Top 5 Dubai Real Estate Developers

Good property developers are few and far between. If you plan to purchase a property in Dubai, the first thing on your list should be to find a reliable property developer. It is the most important fact in terms of buying a property that will serve you in the long-term. Choosing a top property developer may be the difference between making a sound investment or losing your hard-earned money. 

Emaar Properties

Emaar Properties is a premier property developer in Dubai and is a trusted and valued real estate development company worldwide. They have a proven track-record in high-quality real estate developments in the hospitality, leisure and retail industries. Their ultimate focus is on the excellence of design. Emaar prides itself on being innovative by providing their clients with superior quality homes and establishments since 1997. 

Meraas Holding

Meraas Holding is an exclusive real estate and property development company. Their properties and locations are some of the most sought-after in Dubai. Their real estate portfolio is prolific, with the goal to deliver the highest quality developments on time. The company collaborates with world-class partners and delivers comprehensive innovations. In a great city like Dubai, Meraas Holding is focused on elevating its status as one of the most attractive places to reside and work in the world. 

Dubai Properties Group

As a top real estate developer, Dubai Properties Group is recognized for masterful planning of one of the fastest developing cities. Their goal has always been to create a location that delivers an exciting lifestyle. They are one of the most innovative and largest real estate developers in the city. They provide end-to-end real estate solutions to their clients by creating mixed-use developments that are enriching and highly diverse.

Nakheel Properties

A leading real estate developer, Nakheel aims to realize its vision for the modern century. With the goal to create world-class living, they have a wide iconic portfolio in residential, leisure, retail and hospitality sectors. They are a top choice for residential and commercial properties and have an extensive choice of development in vibrant communities which include the Palm Jumeirah, Dragon City and Jumeirah Islands. 

Damac Properties

Damac Properties creates a lifestyle that makes every moment count. Enjoy luxury homes within spectacular communities surrounded by lush greenery, stunning views and beautiful parks. They build properties that create a sense of belonging through their bespoke homes. They present creative and innovative properties that encompass a signature style. It is their luxury of brand that is well cemented and a reputation for building high-end homes.

Dubai Holiday Homes Need More Room to Flourish

A limiting conditions of any kind in terms of locations or choice will harm those chances:

Short-term rental accommodation, or Dubai holiday homes, has been a hot topic of discussion over the past couple of weeks, first because of Emaar Properties’ entry into the space with its short-term rentals platform Ease by Emaar, followed by the developer banning such stays in its Downtown Dubai community.

Apart from the fact that the move comes towards the end of summer when operators are gearing up for a high-traffic season, there was little time between the announcement and the deadline for implementation. The Department of Tourism and Commerce Marketing, which has regulated this market in 2014, has not yet issued an official perspective.

The “sharing” economy

The sharing economy is taking off with services like co-living, co-working and ride-sharing changing the way of life. These services are at the heart of the digital revolution, a cause that Dubai seeks to champion as it strives to become the smartest city in the world. Also, as millennials and Gen Z make up a higher proportion of consumers, it is increasingly important to cater to their preferences of lower prices, convenience and flexibility — key features of a sharing economy.

Not just for overseas visitors

Apart from tourists, who are attracted to the prospect of having a wider array of accommodation to choose from, regional and global corporate who bring their executives on a short- or long-term basis to business hubs like Dubai are another important target group for short-term rental providers. The Expo 2020 will likely further attract business visitors to the emirate, translating to a spike in demand for temporary, if not permanent, housing.

Add to this, the government’s target of 20 million visitors to Dubai by 2020, and the potential for expansion in the market becomes even clearer.

A bonanza for landlords

In a market which has struggled with low rents and property values for months now, landlords will naturally look for ways to optimize the income-generation ability of assets. Short-term rentals thus prove to be a lucrative option for landlords as they serve as the interim solution for residents until they transition to a long-term rental scenario.

Our clients too are exploring converting residential buildings, either entirely or partially, into holiday homes to benefit from higher yields offered by this segment of the market.

