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Dubai is still proving to be a popular choice for investors. There are a lot of clues to suggest this.
Investor confidence in the real estate market has been restored; competition between developers is higher than ever with real importance on design and lifestyle, not to mention bringing more green landscapes to the city.
Real estate transactions in Dubai rose by 4.6 per cent to Dh113 billion in the first six months of 2014 to Dh108 billion during the same period last year.
The overall result is that the real estate market in Dubai is able to regenerate and offer a variety of products to attract investors.
We believe that Dubai can sustain this level of attraction and build on the momentum that is developing from the increased demand.
Dubai Marina continues to be popular and remains the most favorite area among investors, with 2,576 sale transactions being registered worth Dh5.87 billion.
Real estate (land, apartments, villas) sales accounted for 54% of the total transactions equaling 22,096 deals worth Dh61.5 billion, the Dubai Land Department (DLD) said in a statement.
Mortgages consisted 42 per cent of the dealings, with a total of 6,922 transactions worth Dh47.3 billion being recorded.
The total number of transactions for Q1 and Q2 was 30,380 as reports suggest.
The developer community is now far more advanced and mature than during the last property boom, and it really is essential for buildings to be part of a community that offers everything, from shops to gyms to educational institutes to banks and leisure areas.
The level of careful planning which is going into projects to ensure they are genuinely viable in the long term is one of the most pleasing aspects of the current real estate market revival.
It is obvious that there is a keen eye on creating a vibrant public realm around buildings which encourage people to lead active, healthy lifestyles.
Plus the new regulations focusing on environment friendly procedures and green architecture are becoming an increasingly popular option for developers nowadays.
Cityscape Global, which is supported by the Dubai Land Department, is the annual meeting point for key real estate investors, developers, investment promotion authorities, architects, designers and other real estate professionals to drive growth in real estate investments and developments across emerging markets globally.
Also running in tandem with the exhibition is the Cityscape Awards for Emerging Markets.
The awards program has attracted hundreds of entries from developers and architects behind real estate developments across emerging markets globally.
Submissions are now being reviewed by an independent judging panel with the winners to be announced at an elaborate ceremony taking place at the Armani Hotel, Burj Khalifa come 22nd September.
All indications confirm that the market is being buoyed by momentum that is sustaining demand. In this picture, the city will maintain its leadership particularly as it provides higher returns on investments.
So whether investing in a ready property or any one of the incredible projects that are in the making, Dubai is a really lucrative and exciting choice for anyone.
Click on Commercial Bank of Dubai which has arranged a financing of Dh200 million for the acquisition of Movenpick Hotel in Jumeirah Beach Residence
Source: Safura Abas, Special to Freehold
The writer is General Manager - Aston Pearl Real Estate