Profile cover photo
Profile photo
Dubai Property Society
74 followers -
The Latest Real Estate Market News from Dubai
The Latest Real Estate Market News from Dubai

74 followers
About
Posts

Post has attachment
The transformation of Dubai from desert outpost to one of the major players in the world economy is one that has taken very little time at all. Built on a bedrock of oil money, the city has become an easy target for environmentalists. Of course, the growth has taken a lot of resources. Nobody will doubt that. But at the same time Dubai has always had an eye on the future. The city has set challenging targets for sustainable energy production.
The city of Dubai looks to a future when the oil runs out. This has involved –

• Attracting the tourist spend
• Setting up places to do business
• Being at the forefront of technology

The vision of the rulers is to create a ‘City of the Future’ for all to enjoy. Sustainable development is at the heart of this.

A Sustainable Challenge

The UAE is a heavy user of resources. The World Bank estimates that the country consumes 18.8 tonnes or carbon dioxide for every person annually. While many countries are consuming more CO2 by the year, the UAE has been able to reduce the consumption dramatically. Between 1971 and 2013, this figure has shrunk by around 75%. This are great figures for an "oil city". The Dubai Expo 2020 is the perfect showcase for what this remarkable city can achieve. The Expo will encourage –

• Mobility of people
• Sustainability of living
• Opportunity for global stakeholders

The figures

Dubai will sit at the centre of the world stage. Their sustainability pledge will form the backdrop to all of this.
The Dubai Ruler HH Sheikh Mohammed bin Rashid Al Maktoum lunched the Dubai Clean Energy Strategy 2050. This sets challenging targets for the city in terms of how much energy is produced by sustainable means. When you take a look at the figures, you will see how far-reaching this is –

• 7% of the power produced in the city to be sustainable by 2020
• 25% of the power produced in the city to be sustainable by 2030
• 75% of the power produced in the city to be sustainable by 2050

The Dubai Green Fund has been established to reward businesses for their contribution to these targets. Technologies are being sought that will change the old way of producing energy and provide something different. Once again, we find Dubai on the front line of change. An initiative called Dubai ‘10x’ is at the centre of this search.

Oil won’t last forever. Dubai has seen this trend coming for a long time. Becoming less reliant on oil is a long-term strategy. Changing the emphasis from oil to sustainable energy is a green move and will keep Dubai at the top of the pile. The city, society and environment will all benefit.

The economic power

When the oil price drops, then Dubai suffers. Other near neighbours may suffer more acutely, but Dubai still feels the pinch. Crude oil falls can see public spending and foreign investment drop. Being so dependent on the oil price makes Dubai vulnerable. The last economic downturn hit the city badly.

Being a global economic player means attracting investment no matter the economic outlook. Being a transport, tourism and finance hub is the driving force behind this change. The city wants to embrace the new world. Sustainable energy will kickstart this.

Being attractive to both Europe and Asia as well as the global superpower of America will see Dubai to a bright future. The image of the city should be one of vibrancy and innovation. The city has grown again recently and is showing strong signs of shaking off the housing malaise of the last few years. People who pass through should become longer-term tourists. Regular tourists should be converted into residents. The city will benefit.

Making it easy to do business

When an economy slows, leaders have a stark choice. Batten down the hatches and hope for it to pass. Or invest in the right places for a prosperous future. Dubai suffered with the economic downturn. Jobs were lost. Production slowed. Construction was stopped. Even investment took a battering. The future looks a lot brighter, particularly thanks to initiatives like this one. Promoting sustainability and investment in these technologies shows the world that the city is ready to do business.

Dubai has a place to fulfil in the modern world. It can attract investment, grow and show other oil-producing areas that there is life after the barrel has run dry. This idea will change the way the city is seen. The image of an oil-rich emirate is starting to fade with the tourist and economic attractions of the city. As this initiative takes hold, this will be an image banished forever. Trust Dubai to seek out the future faster than anyone else.
Add a comment...