Favorable Numbers

The numbers also point to the direction of growth. According to figures from short-term rental data provider AirDNA, between June 2018 and June 2019, active home listings in Dubai grew 69.5 per cent, compared to a 7 per cent growth in hotel rooms during the same period.

With Airbnb launching an Arabic website, and investment firms such as IBC Group announcing plans to furnish and manage 10,000 premier holiday homes in Dubai, operators and investors alike are betting big on the space.

Latest Updates on UAE Work Permit & Visa Rules

Everyone including businesses have hailed the UAE’s visa reforms that allow men under their family’s sponsorship to get work permits.

According to new rule that came into effect from Sunday 28th July 2019, husbands, fathers and sons can get jobs without necessarily being under the company’s visa.

Dr Omar Al Naimi, Assistant Undersecretary for Communication and International Relations at the MoHRE, said the new rule “allows women working in the UAE to bring their family members and sponsor them, irrelevant of their professions”.

“It only sets a minimum salary for that sponsorship. It also broadened the scope of the women able to bring the family members (husband and children),” said the official.

Families and businesses said it is a progressive reform.

Expat families said they are relived as it adds another earning member to the family.

Here are some of the key facts about this new scheme:

FAQ’s:

Q: Who is entitled for the work permit?
All men who are under their family’s sponsorship are eligible.

Q: Does that also include men who are sponsored by their wives?
Yes, men sponsored by their wives can get work permit.

Q: Are men/fathers sponsored by their children eligible?
Yes, all men — fathers, young graduates — are eligible.

Q: Are all working women eligible to sponsor their male family members? Or is this open to certain professions?
The new rule applies to women of all professions. However, a minimum salary requirement is applicable.

Q: Can men of all age groups get sponsored by their female relatives?
Apart from professionals, work permits are available for teenage students as well. There are work permits of juveniles aged between 15 to 18 and also work permits for trainee students between 12 and 18 years.

Q: Where can such work permits be obtained?
At all centres of the MoHRE.

Q: When will the government start implementing the work permit?
It took effect as of Sunday, July 28.

Q: How is this work permit different from previous sponsorship rules?
Previously, only women who are sponsored by their husbands or fathers could get work permits. Men were exempted.

Q: How does this new rule benefit companies/employers?
Companies can now hire employees locally without having to incur employment visa expenses.

Sources: Khaleej Times News

Real Estate Prices Continue Moving Down in Dubai

It is safe to say that the real estate market in Dubai has faced a challenging time. Real estate property prices have been fluctuating in the last decade. Real estate property is at the forefront of Dubai’s economy, and plays a pivotal role. With the financial crash that impacted all the strong markets worldwide back in 2008, Dubai was one of the first to adapt quickly to these changes and remain a stronghold in real estate. However, this did not completely stop the dip in real estate prices.

The UAE Government Intervened

What the UAE government did after the financial crash was to make Dubai’s real estate a commodity. The real estate market has become fairer in terms of pricing and a more affordable market for buyers. Housing is within reach for residents in Dubai, and an attractive option for foreign nationals. The UAE government has introduced initiatives to assist the growth and stability of the real estate market, in order to have a long-term impact. This has strengthened the growth from buyer’s drive and made the real estate market affordable, thereby instilling confidence in investors.

The UAE visa regulations have given a new lease to the market as well. With real estate properties being more affordable, more and more people view it as an attractive option to purchase property in Dubai. This is not only for wealthy investors but also individuals who are looking to live and own property in Dubai.

Real Estate Categories That Were Impacted

One category to see a decline in prices remain to be the one-bedroom apartments and studio apartments. Dubai villas continue to float a flat price, while the three-bedroom villas sport a median asking price. In May alone, it was recorded that the average price for apartments remained stable at AED 1.7 million, while the prices for villas decreased to AED 4.4 million.

All these statistics will benefit investors and tenants. The downward price trend from 2018 has continued into 2019’s first quarter with prices for villas and apartments down 1% and 3% respectively. This has softened the sales in apartments and villas, as well as the rental sector. It is likely that this trend will continue with real estate property developers offering buyers financial incentives and innovative approaches.

