This brand-new community-style living area, loved by residents and investors, offers the best in luxury. Dubai Hills is a unique neighborhood that offers upscale real estate for sale, including exclusive apartments, contemporary luxury villas, and upscale townhouses. It has state-of-the-art amenities, including a championship golf course, open entertainment spaces, expanded sidewalks, and magnificent houses.
This development contains a 282,000 square meter mall, sports facilities, hotels, and restaurants, providing a pleasant and relaxed lifestyle.
Buy Villas in Dubai Hills that families widely sought after since they are constructed among enticing green settings while keeping excellent living standards and cutting-edge amenities.
The villas for sale in this gated community come with well-planned green spaces and enlarged pavements, as well as the option to customize the interior design of your home. The elegantly planned floor layouts of these opulent mansions present a distinguished concept of modern living in a traditional natural environment.
Buy Villa in Dubai Hills
Dubai Hills has become one of the most anticipated neighborhoods in this vibrant metropolis and a well-liked option for locals and foreigners alike. This community offers the perfect home option for everyone, from elaborate villas in the style of the Mediterranean to lavish contemporary townhouses. Property for sale in this area is the best option for a tranquil and calm lifestyle because it has luxurious furnishings and outstanding construction.
Why Dubai Hills?
Due to the wide range of affluent neighborhoods spread throughout this vibrant metropolis, real estate investing may be challenging. The Dubai Hills apartment estate is a top choice for those who want both excellent luxury and comfort.
Peace and Tranquility
Dubai Hills lies away from the bustling city. It provides perfect peace and tranquility. You can live there in peace without traffic noise and pollution. For all those looking for comfortable living away from the city’s crowded surroundings.
Dubai Hills has access to all amenities and facilities available for everyone. It has everything from schools, hospitals, malls, restaurants, golf courses, and parks. People of all ages have everything of their interest and can enjoy as per their routines.
Dubai Hills is also one of the residential economic plans with the most affordable housing community. The Vills in Dubai Hills are at the most reasonable rates and perfect for families.
Dubai Hills is well connected to the main city through its well-paved roads. It provides an inlet and outlet to all main roads to the city center and highways.
Final Word :
A seasoned participant in the market, BlackOak real estate firm has assisted several clients in purchasing value-added properties with excellent profit potential. Due to its strategic and clever design, their community has been among the majority of thriving housing alternatives over their lengthy service tenure.
So, dont waste time and check all the listings to Buy Villa in Dubai Hills for a comfortable living!
A unique artificial island in the form of a palm tree, complete with the trunk, crescent, and 17 fronds, is a famous site showcasing Dubai’s architectural excellence. Every home or villa on Palm Jumeirah is luxuriously opulent, and this is due to the top-notch facilities and breathtaking sea views.
This archipelago is a fantastic representation of a luxurious existence, with stunning high-rise skyscrapers on the center stem and gorgeous houses on the fronds.
The luxurious, top-notch amenities include the renowned Atlantis, The Palm, world-class fine dining establishments, outdoor recreation areas, and water sports. Over 4000 opulent houses or villas built in gated communities and large flats in tall towers with seductive sea views make up this area.
The Palm Jumeirah is home to the most exemplary infrastructure, from elegant houses with a contemporary flair to traditional villas with an Arabian flair. Numerous luxury beach clubs, eateries, and other entertainment options add to these buildings’ grandeur.
A Perfect Choice for your Family-Palm Jumeirah Villa for Sale
Purchasing a gorgeous villa in this area reflects true prestige and power, especially in prominent locations like Frond G, often known as Billionaire’s Row in Palm Jumeirah. These incredible works of art include fantastic features like beautiful private pools with unrivaled scenery.
Palm Jumeirah offers private beaches only accessible to residents of Palm Jumeirah. The exclusiveness of secluded beaches is perfect for those seeking a discreet living style. Its best for families who are looking for luxurious and high-class residential properties.
Palm is an artificial island, but it has all facilities for its residents. It is well connected with downtown Dubai and all the important places for fun and leisure. You will have every luxury available for comfortable and upscale living standards.
Each Villa is Customized with a Pool and Gym
All these villas are set for people looking for a lavish living style with everything personalized and customized in their homes. Each villa has a private pool and gym to provide all the comfort in one place.
