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The long queues to purchase real estate indicate that the industry has returned to pre-Covid pandemic levels.
Potential buyers are queuing to get a share of Dubai’s lucrative real estate, which shows that the industry is returning to pre-Covid pandemic levels.
Photos and videos posted on social media on Tuesday night and Wednesday morning show that as the main developer Nakheel launches 360 units as part of the second phase of Murooj Al Furjan West, people have queued up to make a deal. The new townhouses in the main Al Furjan community have three-bed and four-bed units, starting at Dh1.85 million.
The long queue to buy property in Dubai is a nostalgic feature before the pandemic and one of the barometers of market confidence.
Nakheel told Khaleej Times in a statement that it has taken all precautions and adopted the highest hygiene standards to ensure the safety of customers and employees. This includes a “large dedicated waiting area.”
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The statement added: “Safety and well-being are always our top priority.”
Real estate consultant Marwa said she expects buyers to line up until all units are sold out.
Farooq Syed, CEO of Springfield Properties, said Nakheel has responded very well to its latest product launch. “After Covid, the prices of ready-made townhouses have risen very quickly because people prefer the extra square feet and communal lifestyles compared to living in tall vertical structures. In addition, Nakheel is (a few)…developed The merchant launched a townhouse near Sheikh Zayed Road.”
He added that compared with other townhouses on the market, the plot area and construction area of ​​the townhouses are good.
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Fathi Akram Skaik, managing director and business owner of Noble Empire Real Estate Brokers, said that the first phase of the project was sold out “within a few hours.”
“The newly launched projects prove that there is still a great demand for the townhouse market. I think in the future, we will still see demand for townhouses and small independent villas,” Skaik added.
Krishma Gehani, Senior Account Manager of Homes4Life Real Estate, said that the 2020 Dubai World Expo will start in just over 20 days and will bring a lot of international investment.This will rise further in five and ten years Give the owner a golden visa, she says.
(From Waheed Abbas and SM Ayaz Zakir)
sandhya@khaleejtimes.com
Sandia De Mello
reporter. period. My interests are economics, finance and information technology. Before joining Khaleej Times, I worked in some leading publications in India, including The Economic Times.
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