Positive Market Tidings
Dubai’s real estate market is flourishing, with a number development projects under way, setting the stage for positive investment and stable growth.
Dubai is working vigorously to attract visitors to the city to reach the 20 million visitor mark by 2020. One of the mega projects launched by Meraas Holdings is three theme parks, which will be located near the Dubai Expo site. A Bollywood, a Hollywood and a Lego land inspired park will be the new highpoint of Dubai’s entertainment scene and will cater to adults and children alike.
At the same time, a number of housing projects are under way that promise to meet the residential demand of the city and provide a unique living experience by 2016. The project locations clearly demonstrate that Dubai Marina and Downtown Dubai followed by Jumeirah Village are the most popular localities for investment. Emaar Properties is developing BLVD Heights, a two tower complex in Downtown Dubai, which will offer affordable apartments. Similarly, Park Investments is building 93 four-bedroom villas in Jumeriah Village Circle.
While, BLVD Heights and Jumeriah Village Circle offers affordable living, Marina 101 in Dubai Marina is selling luxury apartments and penthouses on the top levels. Tebyan property developers is also offering a tower crystal themed residential complex in partnership with Swarovski.
Developers in order draw buyers to invest in the different projects have introduced a variety of schemes, where the focus has been shifted from cash ready investors to end-user buyers. They are offering stretched payments, which has been a smart move to attract serious buyers who are operating on a constrained budgets. Emaar Properties is offering an Emaar Preferred Access programme, while Park Investments is recommending a two part payment scheme and interest free installments.
On the other hand, the government through its Real Estate Regulatory Agency has introduced new regulations that safeguard the interests of all parties involved in the real estate business and encourage a positive and stable market environment. Brokerage activities are now being monitored and rampant speculation is being curbed to allow steady growth of the market.
Market Insight is aimed at examining the emirate's dynamic market and forecasting industry trends. It is evident that the Dubai real estate market and the government is now gearing itself for the Expo 2020 and the visitor and influx that is expected in the coming years. Developers are introducing mega projects in popular localities but proceeding with caution and introducing long-term payment schedules that not only guarantee serious investors but also motivate developers to complete the projects in a timely manner. Keeping in light the development trends and Colliers International report, investing in Dubai’s real estate market is a better investment in the long term than stocks and has seen a growth of 20% a year. Hence, Dubai market promises good returns and a positive growing environment.