Affluent individuals, international investors, and locals eagerly invest in upscale developments offered at prices lower than those in comparable global metropolises.
Property projects in the UAE are still flying off the shelves, often selling out within days, if not hours. Despite forecasts of slower growth in the real estate market this year following a robust rally over the past three years, demand remains strong. High net worth individuals, foreign investors, and residents are expectedly leading the charge, eagerly investing in the latest luxury projects to take advantage of comparatively lower prices compared to other major cities worldwide.
Within just 36 hours of its release, Wasl, the prominent property development and management firm, successfully sold all 600 units of Park Views Residences Tower A. This 42-story tower, located within the Wasl1 master development, offers breathtaking views of Zabeel Park in Al Kifaf.
Mohammad Al Bahar, head of business management at Wasl, highlighted that the substantial turnout at Park Views Residences is clear evidence that projects boasting high quality, prime locations, and appealing prices constitute a successful formula for attracting both buyers and investors.
Wasl1 represents a master development featuring 13 versatile towers, encompassing more than 3,500 residential units and 150,000 square feet of retail space.
Abu Dhabi’s Aldar Properties announced the rapid sell-out of the initial two phases of Haven by Aldar, with over three-fourths of the units purchased by foreign investors and expatriate residents. The leading developer introduced 468 units in phase one and 318 units in phase two, resulting in a total sale of 786 villas and townhouses and generating sales exceeding Dh3.1 billion. This marks the company’s debut residential project in Dubai.
Muhammad Binghatti, CEO of Binghatti Holding, recently informed Khaleej Times of the successful sale of their high-end apartments in their latest projects, with prices starting at Dh20 million and above.
“We’ve surpassed the 50 percent mark in Mercedes-Benz sales. Despite a starting price of Dh20 million, Bugatti has performed exceptionally well, with 30 units sold since last month. Additionally, around 25 units were recently sold at Burj Binghatti Jacob & Co Residences,” he added.
Likewise, Danube Properties has experienced swift sales for projects such as Oceans shortly after their launch.
