Developers queue up to launch mid-income housing

22.04.2015
Al Mazaya Holding has entered the market with Q Line, a mid-income housing project in Liwan, Dubailand.

Competition in Dubai’s mid to lower-end income housing market is heating up with Al Mazaya Holding entering the market with Q Line, a mid-income housing project. Its master development is called Queue Point and is valued at AED2.6 in Liwan, Dubailand.

“We believe in the UAE [property] market and we are catering to the medium- to low-income housing. It is a promising segment for developers and there is demand for such housing,” company Group CEO Ibrahim A Al Soqabi told Emirates24/7.

“We have a prime location compared to other mid-income housing projects." Prices for studio apartments range from AED350,000, while the average price being AED750 per square foot.

Q Line, comprising four buildings with 500 units, will be completed in 2017, with the developer looking to complete Queue Point by early 2016. The 52-residential building development, inspired by San Francisco's urban structure, was originally launched in 2007, but progress slowed down post the global financial crisis and slump in the emirate's property market.

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