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In a thought-provoking day of discussions on Cityscape Intelligence Talks, the region’s leading content platform, industry leaders concluded that while Dubai’s real estate sector has matured into a developed market with a wide range of opportunities, investors and homebuyers should really pay attention to them want somewhere to put their money.
At Cityscape, the UAE’s largest property hunting event, some of the hottest topics of when to rent vs when to buy and what to buy are discussed at a top-level gathering of the region’s leading real estate professionals.
On the show floor, Cityscape highlighted investor and end-user interest in owning property in Dubai, with key exhibitors reporting big business.
Sobha Realty revealed that it closed deals worth more than AED100 million (US$27.2 million) in the first two days of the three-day event, which concluded today (November 23) at the Dubai World Trade Centre.
“We started the pre-launch of Sobha Hartland One on our first day at Cityscape and there was a lot of interest. Now the appetite is high and the Sobha stand is packed with visitors and interested people,” Francis, Managing Director, Sobha Alfred said. real estate.
With Dubai’s booming real estate sector, Cityscape Intelligence Talks are a huge draw as industry stakeholders seek insight into key players.
In a panel discussion titled “Buying Dubai: Finding Yield, Migrating to the Suburbs and What’s Next for Home Buyers?” Matt Gregory, Chief Operating Officer, Houza.com; Sam McCone, Managing Director, McCone Properties; and Safura Abasniya, CEO, Aston Pearl Real Estate Brokers, agree that the Dubai real estate market has untapped potential, but developers need to do more to meet demand , while homebuyers and investors have to think about their needs and really want to buy.
“The opportunity for investors is there. If we look at the third quarter, 50% of buyers were cash buyers,” Gregory said, adding that there will always be a need for affordable villas in the market, but there is still supply shortage.
“There is a distinct lack of affordable villas and townhouses that you could classify as local rather than further afield. There is an opportunity for developers to assess and decide this is the way the industry needs to go,” he noted.
Safura Abasniya added: “Today, one in ten new projects is a villa or townhouse, while 90% are apartments. Three years from now, the demand for family homes in Dubai will grow exponentially, so if You’re an investor and these are going to be your properties to look out for.”
A third member of the panel, Sam McCone, retorted: “Dubai is considered a safe haven. There are opportunities here for end users and investors, but it depends on investor demand. Some properties have gone up 150%, me” Not convinced this is sustainable. However, there are plenty of options in affordable neighborhoods that add value to homebuyers. Dubai offers a wide range of options and opportunities, but investors need to decide wisely where they put their money. “
Earlier, at an insightful panel of residential developers, Afzaal Hussein, CEO of Azizi Developments, told delegates: “There is a lot of interest in Dubai. Now is the time for the city to activate as much as possible and take advantage of it. Yes. Opportunity to invest anywhere. Yes, you can buy a villa for 200-300 million dirhams if you want, but you can also buy a studio for 150,000-300,000 Apartment or single bed.”
Property Monitor chief operating officer Zhann Jochinke added that the supply of family homes has been a topic of discussion: “Inventory is running low. This year we saw 38,000 new projects come to market, but only 5% were villas, about 15% were townhouses and the rest It’s apartments, so the supply doesn’t match the demand.”
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