Palm is not only adorned with palm trees under blue skies, but this artificial island’s waterfront views can take your breath away in a blink. A perfect blend of synthetic and natural elements is an ideal fit for those looking for a place immersed in tranquility and peace. In the hot and humid weather of Dubai, Palm is your perfect choice with a fresh wisp of air and scintillating freshness by the island.
Trust the experts at BlackOak with your real estate investment ideas, and we’ll handle the rest. With our comprehensive verified lists of luxury properties for sale and trustworthy investment programs, we can assist you in finding your ideal home. Purchase a luxurious property on the Palm Jumeirah and take in the breathtaking architectural beauty, private beach experience, and sea views while strolling down the boardwalk.
Dubai Marina, a famous beachfront location in this energetic metropolis, offers its inhabitants a variety of opulent buildings and breathtaking high-rises to live in an exciting environment next to giant yachts from all over the world. Grand hotels, such as The Address Dubai Marina, which has the best fine dining and bars in the UAE, surround these magnificent Dubai Marina apartments for sale.
The abundance of cafés, spas, salons, and retail establishments that line the beautiful Gulf water contribute to this area’s notoriety as a top choice for consumers wishing to purchase a luxury apartment or property.
A broad selection of real estate is offered for sale in this prestigious city center by BlackOak, a seasoned team of real estate professionals in the UAE. Dubai Marina has established itself as an elite residential hideaway in this bustling Emirate and is home to high-class structures and beautiful skyscrapers with trendy waterfront apartments. This waterfront property provides a luxurious lifestyle, from first-rate dining and parks to golf courses.
Why Dubai Marina Apartments for Sale?
Dubai Marina is regarded as a highly sought-after place for anyone purchasing a luxurious apartment or a stunning villa. These modern residences redefine the lavish lifestyle with their stunning waterfront views. Everything needed for luxury living is available in the high-rises and gorgeous skyscrapers, from resort-style apartments to elegant penthouses. To make a successful investment, our knowledgeable real estate experts will assist you in selecting the ideal home.
What is so special about Dubai Marina Apartments
Apartments for sale in this area are always in demand since they showcase brilliant architecture and top-notch amenities. The most fabulous dining, shopping, pubs, and clubs can be found along the long, stunning Dubai Marina Walk, which raises the value of the surrounding houses. The property for sale here is worthwhile since it is near the port and the Marina beach, where various water sports may be enjoyed.
It is a significant destination for travelers worldwide because of the captivating skylines, vibrant nightlife, tranquil coastal atmosphere, and limitless entertainment opportunities.
A seemingly endless length of well-liked nightclubs, beach clubs, and a yacht club are scattered among the glittering skyscrapers, inviting you to spend the night there.
Due to its location on Sheikh Zayed Road, this magnificent waterfront development is easily accessible from Dubai’s main tourist and business districts.
Owing to their closeness to central commercial districts like Dubai Internet City and Dubai Media City, apartments for sale in Dubai Marina are in great demand.
It has easy access to public transportation, making it more affordable and easy to commute.
For beach lovers, it’s the best choice as Dubai Marina is a closet to beaches and provides a fresh and scintillating breath of air.
This bustling and exhilarating residential area offers all kinds of activities to its residents providing all luxuries at a convenient distance.
Who wouldn’t want to wake up and sleep with a fresh, refreshing wisp of air and mesmerizing view?
For legitimate listings, Go to Blackoak and get your appointment booked for the Dubai Marina apartment for sale, get attractive options, and choose your safe heaven!
Located in the city’s heart, Downtown Dubai is a renowned destination for tourists and residents. It is a visual feast with contemporary architecture, including the breathtaking Burj Khalifa tower, lively nightlife, and a broad selection of foreign eateries. The Dubai Mall, one of the biggest shopping malls in the world, is situated here. It includes everything that defines luxury living, from the top high-end and designer brands to opera houses, musical theatre venues, and other entertainment hubs.
Every Downtown Dubai property for Sale is extraordinary, offering unique views of the famous Burj Khalifa, close access to the renowned Dubai Mall, and proximity to the city’s important commercial centers, to mention a few.
