2018 Predictions: Fred Durie, CEO, Nshama

Real estate: a new way of living for a new Dubai
2018 Predictions: Fred Durie, CEO, Nshama
Affordability: Nshama will continue to develop its mid-income projects
By Fred Durie
Thu 11 Jan 2018 03:12 PM

The past few years have been momentous for Dubai. Winning Expo 2020 energised the economy, welcoming diverse and youthful professionals, who now call Dubai home. A second trend was the focus on digital transformation – led principally by its tech-driven youth. Dubai’s core economic sectors such as retail, tourism, aviation and hospitality also grew, underlining its credentials as a global hub.

But there has also been a not-so-subtle shift in the property market: the rise in demand for middle-income housing, a shortage that went largely unaddressed until Nshama took the bold step of affordable homes within trendy neighbourhoods.

In 2017, we delivered Zahra townhouses. And with the Town Square Park we created a new benchmark in affordable development.

We are not resting on the success. With entrepreneurship opportunities and digital technologies reshaping the way we work and live, the real estate sector must embrace these changes. That is why we launched a new co-living and co-working concept, UNA, in Town Square Dubai, where residents can enjoy a wide range of creative, recreational and collaborative pursuits.

UNA reflects what our new generation seeks: a social destination that can add quality of life without the fuss associated with traditional ‘apartment-living’. It suits the requirements of the digital-savvy youth of our times, who value effortless mobility and connectivity. By serving as a go-to destination for creatives, UNA is supporting them with the opportunity to own a place where they can build both their dreams and careers.

Many have debated how middle-income professionals can invest in own homes. We have proved that it is not only feasible but they do not have to cut corners in doing so. After all, Dubai is not a short-haul destination for most of its residents. It is a city that helps them grow – professionally and personally.

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Last Updated: Thu 11 Jan 2018 07:51 PM GST

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