Post has attachment
There are property investors in Dubai. Some have been here for years, while others are looking for quick returns before disappearing. Property investing is seen as a kind of alchemy. People don’t know what to invest in. But the official figures show Dubai in some areas has a higher rental yield than other cities seen as global investment hubs, such as:

• Singapore
• New York
• London

If you look more closely, there are other factors at play here too. The potential tenants should be considered when buying a property. The people that you will attract have certain needs that you must cater for.

What type of property to buy

The appeal of the villa is strong. It is the typical view of Dubai – a villa with a private pool. But villas don’t provide the same kind of return as apartments. The typical villa will generate an income for somewhere between five and eight percent. This is beaten by the return from apartments at somewhere between seven and ten percent. You can see why apartments are a more popular choice for the smart investor.

You can make more money by investing in apartments also because affordable housing has been under-serviced in Dubai for some time.

What other factors influence demand for your rental property in Dubai?

It isn’t just the size of a property that determines rental demand and income. How close it is to business districts as well as building quality are a factor. If your property appeals to families then it should be close to transport links, schools and supermarkets. There are many factors that will determine how much you can get in rent from a Dubai rental property.
Think about your purchase in terms of your potential tenant. Think about what they might want and need. This way you can provide a place to live that will be in demand.
Add a comment...

Post has attachment
This year has become the year for real estate investment. This has been a development that is much-predicted over the years. It is finally here as a year where property prices start to look up again. July 2017 shows the biggest off-plan investment month on record. The 1,719 off-plan apartment transactions shown up to 28th July are a record in themselves. As the month finishes, we could see this rise significantly. Now the Dubai property market thrives on the number of off-plan investments. This record month shows that good times are ahead.

Growth in many areas of Dubai

Another promising aspect of this is that the numbers are in different parts of the city, not centred around one region. The areas that have the most investment are:

• Downton Burj Khalifa
• Jumeirah Village Circle
• Business Bay
• Mohammed Bin Rashid City
• Dubai South

It is comforting to know that the growth in off-plan investment is happening across the city. This is a sure sign of solid growth for the future. The Dubai Land Department shows the figures for off-plan investments and July has been a revelation. The fall in transactions over the last 3 years looks to be a thing of the past.

Why is this happening?

Strategically the reasons for this trend are many. The fact that entry level prices are low, coupled with the excitement over Dubai Expo 2020 could be major factors. The Expo will bring around 25 million people to the city over the course of the year. This is seen as the prime time for investment in the Dubai property market. It is seeing rises in jobs, interest and transactions. The Dubai property market receives an encouraging stimulus after several years of stagnation. People can see it as a global property hub again. The money invested in Expo 2020 will only add to that feeling.
Add a comment...

Post has attachment
Real estate in the city of Dubai is moving with the times. Innovative technology is developed to keep up with customer demand. The traditional real estate market has relied on photographs and descriptions. Over the last ten years or so floor plans and videos have also appealed to buyers. When marketing to an international audience, Dubai real estate must be cutting edge. The latest drone technology is coming online to help the market move to the next level. People want to know what their property looks like and where it lies in order to make a purchase decision.

Surveying form the air gives better data

Dubai Municipality has embraced this technology and can now offer aerial survey by drone. This gives the real estate industry the opportunity to show their potential clients what a new home or development looks like. It is an exciting development. As part of the Happy Dubai initiative, the people who buy property will be more satisfied with the information they are offered. Dubai is re-establishing itself as a global property hotspot. Developments such as this will only help to cement this place at the top table of world real estate. The information is accessed via a smartphone app and is used to promote and assess property and land.

It can also speed up the process

The time taken to assess in a transaction can slow down and even scupper transactions. This is a negative of the Dubai property market that is now addressed. This new system will take many of the time delays out of the process. People who own land and government departments can access information quickly and provide to their legal teams. The future looks brighter for the Dubai property market with new innovations such as this leading the way. Developers and real estate brokers will see a great benefit from this and the app is proving popular already.
Add a comment...

