Market will see more affordable homes by 2016

17.03.2015
The affordable homes should be built for people earning between AED10,000 and AED25,000 per month, according to the chief of Dubai Investments.

The UAE property market will see more "affordable" houses by 2016, according to the chief of Dubai Investments (DI), one of the largest land bank holders in the UAE.

“I don’t expect a correction in the market. I expect a slowdown for 2015 because of outside factors and not internal factors," company CEO Khalid bin Kalban told Emirates 24/7.

“I think 2016 onwards there will definitely be a pick-up on affordable housing because of the projects being undertaken by the government such as Al Maktoum International Airport, Expo 2020 venue development and theme parks in Jebel Ali area."

“Market forces are driving developers to leave luxury behind and focus on ‘affordable’ housing. We believe these units should be priced reasonably, while the rent too should be reasonable so as to meet the demand for houses from the low- to mid-income people in coming five years.”

These houses should be built for people earning between AED10,000 and AED25,000 per month, he said, adding, the company will soon be launching projects in the 'affordable' category.

Subscribe to our news

Latest Availability
Latest property news
Send us an enquiry or request a call back
Your name *
Phone
E-mail *
Your message *
*- indicates required
Request a call back
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