Out of the box

New projects between competitiveness and product quality

Over the past few weeks, Dubai has witnessed the launch of several real estate projects, covering most areas of the emirate: Al Jaddaf, Business Bay, Palm Jumeirah, Jumeirah Village Circle, Sheikh Zayed Road, Arjan, City Walk, the suburbs of Dubai Sports City, Nad Al Sheba and its environs.

Thousands of different housing units were launched across these areas, varied between apartments, villas, and "townhouses"... An unprecedented fever on the part of developers to launch new projects reminiscent of the years 2014 and 2015, which were witnessing an acceleration in the launch of real estate projects.

Undoubtedly, this pace of releases has its reasons, and each developer has its own motives and justifications for launching, especially villas and “townhouse” projects, as the market suffers from a weak supply for this type of unit, due to the high demand for it.

The beautiful thing is that some companies have announced the sale of all units of the project they launched within a few hours of launch, while other companies continue to sell their projects.

The expected scenario in the market against the background of these projects, knowing that there are other development companies in the process of preparing to launch new projects during the coming periods, that the off-plan sales market will return to the fore after years of decline, thanks to the abundance of ready-made properties, and the amount of these projects In a short period, it suggests to real estate market analysts the level of recovery achieved by the sector, and an indication that the market has run out of stock, and it is time to replace it.

The truth is that it does not matter the amount of real estate projects offered in the market, and it will not constitute an obstacle to the supply, if the real estate product is characterized by uniqueness and quality in design, and this is what it should be.

The sector can no longer tolerate more similar projects, and excellence is the only difference in the success of these projects, because excellence and exclusivity are part of the diversity of opportunities that the local real estate market has long enjoyed.

Today, the sector needs smarter projects that adapt to the daily lives of individuals, because the nature of market dealers has changed, their types and tastes have changed.

The consumer is looking forward to the home and the residential community, in which he finds everything that meets his desires and those of his family members.

In this type of projects, the real estate sector has made great strides in it, which has increased its attractiveness and attraction to investors, however, the issue remains on the table at all times: creativity and innovation in offering and designing to meet the aspirations of investors..

The dealer or investor is the main controller in the real estate market, and if it weren’t for the dealer, there would be no real estate product. Therefore, I invite every developer who wants to put forward a project, on the grounds that another similar developer’s project succeeded, and it was sold in hours, and I tell him: “Before you put your project up.” Think about what the customer needs, what is missing from the projects that were presented before you, and the appropriate place for the type of your project, three points that make your project distinct, and thus add value to the real estate sector with your project.

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