In pictures: The latest property launches in Dubai
While the market may be challenging at the moment, it has not put developers off unveiling new projects. From affordable housing to high-end development, we take a look at the announcements which made headlines recently.
From affordable housing to high-end development, we take a look at the announcements which made headlines recently.
Affordable housing: The founder and chairman of Dubai-based Danube Properties, Rizwan Sajan, has dismissed suggestions that his latest development, which is set to bring 741 residential units to the market, will further fuel fears of oversupply in the emirate’s real estate market. Olivz is the latest project announced by the developer, made up of a mix of studio, one bed and two-bedroom apartments.
Towards healthy living: Deyaar Development has announced the launch of Noor, the third district in its Midtown mega project in Dubai. Noor district comprises seven buildings with 593 units, including studios, one-, two-, and three-bedroom apartments. Prices start from AED480,000. Midtown residents will also enjoy amenities that cater towards a fit and healthy lifestyle.
High profile project: Ellington Properties has announced it is accelerating the development of Belgravia III, a trendy residential destination in Jumeirah Village Circle through its partnership with construction firm Dutco. With all approvals secured already, resources have already been mobilised on-site and work will commence shortly to fast-track the project.
In the heart of the city: Sobha Realty, the UAE-based premium real estate developer, has announced the launch of its Creek Vistas Reservé Tower, the latest project in Sobha Hartland, the 8 million sq ft development situated in Mohammed Bin Rashid Al Maktoum City. The developer said the launch follows the high uptake for units in the previous Creek Vistas towers by Emirati nationals and Arab buyers.
Real estate outlook: Property prices in Dubai are forecast to stabilise in 2022, according to a poll of analysts. Price declines in the emirate are set to slow to 4 percent this year and 1.3 percent next year, said the poll conducted by Reuters. This compares to several reports from consulting firms which showed average Dubai property values dropped by more than 10 percent last year. Analysts said they are optimistic about prospects relating to Expo 2020, which Dubai will host for six months from October. Image: ITP Media Group