The Rental Market Incentives

The rental market has given way to plenty of choice for tenants in Dubai due to the dynamic of supply and demand. With the idea to attract tenants and retain them, landlords now offer attractive incentives such as waiving off the security deposit and providing a rent-free period.

How EXPO 2020 Can Turn Things Around

The good news is that property prices will not bottom out in 2019. EXPO 2020 is certain to boost Dubai’s real estate market. While developers expect property prices to continue to dip, the slump will start looking up by 2020. Experts expect prices to start stabilizing in 2020. The increase in activity that is expected at EXPO 2020 with over 25 million visitors set to arrive to the city will hopefully have a strong effect on the real estate market.

Top 10 Areas With Off-Plan Property in Dubai 2019

Dubai is currently the best place to live, work and reside in. Statistics prove this fact time and again, with its sound political, social and economic infrastructure. If you want to invest your money, there are a plethora of options that the city can offer, none more so than Dubai off-plan properties. Here are top 10 areas with off-plan property in Dubai.

Dubai Creek Harbour

Dubai Creek Harbour is a large real estate development that is located on the bank of Dubai Creek. The development overlooks the Dubai skyline. The surrounding is tranquil, serene and natural with a vibrant atmosphere. These are grand homes in one of the most prestigious districts. With Dubai Creek, you can uncover superior access and an unparalleled life. Read More

Emaar Beachfront

Emaar Beachfront is a seafront dream, located on the Dubai Harbor’s Palm Jumeriah. It is a newly launched development that provides you with an ultra-modern lifestyle. You can enjoy the deep blue waters, scenic views and a wholesome lifestyle while taking in Dubai’s beauty. Read More

Port De La Mer

This is a fantastic off-plan property area if you want to move away from the crowds. It is located within the Marina and has a feel of being away on an island. Indulge in the Dubai skyline and panoramic views of the sea. It is truly one of kind special place to call home. Read More

Madinat Jumeriah Living

Enjoy luxury living at its best with access to exclusive freehold residences surrounded by magnificent, natural landscape and amazing walking paths. Madinat Jumeriah offers classical architectural lifestyle in a premium location. Read More 

Golf Suites

Picture haven Dubai off plan properties where indulgence meets comfort and lively visits to the golf course. You can build your home overlooking scenic views of stunning palm trees and meadows. If you want a privileged lifestyle, you’ve got it with Golf Suites.

Amalfi Villas

Serenity, elegance and lavish living is what best describes Amalfi Villas. If you want to reside on the beach, this is your ultimate destination. It is a genuinely private life, away from the hustle and bustle in a top neighborhood. With Amalfi Villas you can uncover a grand home and an unparalleled life.

Mohammed Bin Rashid City 

Another hotly anticipated latest off-plan project is situated in Mohammed Bin Rashid City.  Referred to as the New Downtown of Dubai, you can indulge in a residential style of international standard, state of the art architecture and recreational facilities in its upscale villas. Read More

JVC or Jumeriah Village Circle

In just a few years, JVC will become an ultimate destination for Dubai off plan properties areas. It will come complete with state of the art amenities, but what is attractive about this option is its affordable price tag. The area will feature international retail brands, rooftop clubhouse and fabulous restaurants.  Read More

Dubai South

Dubai South is an ambitious project in the latest off-plan projects and a vision of His Highness. It is also the official site for Dubai’s Expo 2020. This off-plan site will integrate commercial and residential properties accompanied by top amenities. It also has a great price tag for investors looking for affordable off-plan properties areas. Read More

Palm Jumeriah

This is an iconic landmark on Dubai’s map. The island appears in the shape of a stunning palm tree. Large and professional families who want to reside on the luxury beachfront with magnificent sea views and spectacular leisure options will find Palm Jumeriah a vibrant and self-sufficient community.  Read More

Jumeriah Lake Towers

Jumeriah Lake Towers are high-rise, residential and commercial buildings and considered one of the most popular neighborhoods to live in. If you want to invest in off-plan properties in this area, it is one of the best and most affordable for residential properties, and opposite the stunning Dubai Marina. Read More