UAE provides key opportunities for investors to park funds in realty

Inayat-ur-Rahman and Sajjad Ahmed

Cityscape Global 2019, the 19th annual edition of the gateway event for regional real estate investment opened in Dubai on Wednesday.

With major domestic real estate development companies represented across Cityscape Global, the show also features numerous country pavilions outlining property development and investment opportunities in Bahrain, Egypt, France, India, the Kingdom of Saudi Arabia, Oman, Pakistan, and Russia, Turkey and the UK.

Gulf Today spoke to various exhibitors on the opening day of the event. The exhibitors are upbeat about this year’s event.

Kashif Ansari, CEO, IQI Global says that he is quite positive about the market which is providing exciting opportunities for sophisticated and smart investors to park funds in real estate.

According to IQI strategic market intelligence report: investors are more inclined towards dealing with developers to get long term payment plans.

“Moreover, Dubai Government is making significant plans in marketing branded residences and serviced apartment to meet expo 2020 demand. This would also provide boost to the hotel and hospitality industry.

“Government has taken important decision in providing 3 years visa for investors by paying 20% payment for Dhs1 million property,” Ansari concluded.

Shan Saeed, Chief Economist IQI Global shared his thoughts about oil market which stands between $73 and $107/barrel. The energy market is still very hot as oil is moving into backwardation phase. He mentioned that the Dubai property market is on solid growth track and is marching ahead.

RAK Properties showcases the latest developments in its Gateway project, and the progress on the Marbella Villa project.

 Located on the serene main island at the heart of the Mina Al Arab community, Gateway Residences provides easy access to the vibrant adjacent island.

 Built along the beachfront in Hayat Island at Mina Al Arab, Marbella Villas offers spacious luxury 2, 3, 4 & 5 bedroom villas and townhouses boasting of extraordinary facilities and services all inclusive of covered and open parking spaces featuring a contemporary interpretation of the traditional Arabian courtyard.

RAK Properties Managing Director, Mohammed Sultan Al Qadi, emphasised the importance of participating in the Cityscape Global, one of the region’s largest real estate development event, providing a platform to learn about the latest industry developments, discuss the latest updates with experts, stakeholders and decision makers whilst expanding cooperation with industry professionals.

 He added: “We are looking forward to highlight our major residential and hospitality projects to individual and corporate investors, while promoting the emirate of Ras Al Khaimah. These new and vibrant projects will go on to become iconic and landmark destinations in the Emirate. We will have exciting offers for those seeking homes in the luxurious Gateway and Marbella Villas located in Mina Al Arab and Hayat Island respectively.”

 Ali Hamdoon, Director of Marketing & Sales, RAK Properties told Gulf Today that construction work of  Gateway project is around 85 per cent completed and over 80 per cent the project is  sold out, adding that it would be delivered by end of this year.

Al Thuriah Group , the UAE’s eminently trusted and successful property developer is also exhibiting at the event.

The developer has joined forces with Bank of Sharjah in its latest project; Muweileh Community.

Muweileh Community will sit right next to Sharjah’s beautiful University City in the suburb of Al Jurainah, the heart of Sharjah, considered by many to be one of the most significant Iron Age sites in the UAE. Over 21 schools, 17 universities and around 20 significant landmarks will surround the community, making it the perfect location for students, professors, academic staff, and others wishing to live in this popular area. The community is defined by its exclusive monumental finish that reflects the modern image of Sharjah.

Muweileh Community comprises of 8 superb residential buildings in two distinct designs. Type A for corner plots and type B for inner plots; each consisting of a ground floor, 2 parking floors and 5 residential floors , each floor consisting of 11 unique, sophisticated and luxurious apartments,for a total of 55 apartments; sizes for studios  Studios start at 820 sqft. up to 1830 sqft. for 3 bedrooms. Georges Khouzami, COO of Al Thuriah Group; “An investor purchasing one of our buildings can be confident that they are given absolute precedence over all else. Our standards are high; this is a matter of pride for us from the quality of materials used to ensuring deadlines are met without fail. Everything is taken care of by one of our companies such as Al Thuriah Properties, Al Thuriah Construction, Al Thuriah Leasing and Al Thuriah Facilities Management. Once an investor has purchased one of our buildings he can leave all the day- to- day running of it to us and enjoy a hassle free investment with high returns.”