Black oak is a reputable real estate firm in Dubai that can assist you in making investments with added value. They have the best choices for luxury real estate purchases Downtown, surrounded by chic shops, hip cafés, popular shopping areas, and magnificent boulevards.
Things to Consider Before Buying Downtown Dubai property for Sale!
Various apartments, including studio, 1BR, 2BR, 3BR, and 4BR units, as well as magnificent penthouses and villas, are available on the real estate market thanks to the abundance of skyscrapers and high-rise structures. Additionally, it has several commercial and office properties in its portfolio. It offers tremendous profit potential for investors due to its ideal location and exceptionally high housing standards. But be aware of the scams. You must know the things mentioned below to make the right choice.
Plan your Budget: You must have a budget for your property in your mind. Dubai is a city full of luxurious properties, which will be intimidating. Every other property you see will make you fall in love with it. So, have a budget and dont play with your heart; look at properties falling within your budget. This way, you can save time and effort.
Location: The second most crucial thing is locality and neighborhood. Make a wise choice. Even in downtown Dubai, you must have a place in your mind where you plan to live and what community you prefer as per amenities and distance from your desired malls, schools, hospitals, etc. Check the proximity and then choose a property.
Check the Condition and Age of Property: No matter how beautiful a property looks, you must keenly examine its condition and age to know for how long that property has been made. Keep an experienced agent who can help you find and understand the potential damages and renovation issues. From floor to ceiling and sanitary to the electrical system, check all to know how well the property was maintained.
Compare Prices and Check Market Value: Buying a property is overwhelming and can sometimes get you into trouble with over-investing. After evaluating the property in a place like downtown, compare its price with other properties and check the market value from 2-3 agents.
Choose an Agent or a Real Estate Company: For a hassle-free process, it’s best to choose a reliable and authentic real estate company to make a valuable yet affordable purchase. Professional agents and companies will help you select a perfect property as per your choice.
If you are considering Downtown Dubai property for Sale, Black oak is the best and ultimate option, with valid listings and affordable rates. It will streamline your process and help you get your hands on the best available listings in Downtown Dubai as soon as possible. From property evaluation to property claim, their team of experts will help you have your dream property more straightforwardly!
Dubai Creek Harbour is a significant waterfront development that includes a wide variety of residential flats, villas, and retail or commercial spaces. It is a contemporary mega-joint venture between Emaar Properties and a government-owned real estate developer called Dubai Holdings, created for integrated luxury living in harmony with nature.
Due to the unmatched tourist attractions, parks, and recreational amenities like a marina and yacht club, Creek Harbour real estate has been a popular choice. This environmentally sound community design spans a sizable 1359 acres and comprises nine districts that showcase the ideal fusion of cutting-edge technology, integrated transportation systems, and sustainable ecosystems.
Dubai Creek apartment for sale is sure to pick up steam in the meantime with the construction of the city’s impending next-tallest infrastructure. Check out BlackOak for verified listings if you want to invest in the ideal off-plan developments in this eco-friendly, futuristic neighborhood and purchase a luxury home in Dubai Creek.
Ideal Choice for Ideal Living
From a roomy, modern apartment to magnificent luxury villas, this gated beachfront neighborhood offers a variety of value-added properties. Formerly known as “The Lagoons,” Dubai Creek Harbour is a stunning example of how nature and wealthy real estate coexist harmoniously. In well-built Creek Harbour, residential developments, including Creek Beach, Dubai Square, and Island District, offer family-friendly apartments for sale.
Dubai Creek Tower
Dubai Creek Tower is the main attraction being the world’s tallest structure as an icon of the 21st Century. Spanish-Swiss architect Santiago Calatrava Valls created this architectural masterpiece after being inspired by the legends surrounding the Hanging Gardens of Babylon. After it is finished, the tower will be among the tallest in the world and provide 360-degree views of the surrounding area. Each day, at sunset, it will also emit a “beacon of light” from its pinnacle, signifying Dubai’s forward-thinking leadership.
Who wouldn’t want to observe this sunset every day?
Neighborhood and Location
Dubai Creek Harbour is an Emar and Dubai holdings project planned on the Dubai Creek waterfront near Ras Al Khor Wildlife Sanctuary. This project will provide easy access to the prominent neighborhood making it one of the most desirable locations closer to Downtown Dubai, Dubai Marina, and Ras Al Khor Wildlife Sanctuary. It is also closer to Dubai Airport, making it easier for people to travel.