Post has attachment
The worldwide phenomenon of Uber is embraced by consumers in every new market. It gives people the power to get transport at the few clicks of a smartphone button. Uber makes it simple to see if there is a taxi near to you and to get around. This is perfect for a busy place such as Dubai, where people need access to quality transport. This happens at all times of the day and night. It is almost as if Uber was made for the urban environment of Dubai. The city needs transport links to help promote business and leisure all year round.

Adding to the service

The latest development sees vehicles owned by the Dubai Taxi Corporation or DTC joining the Uber system. The Roads and Transport Authority had confirmed that DTC taxis can be found on Uber across the city. The city needs to be serviced by high-quality taxi services, so this move is going to further that provision for the benefit of the city. DTC offers limousines for the discerning customer who wants to travel around the city in some degree of style and comfort. It means that  Uber customers can access these limousines on their smartphone screen, with full knowledge of availability and cost.

Helping the people of the city

This is a move that has been some time coming. Dubai taxi customers want to experience the same level of luxury when moving around the city as they do when at home. Uber has grown into this market. The marriage of the two concepts is the ideal way to provide a service that Dubai wants and needs. Customers will see waiting times fall, as they can use handheld technology to access the available limousines of the DTC. This means that another reliable operator has been added to a service that is already welcomed with open arms by the people of the city.
Add a comment...

Post has attachment
Dubai is growing all the time. New developments are happening in all the parts of the city you would expect. But clever developers are creating something new. In fact, they are creating some beautiful areas for the discerning buyer to consider. Here we take a look at the latest developments and what they could offer you.

Dubai Creek Harbour

The Creek is an up and coming part of the city. The Harbour Island District offers waterfront living without the cost of Dubai Marina, for example. The project will be ready by the middle of 2020 and it will have nearly 500 residences to choose from. This is set to be a top destination for those that want to live in style.

Deira Islands

This is a lease-only development that will mix the best accommodation with some great leisure facilities. The plans include a water park, plenty of shops and much to do for all the family. Expect it to attract expats with families from all over the world.

City Walk

As the population of Dubai becomes more diverse, the demand for outdoor living increases all time. City Walk allows people to get out in the Dubai warmth, beware the heat of mid-summer, and now this development will give people a place to live right on the walk.

Dubai South

Demand for property in Dubai is coming back strongly again after the downturn of the last few years. So, new areas are being developed to maintain supply to meet this. Dubai South will eventually have 15,000 homes to cater for all manner of residents. The two main developments are The Villages and The Pulse, and together they represent a new vision of Dubai living. Outdoor space is abundant in these places and people can spend time in the great outdoors.
Add a comment...

Post has attachment
Blockchain technology is seen as the future of payments by many and may very well revolutionize how financial transactions are processed. Dubai has been at the forefront of this technology. Therefore the city could be the first in the world powered by Blockchain. Not only that, it could happen as soon as 2020. IT experts see the strides Dubai has made as the start of a Blockchain economy. It has received backing from the government in this area and Dubai looks to the future as a tech city that leads the way in new ideas.

The size of the Blockchain market

Although new to some, Blockchain is a huge market and this is expected to grow even more in the future. Currently the market is worth $210 million but by 2021 this market is expected to grow to over $2.3 billion. The change is staggering. Of course, this means that the city will need new consultants to develop and deliver Blockchain solutions to businesses and individuals. As the smart economy takes off in many parts of the world, Dubai leads the way with this technology. It is an innovative city. The next steps will be to implement these ideas.

The future of the Dubai economy

As the city looks to the future, ideas like Blockchain represent a great opportunity. The technology is perfect for many industries and provides speedy and cost-effective transactions rather than via traditional banks. Dubai wants to be a leader in the digital economy of the future. This is putting the city on the world stage, front and centre. The momentum of Blockchain is something that many cities want to benefit from. With its tech background, Dubai is best suited to make the most of this opportunity. If Dubai becomes a Blockchain powered city by 2020 then this is because the foundations will be laid now.
Add a comment...

