Demand for real estate in the UAE remains strong, with both investors and end users making a beeline for the R&R Local Property Show which took place last weekend at the Crowne Plaza.
“The R&R Local Property Show has truly come into its own now, with both exhibitors and visitors trusting the value and opportunities this exhibition offers,” said Tessa Morris, Marketing Director, DSL Exhibitions. “Now, this is a truly UAE wide showcase of properties and has become a must for anybody who wants to have a 360 degree view of this market. As one of the oldest property exhibitions in the UAE, it is also a fair gauge of market sentiment. During the show we saw an even larger number of visitors than at our earlier shows as well as brisk business being transacted, a clear indication that we are nowhere near the peak of the market. Investor interest is clearly the major factor as both institutional as well as individual investors still see an opportunity for gains. However, end-user confidence is also contributing significantly to the demand.” said Tessa.
Focus was not just on Dubai but the booming market of Ajman where demand for more affordable properties coupled with good payment plans direct from developers has made investing in Northern Emirates a very viable opportunity. Platinum Sponsors Chapal World had an extremely successful show; “There is huge potential for growth and expansion in the Northern Emirates. Continuous influx of high number of people finding long term financial success in Dubai has created a sizeable demand for affordable housing in the neighbouring Emirates.” said Khurram Wahid, of Chapal World.
Ken Blunt International Consultant from Al Ajouz Real Estate Brokers commented that the “majority of buyers of Al Sedra Towers, Ajman were purchasing as an investment for the future of their family and for strong capital gains over a 3 to 5 year period.”
When questioned on why Ajman was experiencing such a boom, Hunaid Lakhani – Managing Director for BL Properties said many elements were helping drive sales, but in particular for BL Properties, “location, elevation, finishes and affordable payment plans were the key factors driving sales”.
“The advent of RERA and their patronage at this show has given us, as organizers, as well as our exhibitors and visitors, even more confidence in the market with deal flow becoming more transparent and consumer focused,” said Tessa. “This show was the first to be held under the patronage of RERA and it has obviously given consumers confidence. The market has ‘grown up very quickly’.”