Upscale Residential Properties
Dubai Creek Harbour has whatever you need for your upscale residential requirements. It’s the perfect fit for families looking to relocate, having everything at a convenient distance. With the finest Villas and contemporary apartments, it offers a wide range of residential properties to all well suited to their needs and requirements. It provides all the facilities at the doorstep. You will have everything you need, whether restaurants, shopping malls, parks, beaches, hospitals, educational institutions, or supermarkets.
Now, at Creek Harbor, anyone can rent and buy an apartment. It offers 100 ownership rights to all local and foreign investors.
To find more about Dubai Creek Apartment for sale, Check unique and wonderful listings with BlackOak dealing with sale-purchase of residential and commercial properties.
Dubai is an exotic city with endless opportunities for all. It is a house for ex-pats and international buyers because of its modern and appealing architecture. Dubai’sDubai’s location, amenities, and living standards make it an ultimate choice for those looking to relocate.
Mohammed Bin Rashid (MBR) City, which offers a wide variety of opulent apartments for sale, is expected to become the go-to place for luxury housing. Each house in this project has been thoughtfully created around green open spaces and the Dubai canal together with high-end commercial spaces, striking the ideal balance between ecological and urban lifestyles.MBR properties for sale stand out in the market. The MBR homes range from opulent flats to majestic villas to charming townhouses, making them the perfect backdrop for a life of luxury.
Top 3 Reasons to Buy MBR Properties for Sale
The MBR property is a prominent mega-development in the nation, spread across a sizable 54 million sqft area in the heart of Dubai. The residential, retail, artistic, and entrepreneurial sectors have prioritized the community’s development. Each colorful Mohammed Bin Rashid city property, including the opulent mansions and villas that are for sale, has been encircled by a unique arrangement of alluring flora and top-notch luxury amenities:
MBR city’s location is a game changer for all those looking to buy a property in Dubai for their residential and commercial purposes. Mohammed Bin Rashid City includes Sheikh Mohammed Bin Zayed Road, Sheikh Zayed Road, Al Ain-Dubai Road, and Al Khail Road. This area of Dubai is well connected to the rest of the city and has easy access to all major roads and highways.
Our developments are south of Business Bay in the Meydan neighborhood, only five minutes from Downtown Dubai, the Burj Khalifa, Emaar Square, and Dubai Mall. With easy access to Dubai’sDubai’s commercial and corporate districts and leisure and entertainment zones, the Meydan District wins the prize for location.
All locals, foreign travelers, and visitors have convenient access to the international airport, which is only 10 minutes away.
What else do you need from your luxurious property having everything a little drive away?
Amenities and Lifestyle
MBR City is nothing less than a smart city encapsulated with all the amenities of life for a beautiful living experience. It has convenient access to everything, whether shopping malls, restaurants, recreational sites, parks, educational institutions, or hospitals. This ‘city within the city is like an Eden on earth for those who want to live a comfortable life.
The top-notch amenities make it an exceptional choice for those who want to live a life of luxury and comfort in the outskirts of Dubai. It is well surrounded by beaches, greenery, and enticing skyscrapers for a perfect view providing leisure and entertainment at ease.
Have you ever heard of luxurious housing properties with easy access to all fantastic amenities but with zero tax?
Yes, this incredible city has zero tax on its rental income taxes, capital gain taxes, and inheritance taxes. It’sIt’s a win-win for all the local and international investors. This makes Dubai one of the most desirable investment options due to the zero-tax policy and invites investors from all over the world for the world’s leading yet cheapest investments in real estate.
Take Away :
It would be best if you considered MBR City to give your family an extraordinary living standard.
Go to BlackOak, check out the MBR properties on sale, and book yours right away with a hassle-free process for unmatchable living style!
Six-bedroom, 10,000 square-foot mansion at Palm Jumeirah sold to British national
Dubai luxury property sector witnessed another high-value deal.
An exceptionally well designed garden home villa at Palm Jumeirah sold for a record-breaking price of Dh67 million in a single sitting to a British high net worth individual.
This makes the DHB villa the most expensive garden home villa sold on the palm.