Post has attachment
The city of Dubai gets ready for the 2020 Dubai Expo. There are many new projects just beginning that will attract visitors for years to come. News of a huge Dubai beachfront resort planned at Jumeirah beach near Burj Al Arab in Dubai has been unveiled by the ruler of Dubai and the plans look fantastic. When it is completed it will be the premier beach resort in the region. Of course it will attract the attention of the world to this great city. Being a place where families can visit has been high on the agenda for Dubai’s planners for years and this is a crucial part of that plan.

Developments in Dubai

This is one of many projects that fit within the UAE Vision 2021 and Dubai Plan 2021. These look to take the city and country forward as a major worldwide destination for business and tourism. The beachfront resort will go along with other attractions to really bring the family to this part of the world. This allows people to get to Dubai and have a great time here. The resort will be another positive piece of news for the local economy and will drive tourism.

Huge Dubai beachfront resort planned soon

These plans will be a reality in the very near future. In fact, the work is due to begin this year. The resort will sit along a huge area of waterfront that will be developed. The hotel chain MGM has a large stake in the plan and they are very excited about the potential it brings. The project will take around four years to be built. It will take pride of place in the Dubai tourist scene. It will include a theatre, many restaurants and adventure zones for children and adults in a move that will delight the visitors from 2021 onwards.
Add a comment...

Post has attachment
There are many factors that can influence the price of property. With the Expo on the horizon, people are starting to wonder what it will do to the demand and price of property in the city. Dubai Expo 2020 and the property market is a subject that delivers a great deal of debate. But what does it mean to people involved in buying, selling or renting a property in the city?

Dubai Expo 2020 and the property market

It is a big event for the Middle East. It puts Dubai even more firmly on the world stage. It will attract trade and innovation to this city, that is for sure. But the effect it has on the property market is probably a little subtler.

It will increase the number of jobs in the city. This will happen in preparation for the Expo and after it has happened. More jobs mean more demand for property. The effect should be to increase prices.

As Dubai attracts the attention of the world, it will gain more demand from tourists too. Whether they visit the Expo, saw it on TV or read about it, their desire to visit the city will increase. It will boost the city.

What this means for Dubai

It will have a positive effect on the property market. People will need somewhere to stay during the Expo so expect prices for rent to rise in the run up to the big event. The demand for people to relocate their business and home to Dubai will also be there. The more popular parts of the city are already seeing a rise in process. This will continue through to 2020 and beyond. It will be good to see that the Expo 2020 Dubai provide an encouraging stimulus for the Dubai property market.
Add a comment...

Post has attachment
Construction is something that Dubai leads the world in. It is known across the globe for innovative design and stunning buildings. From the Palm Jumeirah to the World Trade Centre, the landmarks of Dubai are known and loved. It keeps the city at the forefront as it maintains its status as one of the premier cities to live in worldwide. The news is that a 3D printed skyscraper comes to Dubai only adds to the excitement around the city. Let's take a look in more detail.

A 3D printed skyscraper comes to Dubai

3D printing really started to take off a few years ago. It was first employed to design small items that could be printed on the desktop and used plastic moulding technology to deliver items instantly. But the technology has moved on massively over the last few years. Now the use of a crane to 'print' huge scale 3D designs is changing the way that construction firms produce buildings.

A company called Cazza lead the way and as a result the skyscraper will be printed here soon. They have designed the first 3D printed skyscraper and will build it in Dubai. Cazza have pushed the boundaries here. Building a 'printed' skyscraper is the kind of thing that Dubai should lead the world in. The fact that it is being built here will therefore attract the attention of the world. Dubai wants to be on the world stage and great ideas such as this will help it to stay there.

What will the crane print?

Traditional 3D printers work with plastic, but that obviously isn't going to work for a skyscraper. Cazza have developed a crane printed that will print in concrete and steel because they deliver the strength needed. While this tech has been used on smaller designs, this is the first skyscraper to be built.
Add a comment...
Wait while more posts are being loaded