New building
Property type
No. of bedrooms
Area

A surge of new developments expected

13.12.2015
Dubai real estate industry has definitely entered a "thaw" period despite the winter season.

Many market participants long awaiting for the outcome of the housing prices correction period finally made sure — the danger of the further decline was over, and now it's time to start acting. Thus, Dubai authorities’ plans to start implementing major development projects active phases couldn’t have come at a better time too.

Last week emirate’s authorities and biggest developers announced a visible progress for three Dubai city-forming mega projects, namely Aladdin City in Dubai Creek area, District One residential development in the MBR City and a mixed huge mega development Mall of the World. The first of these projects USD 15 million Aladdin City will start taking real shape by the end of 2016: Dubai Municipality has shortlisted candidates for constructing to three companies and will choose a general contractor soon.

Meanwhile, the owners of the most expensive villas in Dubai, located in the District One of MBR City will be able to enter their homes in June 2016. This project’s launch is planned for Q1 2016, and the developer is confident of demand despite the average pricing of USD 4 million.

2016 in Dubai is about to shape future of the emirate for the years to come. Many major projects that will change the whole city structure will be launched next year, including Mall of the World, a long-term and strategically important project with a total area of 1.7 million square meters. It’s master developer Dubai Holding said to finalize all the preparations in 2016 in order to start construction of 278 houses in 2017.

And market analysts do give developers reasons for their confidence in future. According to the ValuStrat November price index, Dubai housing prices stopped declining for the first time since March last year, when the correction gained momentum. And Reidin even recorded growth in the number of real estate transactions in certain Dubai areas. JLT and Downtown transactions number increased in the autumn months compared to the same period last year.

Property price indexes given by ValuStrat and Reidin are close enough to reality, experts say, which is, however, not so true for all other forecasts. Price index should take into account several different factors, including not only the listed price, but also the actual transaction cost, not only average prices for new housing, which are usually higher, but also the cost of the secondary real estate, as well as the actual number of transactions, not doubled due to re-accounting the same premises sold twice during the accounting period. Thus, the real prices growth and decline rates can differ greatly from those shown by consultancy agencies.

Dubai real estate market started settling down and clearing up after the storms of events that swept it in 2015. And 2016 is expected to be the year of laying new foundations for future stability.

Subscribe to our news

Latest Availability
Latest Blog Articles
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
Call management
Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management