The six-bed room property comprising of 10,000 square foot is designed by one of the top architects in the region, Naga Architects and built by DHB Properties. The Japanese inspired Zen Garden, Koi fish pond at the heart of the luxury property, a pool at the ground level as well as a lap pool at the top level adjoining the master bedroom are some of the key features of the new property located at Palm Jumeirah’s Frond G, which is now considered billionaire’s row of the Middle East.
“A play on glass and water creates a movement of lights and shadows as day moves into night. Floor-to-ceiling glass infrastructure ensures that all spaces are flooded in natural light with views of the sea from almost every part of the house,” said Riad Gohar, partner at BlackOak Real Estate.
Record breaking garden villa
BlackOak is a new generation of real estate agency taking on the traditional larger players, with an exceptional business model and leadership. It has created a very professional institutional type retail brokerage platform by investing in a team of high-calibre agents trained in real estate sales, investments, finance and markets.
“BlackOak was proud to work with DHB and Naga Architects to list such a spectacular villa on the palm. The attention to detail and the passion of the architect is truly visible when walking through the villa,” said Imran Sheikh, founder and CEO of BlackOak Real Estate.
Sheikh attributes the credit of selling one of the most expensive and record breaking garden villa to his partner Riad Gohar who clinched the deal in a single viewing with the British buyer.
“Riad is a leader in the real estate industry with 18+ years of entrepreneurial experience, and takes a special focus on the luxury sector where he has transacted over $1 billion worth of properties,” Sheikh said.
Targeting niche market
Gohar said the villa has been developed by DHB Properties, a developer focused on the niche market of luxury living and innovative living experiences. The designs are by Naga Architects spearheaded by Dr Shams Naga.
“The villa is unique both in terms of the style and the quality it has been built to. The buyer was looking for a villa for a few months at a lower price point, but when he saw the DHB villa, he immediately confirmed the villa as there was nothing comparable in the market,” he said.
“Some of the finest brands from Europe, USA and further afield have been sourced to furnish and equip the villa, all hand selected by the designer Naga architects,” he said.
“The Dubai luxury property market has generated a significant interest and activity this year. There have been record breaking transactions in terms of value and price per square foot,” Gohar said.
Lack of high-end luxury products
With the migration of HNWI and UNWI’s to the UAE, Sheikh said the luxury market has plenty of steam as there is a lack of high-end luxury products.
“Areas such as Palm Jumeriah, Dubai Hills, District 1, etc are seeing great demand for villas whereas Dubai Marina, Palm Jumeirah and Downtown/Business Bay for apartments,” he said.
Sheikh, a veteran of the real estate industry in the UAE for the last 15 years, is working with large family offices and institutions and has transacted more than $2.5 billion worth of real estate.
In reply to a question, he said prime properties in Dubai have bright prospects and it will continue to attract millionaires, high net worth individuals and investors.
High net worth individuals, millionaires and entrepreneurs will drive growth in luxury property market
Dubai’s luxury property market will continue to rise in the second half of the year as limited stock of prime and ultra-prime residential units are unable to cater to the rising demand from both end-users and foreign buyers, experts say. Industry specialists, analysts and market experts said the demand for prime and ultra-prime properties in Dubai is on the rise since the beginning of the year as high net worth individuals (HNWIs), millionaires and entrepreneurs looking to relocate or buy a secondary home in Dubai. Referring to the recent report, they said 4,000 HNWIs are expected to relocate to the UAE this year as the country demonstrated its ability in managing the Covid-19 pandemic, successfully hosting Expo 2020 Dubai, offering excellent connectivity and 100 per cent foreign ownership of companies and introducing range of visa reforms. They further said the Russia-Ukraine conﬂict is also drawing liquidity and investments into Dubai from the affected regions. Luxury a resilient segment Prathyusha Gurrapu, head of Research and Advisory at real estate consultancy Core, said the prime and ultra-prime residential market has been relatively resilient compared to the affordable and mid-market segment during 2014-2020. “We have observed a marked increase in demand for prime residential properties since fourth quarter of 2020. In fact, 2021 saw the highest secondary market transactions above Dh10 million in the last decade, with Palm Jumeirah accounting for nearly 35 per cent of these transactions,” Gurrapu said. “This trend of robust demand for prime residential continues in the first quarter of 2022, with prime transaction volumes above Dh10 million being 140.2 per cent higher than the same quarter of 2021,” she