What To Know
- It is important for the reader to understand that there has been a tremendous change in the type of projects in real estate market in Dubai specifically the incorporation of residential, commercial, and leisure spaces all in one building.
- The actual estate market of UAE is estimated to hit $680 billion by the year end while the residential segment is expected to contribute 390 billion $ only.
- Due to a hike in rents, developers are now shifting their attention towards affordable segment and a large part of this segment is being built for middle income group in areas near outskirts of the city.
It is important for the reader to understand that there has been a tremendous change in the type of projects in real estate market in Dubai specifically the incorporation of residential, commercial, and leisure spaces all in one building. Such projects are expected to offer a ‘total concept living’ and respond to the increasing demand from the young working class and the middle income earners as.Containerization specialists estimate.
The actual estate market of UAE is estimated to hit $680 billion by the year end while the residential segment is expected to contribute 390 billion $ only. Karun Luthra, Vice President of global operations at Foremen Fiefdom, has noted this trend, noting that mixed-use developments are growing in popularity since they provide people with a full range of LEED solutions. Also, due to a hike in rents, developers are now shifting their attention towards affordable segment and a large part of this segment is being built for middle income group in areas near outskirts of the city.
The market is also shifting to the focus on sustainable solutions , with more and more constructions receiving green building certifications. New sustainable projects such as the Dubai Sustainable City; has become an eye opener for investors with interest in green buildings, the real estate segment has a better future ahead due to government policies like the UAE Golden Visa.
While some analysts expect a slowdown of market expansion, Dubai’s luxury residential real estate segment remains vibrant. This strategy has played a vital role into Dubai growth due to the international elites who have needs for luxury assets. Analysts expect property’s price to increase at the rate of 5-7% to 2025 thus making Dubai’s standing as the investment destination even stronger.
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