Dubai Weekly Property News Round Up – 06.08.22

Dubai Weekly Property News Round Up – 06.08.22

Hello,

I hope you have had a productive week. At Track Capital we have been discussing the importance of investment packages offered by developers to prospective buyers.

Attractive payment structures, assured rental periods, unit discounts and premium furniture packages are just some of the ways that developers can build investor confidence in buying off-plan.

Are you interested in the incredible range of incentives available from our Developers? Reply to this article today.

Now, let’s take a look at all the headlines that caught our attention this week. I always try to summarise the links to save you from having to click through.

Episode 45: Property & the Human Battery Charger – Jo Lightfoot – The latest episode of the Pure Property Podcast is out now. You can listen to it on Apple Podcasts and all other major platforms.

Remember, you can also listen to this week’s newsletter on the podcast as well.

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Property Headlines This Week

  • Demand and Supply Both Healthy for Dubai Real Estate – The UAE Real Estate Report recently published by Asteco shows Dubai’s market strength as it continues to rise despite the mounting pressures of inflation, supply issues and global political influences. The report revealed an upward trend in both supply and demand in the emirate, with the first half of 2022 recording a host of successful and highly anticipated project launches, supported by an equally strong secondary market. The new launches have come at an opportune time of growing investor confidence in the Dubai property market. Despite warnings of rising construction overheads and supply chain delays running a heightened risk for developers, investors should remain largely safe as most Dubai projects have construction milestone-related payment structures. This setup works to incentivise developers to complete their projects either on or ahead of schedule.

 

  • Dubai’s New Legislation to Boost Overseas Investor Interest – In an effort to grow real estate investment, Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum brought a new law into force on July 19 that will grant special privileges to property investment funds. This type of fund works by investing in securities offered by public real estate companies. In comparison, a real estate investment trust is traded in the same way stock is traded and invests directly in revenue-producing real estate. The new law will cover all government-licensed and regulated real estate investment funds, as well as those covered by free zones and private development zones. The law is intended to help encourage real estate funds and property investors to enter the Dubai market, with property investors also enjoying privileges associated with the new legislation. It should also work to increase transparency within the industry.

 

  • Scramble for Quality Office Spaces Boosts Prices by 10% – Savills Dubai Office H1 2022 report has revealed that the value of commercial rental units has risen by 10% during the first half of this year, bringing it to a 13% price increase year-on-year. This uptick has come amid a rush for premium office spaces set inside grade A developments. According to the report, a range of commercial markets are now experiencing rising rents, such as social, environmental and governance-compliant spaces. The data also revealed a new drive for more flexible office and working spaces, with co-working areas and serviced offices being particularly popular. This has emerged as more companies search for ways to reduce their expenses and new businesses test their operation needs and capabilities within the city.

 

That is all we have for you this week. If you have any comments or questions on this week’s news summary then please feel free to send us an email at [email protected]  – if not, see you next week.

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