said. Elaborating, she said about 483 deals above Dh10 million were signed during the January-March quarter this year compared to 201 in the same quarter last year. “Villa transactions exceeded apartments as 305 villas and 178 apartments were sold in first quarter of 2022 compared to 150 villas and 51 apartments in the same quarter last year as the demand for the luxury market is stemming from both end-users and overseas investors,” Gurrapu told Khaleej Times While prime residential prices are well near 2014 prices, many buyers are largely agnostic to historical pricing and ﬁnd Dubai prime waterfront property to be competitively priced compared to most global cities, according to Core’sfirst-quarter report. Tight supply for luxury properties With very high transaction volumes compared to previous years and the ready stock in this segment taken up by HNWIs, the lack of inventory in the secondary market has pushed more interest toward the prime off-plan market. Recent launches in the high-end market are reﬂecting this trend and have seen strong absorption, it added. The report further said the prime market is witnessing a record number of transactions, it still forms a small fraction of the overall Dubai market — a similar scenario seen in most global housing markets. However, experts said the luxury property market is expected to double its share this year due to an influx of investors showing interest in the segment. “To give perspective, transactions above Dh10 million formed only 3.3 per cent of all the secondary market transactions and 1.4 per cent of all the off-plan market transactions over Q1 2022,” according to a Core report.
Luxury has a bright future Imran Sheikh, founder and CEO of BlackOak Real Estate, said prime and ultra-prime property hold bright futures due to rising demand from foreign buyers. “We see strong demand and the trend to continue as more high profile and HNWIs move to the region. As the supply of good quality, well-designed, modern state-of-the-art properties is limited, the demand will outstrip the supply in the short term,” Sheikh said. H2 to see more deals Ata Shobeiry, chief executive, of Zoom Property, said the significant figures produced by the luxury property sector in 2021 and the first half of 2022 have garnered the interest of investors, which will play a key role in the growth of this market in the second half. “With more developments featuring high-end properties backed by ultra-modern amenities, we can expect the second half of the year to produce even better figures,” Shobeiry told . In reply to a question, he said the luxury property sector has been attracting investors and HNWIs equally. However, with reformed visa rules set to be implemented in September 2022, “we will see more overseas investors” venturing into the market.
“As luxury properties are dominating the real estate sector, they will attempt to leverage the situation. This will play a positive role in sustaining the demand for luxury properties while benefiting the overall property market,” he said.
Demand for villas increased in the UAE because of the pandemic outbreak and also due to low-interest rates.
The real estate sector contributed 14.2 percent of the Saudi GDP ranking third as the most contributing economic activity.
For a moment, the Covid-19 pandemic appeared to have posed a challenge to the tenacity of the growing real estate market in the Middle East as people started to work from home. But the markets have weathered the storm, by and large.
Cities in the Middle East are overgrowing, with Dubai and Riyadh ranking among the top 20 cities in JLL 2020 Momentum City Index, a global commercial real estate services company that ranks the world’s most dynamic cities in terms of real estate. The growth, experts say, will continue.
UAE real estate’s tenacity
The UAE has seen a record amount of real estate sales in the first six months of 2021, with transactions worth about $20bn, a 40 percent raise over the previous year.
Most of the real estate activity in the UAE was focused on well-established and new villas, with increased demand following the spread of the pandemic to a larger area, as well as lower interest rates in the current market.
The VPI residential capital values increased in Q1 2021. According to a Value Strat price index, Middle East’s leading consulting group, residential capital values increased by 3.8 percent sequentially.
villas led the way with a 7 percent quarterly increase and a 6.3 percent year-over-year gain. In addition, villa rents grew by 9.5 percent quarterly, while apartment rents increased by 4.6 percent.
Changing investment landscape
Imran Sheikh, a real estate expert, confirmed to TRENDSMENA confirmed the rise in villa sales in Dubai, pointing out that COVID-19 has changed the pattern of real estate of interest to buyers, as large villas with private gardens have become incredibly more desirable after the restrictions imposed by the pandemic. He also said that most of the new villa projects in Dubai were being sold before the projects were completed and that sales transactions grew by more than 40 percent and property prices alone have increased by about 10 percent in Dubai over the last year, with specific communities seeing much higher increases.
