The property market in the UAE has recently seen an acceleration in the pace of offering new residential projects, amid renewed demand and the desire of property development companies to keep up and profit from it.
Real estate developers confirmed to Emirates today that the competition between real estate developers is healthy, due to the diversity of the projects offered and the presence of added value from them, indicating the potential of the real estate market this of real to include. estate projects, as a result of population growth, and the state’s ability to attract a group of people with high incomes from buyers and new residents, pointing to government policies that have helped visa procedures in the UAE for people -investors and those looking for work and residence, which encouraged many real estate developers to launch several projects.
Healthy competition
The managing director of Harbor Real Estate Company, Muhannad Al-Wadiya, said: “Competition among real estate developers is healthy, as the projects are presented in a variety of ways, as well as the presence of added value, which can be seen in the prices and offers displayed in the market.”
Al-Wadiya emphasized that the real estate market can accommodate this level of real estate projects, given the rapid population growth and the country’s ability to attract an important group of new buyers and residents, which is a group of income -in high that moves to. live in dubai. He said: “According to the Dubai Urban Plan 2040, the population of the emirate will be 5.8 million people, which determines a demand that is more than double the supply of real estate, to accommodate the population, and most of them are golden residents. .”
Supporting policies
For his part, real estate expert Hussein Al-Marsoumi said, “During the year 2023, the real estate market in the UAE saw a huge jump in growth and expansion, and there was an increase in demand and an increase in the value of residential units. seen,” indicating that “the increase in the population and the investors coming in “And population expansion are factors that have contributed to the increase in demand in the real estate market.” Al-Marsoumi said: “This came against a background of supportive government policies, which allowed visa procedures in the UAE for investors and those seeking work and residence, which encouraged many real estate developers to launch several projects, according to consistent high quality standards with the best international specifications, especially in areas With prestigious infrastructure, which provide advanced services.”
He believed that the proliferation of luxury projects increases demand and increases investment, indicating that, according to estimates and indicators in the real estate market, this could lead to an increase in prices of up to 7% this year . Al Marsoumi believed that this increase was a positive sign as long as there is demand and demand for supply in the real estate market, and because the UAE is one of the most prominent and powerful countries in the field of real estate, which reflects positively on the investment returns and achieves huge profits for investors in the real estate sector.
Advanced competition
In the same context, the Chairman of the Board of Directors of the Real Estate Company “On Plan”, Ahmed Al-Dawla, said: “There is competition in all economic activities and not only in the real estate sector, but it must be positive between real estate developers in a way that serves all parties, especially in residential development projects.
He confirmed that “the real estate market is able to absorb new projects, with the continuous increase in the population in the last few years, as well as the strong attraction that the rental market also enjoys to the high demand. “
Regarding the General Manager of “Awad Gargash Real Estate Company,” Raad Ramadan, he said: “The current competition between real estate developers as a whole is very good in the market, which includes this to positive “
He said: “Any project that is put on the market, whether it’s apartments or villas, will be sold quickly, and every developer will try to earn more depending on what is on offer in the market and the good quality that attracts customers. “
He identified developers who provide high quality commercial real estate products, stressing that each region has its own characteristics when it comes to estimating prices.
Senior real estate agents
The Chairman of the Board of Directors of Al-Waleed Investment Company, Mohammed Al-Mutawa, pointed out that “the recent period saw the launch of new projects from leading real estate developers such as (Wasl), (Nakheel), (Dubai Holding). ), (DAMAC) and (Binghatti). ), as well as (Aldar Properties) in Abu Dhabi and other companies to keep up with market demand.”
A strong economy
The CEO of Stratum Real Estate Management Company, Saeed Abdul Karim Al Fahim, said, “The real estate market is seeing increasing demand, as the economic situation is strong and encouraging companies to launch new projects that respond to the wishes of customers. “
2024-05-13 21:06:25
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