UAE fit-out market to hit Dhs3.4 billion by 2022

Inayat-ur-Rahman

A Faithful+Gould’s report forecasts the UAE fit-out market to reach $973.4m (Dhs3.4b) by 2022. At the same time, the renovations and refurbishment market in UAE is on the rise. Experts estimate renovations can add between 10-15% to the selling price, something that is promoting a lot of owners to remodel and upgrade their older properties.

With close to two decades of real estate experience in the emirate, Ahid Shaikh, along with the other founders of BnB, identified a gap for reasonably priced luxury fittings in the industry. Shaikh, who is also the chairman of Déjà vu Real Estate, said, “There are two clear segments where we see a need gap. One is homeowners, who are seeking a classy and cosmopolitan look for their new homes, or looking to upgrade existing properties to increase valuation and ensure a steady return on investment. And the other is Dubai’s growing residential & commercial projects market”.

Shaikh believes Dubai’s growing leisure, retail, dining, hospitality & entertainment destinations, that are built with ‘experience’ at their core, need products that exude class but are also functional, low on maintenance and durable for heavy-use. And he feels BnB fits that niche well. Shaikh also sees a huge market for refurbishment, not only in older communities such as Meadows, Springs, Emirates Hills, but even in the 25 million+ shell & core Dubai Hills villas as well as the Jumeirah Island and Palm Jumeirah Mansions. “Real estate is one of the biggest investments in your life. Property needs look beautiful and should be upgraded regularly for it to retain and enhance its value,” he adds.

Bianca & Bianco, a new concept of affordable luxury porcelain slabs, tiles, and exclusive bath & kitchens solutions, is set to launch its first showroom in Dubai today.