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Damac projects ... to offer aspirational luxury living alongside high quality serviced apartments.

Dubai market conditions 'ideal for property investment'

DUBAI, October 7, 2015

The current market conditions in Dubai, UAE, are conducive to sustained investment, with real estate prices almost 25 per cent below the 2008 peak, said an industry expert citing a recent report in the Financial Times.

Despite a short-term drop in some areas, major projects in the city such as Dubai Marina, the Palm Jumeirah and Jumeirah Lakes Towers had not been affected in a big way, stated the report.

According to the report, the yields of seven per cent gross are now realistic, ensuring that investment activity remains healthy with the emirate set to attract growing demand as a safe haven for real estate investment, thanks to relaxed laws and clear regulations.

"Everything coming out of Dubai points towards a market conducive to future growth, in a safe and well regulated environment. Despite short-term fluctuations in pricing, we are still seeing healthy investment flows into the market, and the tourism increases give further weight to the predications that Dubai is on the right path," remarked Ziad El Chaar, the managing director at Damac Properties, citing the report.

The article is supported by the recent release of tourism figures for the emirate, which show a nine per cent rise in the first half of this year.

Dubai Tourism & Commerce Authority (DTCM) stated that the total number of visitors who entered Dubai during the first half of the year 2015 reached seven million.

The report highlighted two important factors attracting visitors to the city: safety and comfort. The report also confirmed that Dubai is the first in the world in welcoming visitors helped by the various transportation facilities available at Dubai airports provided by the RTA (Roads and Transport Authority), said El Chaar.

"The increasing number of visitors to Dubai is also a strong indicator about the city’s appeal to people from all over the world. With the numbers growing year after year, the hospitality sector in Dubai, and the real estate industry in general, will see a huge boost," the official stated.

“The positive activity on the travel and tourism front justifies the high demand on accommodation in the short, medium and long term, with Dubai set to host over 20 million visitors in the year 2020," said El Chaar.

"Our model to offer aspirational luxury living alongside high-quality serviced apartments - through the Damac Maison and NAIA in key touristic areas of Dubai - has been shown to provide the best investment opportunities to buyers looking to access this booming city," he added.-TradeArabia News Service




Tags: Dubai | Damac | investment | property |

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