Dubai's realty market continues to witness rapid expansion

Sajjad Ahmad, Deputy Business Editor

Dubai presents a compelling proposition for real estate investment for international and Gulf clients. The persuasive blend of factors converging to form this enticing opportunity include the UAE’s tax-free environment, a thriving economy, a robust tourism sector, attractive, buoyant real estate pricing and the presence of top-tier developers to deliver a client’s dream home.

Together, these elements highlight Dubai as a secure, steadfast, and highly profitable destination for investments in real estate. In the same context, GRID Properties the real estate development arm of Gulf Islamic Investments group (GII), a Dubai-based alternative asset management company with $3.5 billion of assets under management, expects Dubai's real estate market to continue to witness a rapid expansion. GRID Properties has a development portfolio exceeding $930 million and collaborates with global brands like Elie Saab and Marriott Autograph.

They operate from their Dubai headquarters and are known for emphasising quality, integrity, and global standards in property development. “We at GRID Properties are focused on several landmark events this and next month. We will launch our Dubai residential development portfolio next month.

Before that, we expect to reach a significant stage later this month in our development of The Lucan property in the Royal Borough of Kensington and Chelsea, demonstrating that we are on track for our clients to move into those prestige properties in one of London’s most iconic locations early next year,” said Shreen Gupta, CEO of Grid Properties. GRID Properties expects the rest of 2023 and early 2024 to be an exciting time as its portfolio develops apace, and new clients and investors understand the compelling value proposition that GRID offers.

Its $930 million portfolio comprises 29 projects - 10 completed, 13 in progress, with 6 expected in 2023. They operate from their Dubai headquarters and are known for emphasizing quality, integrity, and global standards in property development. “At GRID Properties our differentiator as a property developer is offering “Styled for Living”, an individualised concept for our clients who are as at home in Dubai as they are in Chelsea. People base their lifestyles on personal values, interests, circumstances and goals, which can affect every aspect of one's life.

Critical elements such as home décor, clothing choices, daily routines and social interactions shape, reflect and support one’s favourite way of living. GRID Properties aims to support and enhance those choices, whether in the UAE or the UK,” added Gupta.

GRID Properties has a hybrid business model, with its portfolio encompassing a mix of activities. These include real estate development projects for residential towers, developing commercial spaces, and enhancing warehousing facilities for private realtors and investors. They also specialise in crafting customised villas and mansions for high-net-worth individuals.