Dubai, UAE – 25 October 2022: Unique Properties, one of Dubai’s leading real estate agencies has observed a strong demand for off-plan projects in the UAE. The company shares its insights, citing factors such as the strong potential for capital growth and return on investment (ROI), as well as a recent string of launches throughout the city.
Downtown Dubai, Business Bay, and the Dubai Water Canal are among popular locations that have seen off-plan developments spring up recently. There have also been several new off-plan projects outside of Downtown that are still situated in highly desirable locations including Dubai Hills, Nad Al Sheba, Meydan, and Dubai Creek Harbour to name a few.
Jumeirah was typically reserved for UAE nationals as a non-freehold area, however, the off-plan landscape for its surrounding area is seeing increased development. The recent introduction of freehold residential communities for non-UAE nationals is seeing a surge in popularity with Madinat Jumeirah, Central Park (City Walk), and La Mer projects being key focuses for expatriate residents and investors.
These strategically placed projects, and the premium amenities they offer, have spurred demand and a nearly 50% increase in their overall price tags. Despite this price jump, off-plan projects have remained increasingly sought out. In the first half of 2022, Dubai’s off-plan market reportedly saw a growth trajectory of more than 130% with over 130,000 units from almost 85 launched projects. There is no sign of a slowdown with the 2022 Qatar World Cup less than a month away, and global investors and high-net-worth individuals pursuing safe investment and relocation opportunities in the UAE.
Arash Jalili, Founder and Chief Executive Officer of Unique Properties, UAE HQ, says: “Off-plan properties are smart and effective investments. The transaction is mutually beneficial as developers secure capital for the construction of their project and buyers realize added value upon the handover phase. Though Dubai’s market is hot right now, both in terms of new projects in the pipeline and their costs, the potential for long-term ROI should remain.”
Globally, investors and potential buyers prefer off-plan developments due to their reliability and versatile payment plans, when compared to ready-to-move-in properties. In the UAE, valuable capital gains, buyer’s protection laws via the Dubai Land Department (DLD) and Real Estate Regulatory Authority (RERA), tax-free incentives, and a growing range of off-plan developments to choose from are among added benefits.
Unique Properties’ extensive market knowledge has steered the facilitation of countless transactions across Dubai’s residential off-plan segment. Their expertise has made them one of the most trusted real players in the UAE. The full-service award-winning agency also facilitates resale property sales and commercial and rental transactions.
About Unique Properties: Established in 2008, Unique Properties, one of Dubai’s leading real estate agencies is headquartered in Dubai, UAE. It is one of the region’s most reputable and multi-award-winning real estate companies. Founded by Arash Jalili, Unique Properties offers a range of services, including a consortium of premium hand-picked, off-plan projects and ready properties for sale and leasing. In 2021, Unique Properties contributed 4.5% to the total “off-plan” sales volume of Dubai and around 1% to the overall real estate economy of Dubai, which recorded transactions worth $ 82 billion (AED 300 billion). Through its multilingual and experienced consultants, Unique Properties provides reliable and exceptionally tailored real estate investment solutions to clients
