(MENAFNEditorial) Dubai re-enters the list of top cities for real estate investment rankings with volumes rising to AED 13.5 billion; The Property Show at DIFC attended by leading real estate companies, such as Select Group, Deyaar, Diamond Developers and Indigo Properties
The Property Show, a first-of-its-kind, five-day luxury property exhibition, opens its doors on the heels of the announcement that Dubai has re-entered the list of top cities across the world for real estate investments, after investment volumes in the emirate rose by a whopping 2,174.3 per cent, annually, to reach USD 3.68 billion (AED 13.5 billion). Dubai, previously ranked 186th in terms of growth, has made a mammoth leap to the 39th position, as per a recently released Cushman & Wakefield (C&W) report, highlighting Dubai as one of the world's hottest property markets.
'The recent launch of Select Group's Marina Gate II, where we opened to an extensive waiting list of pre-registered buyers, is surely a reflection of the market's increased momentum. This is indeed an interesting time for the Dubai real estate market, wherein customers are more conscious about quality, location and developer reputation', said Rahail Aslam, CEO of Dubai's Select Group. Adding, 'In sync with the series of positive responses, we are pleased to be a part of The Property Show'.
The Property Show is a unique platform for real estate industry leaders, service providers and key influencers to interact in a one-stop shop environment at the Dubai International Financial Centre (DIFC).
'This exclusive exhibition was conceptualised with the aim of showcasing the finest collection of luxury properties right on the doorstep of a high-income audience, allowing those who work within the DIFC and surrounding district to browse at their leisure and in their own environment', noted Ranna Mokhtarzadeh, Head of Sales at WorldSouq, the organisers of The Property Show.
Meanwhile, with Dubai taking the lead, GCC residential property markets have shown an overall improved performance over the last two years. The rate of increase in property prices in Dubai stands at 24 per cent, although in 2015, as supply is expected to outpace demand, Dubai's property sector may start to show increased price stability.
'The rising rate of investment in the real estate market is an indication of the confidence in Dubai's economic strength. This growth is further propelled by the World Expo scheduled to take place in the Emirate in 2020, which we are confident will further increase demand for property. Currently, market sentiments are driving prices, but the amount of supply will be the ultimate deciding factor in price stability', said Dev Maitra, CEO of Indigo Properties.
Through its five-day run, The Property Show will bring together the region's biggest names in real estate under one roof, at the DIFC. The high-profile developers exhibiting their products and services at the event include the Select Group as the Diamond Sponsor, Deyaar as the Platinum Sponsor, Indigo Properties and Diamond Developers as the Gold Sponsors, and Damac Group, Dubai Sports City, Omniyat Group, Select Property and SPF Realty.
'We believe that investment in real estate will continue to rise over the next few years in a steady and stable fashion, and this is in large part due to Dubai attracting investors from all over the world by hosting major and regular events, such as the Expo2020, which is increasing the demand for residential units. As Diamond Developers, we are looking to protect investors by developing economic sustainable real estate solutions', said Wassim Adlouni, Executive Director – Board Member, Diamond Developers.
With Dubai's property market growing in stability and security, and investments into the city on the rise, The Property Show presents the perfect platform to explore high-end investment options in the Emirate's growing real estate market.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.