Tuesday 11 December 2018

Dubai's property market 'set for next growth curve'

DUBAI, October 4, 2016

Dubai's property market is about to start its next growth curve and the time is now ripe for investors with a mid to long-term mindset to take the plunge, according to Knight Frank, one of the city’s leading property firms.

Despite a two-year period in which property prices in Dubai have cooled and stabilised, Knight Frank has moved to predict a recovery in 2017.

According to its latest Dubai Insight report published in September, the real estate expert sees the residential market levelling out by the end of the year before making a gradual recovery in 2017.

This is supported by continued government spending on infrastructure and facilities, in preparation for the Expo 2020, it stated.

With Dubai’s property sector all set to recover in 2017, SRG Holding, one of the leading family-owned holding companies in Dubai, believes it is a 'great time' to launch its latest project - Dh700-million ($191 million) Marquise Square - in Business Bay, Dubai.

A striking 29-floor development, Marquise Square will boast 384 residential units with impressive views of the world-famous Burj Khalifa tower on completion in 2018.

Just seconds from the waterfront of Dubai Canal, Marquise Square will feature a podium-level swimming pool, hitech gymnasium and cinema room.

“We feel that, after a period of stability over the past two to three months in the market, we are now reaching a point in time where we are about to see the next growth curve in Dubai,” remarked Adam Price, Select Property’s managing director for the Middle East.

“With Expo 2020 on the horizon, it’s a great time to be launching Marquise Square,” stated Price.

"For us, it’s a very straight-forward decision. We’ve always had unwavering and the utmost confidence in Dubai as a world-class location for investment and lifestyle. The market fundamentals here, we feel, are very strong," he added.-TradeArabia News Service

Tags: Dubai | property market | growth curve |

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