Dubai off-plan property deals soar 186% during Cityscape show

Big name developers record overwhelmingly positive sentiment from investors driven by the event's first onsite sales
By Staff writer
Wed 13 Sep 2017 02:16 PM

Cityscape Global has been the catalyst for a 186 percent increase in registered Dubai Land Department transactions of off-plan units, boosted by a year-on-year 25 percent rise in visitors.

Big name developers have recorded overwhelmingly positive sentiment from investors driven by the first onsite sales in the history of the real estate exhibition held in Dubai.

The region’s largest real estate and investment show, which concludes on Wednesday, hosted hundreds of local and international companies offering an array an exclusive deals on projects within the UAE.

When comparing the number of transactions for off-plan properties during the first day of Cityscape Global in 2016 and 2017, the figure has grown to almost three times the size, jumping from 37 to 106, a statement said.

Lynnette Abad, partner and head of date provider Property Monitor said: “Looking back at the opening day for 2016’s edition compared to 2017’s we can see a dramatic leap in the number of registered DLD transactions made for off-plan units.

Permission to sell during the show has seemed to catalyse investor and buyers in the region, and has resulted in a noticeable increase of activity.

“One of the reasons why off-plan has been so successful this year is because developers have found that winning combination of a very good final price point coupled with attractive payment plans. This has lured investors back into the market and opened an opportunity for end-users who couldn't afford to get on the property ladder before.”

Tom Rhodes, exhibition director for Cityscape Global, added: “We’re seeing a new wave of investors, end-users and home- owners attending this year, and with 25 percent more visitors than 2016’s edition, developers’ stands have been busy with activity.”

In addition to transactions onsite, up to 40 new project launches were announced during the show from developers such as Aldar Properties, Deyaar, Dubai Properties, Jumeirah Golf Estates, Nakheel and Meydan.

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