Regarding international buyers, Imran noted that they were impressed by how the UAE dealt with the outbreak, which gave greater confidence to them to invest in real estate in Dubai and Abu Dhabi.
Imran also stated that there needs to be an increase in the standard and quality of service brokers are providing especially to international buyers.
A leading business Hub
Imran said the UAE’s real estate market developed due to the government’s proactive approach in managing the pandemic,
favorable rules and regulations, ease of doing business, adequate legal framework and higher quality better-designed products.
Realignment of prices
ICD Brookfield’s expansion of 900,000 sq ft of office space is expected to increase competition in the Dubai office real estate market, with downward pressure on rents. In addition, Imran states that the fact that Dubai attracts families, location will be very important as we are more likely to see a continued increase in the demand for units with proximity to good schools as well as beachfront properties.
On the other hand, “Expo Dubai 2020” will be a perfect opportunity for real estate developers to introduce attractive investment opportunities in the real estate sector in Dubai and the entire Emirates, following the government’s successful marketing of the World Expo Organization, which ensures a significant presence of foreigners during the six months of the exhibition.
Improvements for future
Imran added that the UAE’s real estate market is improving and could become more attractive by lowering and regulating fees, improving the quality of newly built properties to attract foreign investors, and limiting market supply.
Investors contributed more than $44.37bn into the purchase and financing of various real estate between housing, buildings, and lands located in multiple regions of Dubai since the beginning of 2021, allowing the market to continue recording historical trading volumes never seen before.
In addition, the amount of money invested during that period was higher than its equivalents in the previous five years, with a 68 percent increase compared to the same period in 2020.
Saudi real estate market
Saudi Arabia has a different demographic structure than other countries. Unlike the Emirates, there is a shortage of housing units in Saudi Arabia.
The real estate sector contributed around $14.18bn, or 14.2 percent of GDP, in Q4 2020, ranking third as the most contributing economic activity to GDP.
The real estate market ended the first seven months of the current year with a 28.6 percent growth, bringing the total value of market deals to $32.69bn, compared to around $25.41bn for the same period the previous year.
During the same period, the value of residential sector transactions increased by 13 percent year on year. The considerable increase in the total value of local real estate market deals is due to the return of economic activities compared to the same period last year when several measures were undertaken to limit the spread of the Coronavirus.
The National Housing Company, Saudi Arabia’s investment and enabling arm for housing supply, revealed plans to participate in Saudi’s real estate sector development to achieve “Vision 2030” until 2025.
The plan includes:
Increasing the supply of various housing units and working to improve the contribution to the GDP.
Strengthening partnerships with the private sector, particularly real estate developers.
Stimulating the real estate sector to provide more job opportunities for Saudi youth.
The company has developed a unique plan for each project within its strategy, which aims to maximize the role of the real estate sector in the national economy, as it seeks to increase real estate supply by more than 300,000 units and contribute to an increase in GDP of more than $48bn by 2025.
Investing in real estate is never an exact science. But the practice can be honed through hundreds of hours of immersion in not just the real estate and property markets, but in the financial, political, and economic outlooks globally and locally.
Imran Sheikh is a leading real estate expert.
Real estate investors will often say they follow their instincts, and right now, instincts are pointing to the UAE real estate market – especially Dubai’s.
Investing in real estate is never an exact science. Some successful investors will tell you that it is largely down to instinct, but what they won’t tell you is that that instinct is honed through hundreds of hours of immersion in not just the real estate and property markets, but in the financial, political and economic outlooks globally and locally.
In a globalized world, it is pointless to only look at factors linked to the country you are interested in. One location’s success or attractiveness to investors will always be relative to other locations it is competing with. A real estate investor needs to have an in-depth knowledge of the sector and macroeconomic factors, which are constantly changing. Only then, will their “instinct” tell them whether or not now is a good time to invest.
It may never be an exact science, but by considering different variables investors can determine with a certain amount of confidence what countries, cities, or even specific areas are likely to yield the best results.
And most, if not all of those very same factors are pointing towards the fact that the UAE, and Dubai in particular, are currently sitting in a sweet spot of investment potential.
