The variation in the quality of real estate projects and their difference is one of the systems recognized in real estate markets that adopt a method of competition between developers to stimulate the activity of the market, where this variation stems from the pattern of the owner’s thinking and his view of real estate investment from the angle of excellence in the product to reap high returns, and his good understanding of the relationship between supply and demand in The market and its impact on its investments.
Among the elements that make up the supply and demand equation, Exclusivity in real estate production, and this element of the secretariat has become almost absent in the Al Jaddaf area, two of which are not different from the attractiveness of its strategic location, a distance of seven minutes from the Burj Khalifa and four minutes from Dubai International Airport, in addition to its main entrances from Al Khail Street and Sheikh Rashid Street. Based on this site, Al-Jaddaf should have been extremely important for investors and received a success comparable to the success of local areas, such as Al Barsha and Al Nahda in Dubai, but this did not happen.
Some people may ask: What is the reason for this? The reason is very simple and can be considered due to lack of investment awareness or limited thinking. Al Jaddaf area appeared on the investment map in Dubai almost since 2006, and the price of a square foot in it was estimated at 350 dirhams, to reach its peak in 2008 and the value of one square foot reaches about 1850 dirhams, while its current price ranges around 500 dirhams. In 2014, the region began to appear in terms of the pace of construction and the number of real estate projects under development, and today the region registers countless real estate projects, but all projects lack excellence and an innovative touch in construction to attract customers.
When you go today to preview residential projects in Al Jaddaf, you do not find a distinct project with its designs or color that attracts your attention and captures your interest, as they are all similar projects subject to the rule of "copy and paste", as if the owner of those projects is one person and the reality is otherwise. This is the point at which we must stand in explaining the failure of the Jaddaf area to achieve the sale and rental deals of housing units befitting its privileged location on the map of Dubai, because the defect is not on the site but in the project itself, and the main cause is the owner alone and no other, and the lack of awareness during construction And between brackets here we can refer to two types of owners: the smart owner who uses the expertise of experts and studies carefully what the market needs to provide a distinctive real estate product that makes it on the list of the most requested real estate in the market, and the indifferent and little resourceful owner who executes his project without referring to the experts and studying the market needs and quality Units required in terms of areas and rental returns, producing a traditional property that does not live up to the current market aspirations.
If we come to the reality of Al-Jaddaf projects today, most of their owners were of the last type, they did not rely on market studies in the implementation of their projects and determine their quality to bear the results of accumulation today, and they blame the market in Dubai and the region is not desirable, and this is not true, so one of them will try today A plot of land in Al Jaddaf and its development with a unique and distinct project that does not resemble the existing projects in it, then to see where the defect is actually, in the region or in the project itself! We always go back and say that the principle of successful real estate investment is knowing what the market actually needs.
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