residences residential complex itself is a flagship project in which buyers will be able to purchase apartments with one, two or three bedrooms. Residents will also be able to take advantage of an impressive number of amenities and infrastructure facilities, including an outdoor pool with stunning views.
Real estate agency in Dubai
If you want to buy property in Dubai, contact the experts of the Ax Capital agency – the advice of the specialists will help you navigate the real estate market. They will also select the best offers for you, ideally suited to your budget and requirements.