Level playing field
The real estate industry is a competition. Not just between individual projects as they race to get investors on board, but between cities, countries, and regions. At the risk of simplifying global economics to a couple of sentences, if you were to plot the economic development (and hence the attractiveness for investment) of a nation over time (usually the GDP), then in almost all cases it would demonstrate a wave pattern.
It is every investor’s intention to invest in the real estate sector at the bottom of one of these waves, or more appropriately at the trough of the market cycle – or at least at the point where in theory the market should start to recover and continue its trajectory upwards.
As you can imagine, each country’s market cycle is at a different stage of growth or decline, making it not just a case of investors looking at individual countries, but also comparing them to see which is likely to rise most steeply in the foreseeable future.
The pandemic has had the almost unprecedented effect of resetting practically every country on the planet back to an equilibrium. How they improve or continue to decline from here will obviously differ, but the UAE provides an impressive and opportunistic baseline due to its real estate infrastructure that will surely help the sector thrive after the pandemic is over and economic activities resume.
We can possibly draw parallels to what happened to Dubai post global financial crisis in 2008. The pre-recession investment that went into developing great projects coupled with the healthy economic growth and lifestyle quality provided helped Dubai leap forward and become more attractive to international investors. The same is happening now; the way in which the UAE has handled the pandemic combined with its real estate quality, lifestyle, education and healthcare will place it at the forefront of many economies in the region and globally when it comes to location attractiveness. We have recently seen many international investors relocating their families to the UAE exactly because of these advantages.
The rest of the world
It is too soon to say with any certainty which countries’ economies will recover the quickest and which will fall behind, but there are aspects that we can look to that will have an effect on the real estate markets in the longer term. The shift in working patterns towards home and remote working experienced during lockdowns in the UK, Europe and the US is very likely to be something that continues not just in the short to mid-term, but possibly in the long-term. This will have an undetermined effect on office space in the major cities, but also in all property in those cities as people are no longer tied to a commutable distance to their office for a home. Regardless of anything else, this creates uncertainty, and if there is one thing that the markets and investors do not like, it is uncertainty.
And of course, there are dual issues in Europe with regards to the EU’s poorly managed vaccine rollout and the uncertainty around Brexit.
The resetting of the global economies and the problems facing many of the countries globally put the UAE is in such a strong position for attracting interest from investors both domestic and international.
The UAE’s economy is predicted to bounce back relatively quickly, with the IMF forecasting a 3.1 percent GDP growth, and crucially that growth is expected to continue. Q1 has already seen healthy growth in the UAE real estate market, with a marked move from a market that was almost entirely domestically driven over the past few years, to one that is attracting more and more foreign and institutional capital. The economy is further supported by a revitalized growth in the UAE and Dubai’s non-oil foreign trade in 2020 which touched $321 billion.
There are several reasons for that growth. Firstly, the UAE is seen as a safe haven financially, especially for those from many of the other MENA nations, as well as Africa and parts of Asia, where once again uncertainty and even instability will make investors look for alternative options.
Once an investor knows their money is safe, the next consideration is the yield and how secure that yield will ultimately be. Everything else being equal, it is the projected yield that will be the decisive factor. Here, the UAE is very strong, offering more than 7 percent gross rental returns on average, and many real estate projects producing between 6-12 percent unlevered net yields. In a world with historically low-interest rates, and an insatiable desire for yield, the UAE stands out like a shining beacon.
Dubai was recognized in JLL’s Global Real Estate Transparency Index as one of the “global top improvers” due to more than just the yield. This score was boosted by government initiatives to improve corporate and real estate sustainability. The government has been proactive with its business-focused initiatives (low taxation, free zones, ease of registration to name just three) and its robust regulatory procedures.
Finally, let’s not forget that Dubai is one of the most sought-after places to work and live. Once again, the government has helped with its introduction of new visa categories to attract more professionals, investors and families. Further, the weather, architecture, culture and lifestyle are all substantial draws for people from Europe and the US. Its strategic location makes it a lot more attractive than Singapore for example, where the distances involved are a hindrance for people wanting a second or holiday home. Those of us who have lived, worked and invested in the UAE for years have known this all along, the rest of the world finally seems to have caught on.