Landmark Properties, one of the UAE’s leading property consultancies, has released sales and leasing figures for the first 6 months of 2007 which reveal that Dubai Marina is beginning to dominate Dubai’s real estate market.
According to Landmark Properties’ sales figures from January 2007 to June 2007 Dubai Marina is comfortably ahead of all other developments in terms of sales while in residential leasing Uptown Mirdiff leads the figures.
“The full effect of Dubai Marina is starting to become apparent on the Dubai property scene. The level of enquiries we received in our Dubai Marina branch that result in transactions are extremely strong,” said Craig Johnson, General Manager, Landmark Properties.
Since opening its third branch at Dubai Marina in March this year, Landmark Properties has solidified its growing market share and witnessed high walk in business at the branch as a direct response to a growing client interest.
“Investors are increasingly considering Dubai Marina a viable option as the number of projects that are being delivered and coming online increases. The Marina still offers excellent potential returns on investment. Both locally and internationally, waterfront developments are in high demand and appeal to both end users and investors alike. Landmark Properties believes that the appeal of waterfront living will continue to attract investors and that Dubai Marina’s growing dominance of the real estate market will continue for some time to come,” continued Craig Johnson.
Second to Dubai Marina in terms of sales is Jumeirah Lake Towers. This high end development has started to become available with both residential and commercial interest driving activity.
While the greatest number of villas to be sold by Landmark Properties in the first six months of the year was in the luxury Acacia Avenue project, which offers expatriates the opportunity to purchase in the Jumeirah area for the first time along with the perennially popular Emirates Hills community.
“High end, free hold villas continue to set the pace in the market with supply not yet meeting demand in this segment of the market. This is a pattern Landmark Properties predicts will continue for the rest of the year,” concluded Craig Johnson.
