Finding the green shoots of recovery in Dubai's property market

 Look closely enough and you'll discover areas in Dubai that are seeing price stability and even values increasing

One of the notable trends seen this year in the prime market in Dubai has been the transition away from the primary market and towards the secondary market

If you look hard enough, there are green shoots of recovery in Dubai's real estate market, especially in the prime residential sector.

Although prices in the emirate's prime market as a whole were down by 3.7 percent in the year to the third quarter of 2020, a closer analysis reveals pockets of stability and even increases.

Knight Frank has launched its latest Prime Global Cities Index for Q3 which shows prices are still falling - by 1.7 percent in the latest three-month period. Not a surprise given years of oversupply and now a weaker economic backdrop.

 

But Taimur Khan, research manager at Knight Frank Middle East, told Arabian Business that the rate of decline is now slowing, where a year ago prices were falling by more than 5 percent.

"In more established prime areas we are beginning to see prices stabilise and even increase in some cases, for example on the Palm Jumeirah," he said.

Prices on the Palm seem to have reached their trough in May and since the average transaction price per square foot has increased for five consecutive months and now stands 4.2 percent higher, he revealed.

Khan told Arabian Business that one of the notable trends seen this year in the prime market in Dubai has been the transition away from the primary market and towards the secondary market.

In the year to date to October 2019, 56 percent of property purchases were off-plan purchases and over the same period in 2020, this number has fallen to 41 percent.

"There have been two main factors which have underpinned this trend. First, the relative revaluation in the secondary market compared to the primary market has made this market more attractive to both investors and end users. Secondly, as a result of near historic low mortgage rates and the increase in the loan to value (LTV) ratio by the UAE Central Bank, anecdotally, we have seen greater levels of demand from end-users who tend to favour the secondary market," he explained.

Due to this shift in demand there is a significant divergence in performance between the primary and secondary market, where, over the same period, off-plan transactions were down 27.2 percent, whereas secondary market transactions demand decreased only marginally by 1.2 percent.

Globally, Knight Frank's Prime Global Cities Index for Q3 showed that Auckland, New Zealand is the city with the fastest-rising prime prices in 2020 so far with values up by nearly 13 percent.

Overall, the index continues to register positive annual price growth despite the global pandemic, up 1.6 percent in the year to Q3.

Knight Frank said Seoul, Stockholm, and two cities in China (Shenzhen and Shanghai) saw price growth exceed 5 percent - all locations that are either considered to have handled the pandemic efficiently, applied a lighter touch in terms of restrictions or are already seeing an economic recovery.

Over 60 percent of the 45 cities tracked registered flat or positive annual price growth in the year to Q3 but with travel restrictions in place across much of the world, demand remains primarily domestic in nature.

Dubai is one the best city to live where everything is available on the doorstep, this is why Shaikhani Group invested their money, and they do have different projects which are successfully in process. Shaikhani group tries to find the best deals with good luxuries so the customer can enjoy all the luxuries at full Shaikhani group already handover few projects in Dubai worth of millions of dirhams, they always achieve their target on time which shows the positive sign of their progress. Soon they will handover gardenia residency which is located in Jumeirah village circle, it is been expected they will handover this project by the end of 2021 or maybe earlier depends on the working conditions and environment

As the pandemic situation is the worst in the whole world, things are really difficult to sort out because in this situation we have to be very careful taking extra safety precautions to make sure not to put labor’s life at risk because this work needs a lot of manpower and due to pandemic we have to maintain the 6-foot gap, so what we have provided our labor high-quality equipment to make sure work doesn't compromise and customers will get their apartments on time more than 1000 units handover in the projects of Cambridge business center, champions tower and gardenia 1 & 2 which is worth of 700 million dirham approximately 600 units are to be completed soon within one year in Champions tower 3, Gardenia 1 and 2 approximately value 300 Million dirham will be deliver

More UAE homeowners expect property price rises in next 12 months

 

New research indicates improved sentiment in Q3 following impact of coronavirus on real estate market

More homeowners in the UAE are forecasting an end to the years of residential real estate price declines compared to three months ago, according to new research.

Christopher Payne, chief economist at Peninsula, an investment and research company, said the coronavirus pandemic had taken its toll on the UAE market in the second quarter of 2020 but this might be slowly changing.

Peninsula’s Home Sentiment Survey, which measures consumer sentiment towards the residential property market at the end of Q3, showed that 50 percent of homeowners in the UAE expect prices to be stable or increase in the next 12 months, up from 41 percent at the end of Q2.

It also showed that 33 percent of UAE homeowners expressed their belief that home prices will increase in the next 12 months, up from only 11 percent of respondents in Q2.

“Assuming that our survey is accurately reflecting market perceptions, then we would assume that improving sentiment among homeowners reflects the view that things can only get better after Q2 lockdowns, that is that the economy has bottomed and so, therefore, has the real estate market,” said Payne.

“Indeed, this is not an unreasonable viewpoint given the economy will return to growth in 2021,” he added.

Shaikhani Group is working in Dubai since 1993, there was a time where 2000 Companies came and registered themselves as Real Estate Developers, In today’s time very few companies survived, because of rules and regulations of Dubai, Shaikhani is one of them who are still working in Dubai, this step which our leader of Dubai took it. Because it will control the demand and supply, moreover it would be very beneficial for the customer to have a variety of his choice in the same price plan.

Dubai is a vast city where every culture lives in and Dubai’s government is taking actions to make sure it will be beneficial to all cultures. They have different projects such as Cambridge Business Centre, Champions tower 3, and Gardenia I & II, more than 1000 units have been handover until now worth of 700 Million Dirhams. They are planning to handover the remaining 600 Units in one year worth 300 Million dirhams. These things are not easy just because of good motivation and management work it is being achievable This is the benchmark and trustiness of the company that if you invest with them, it will be secure and fruitful in future. For further details visit their website www.shaikhanigroup.com

How Dubai is becoming more transparent to attract real estate investors

 

Dubai climbs the Global Real Estate Transparency Index after launching official residential index

Dubai and Abu Dhabi are the most transparent real estate markets in the MENA region, according to the latest Global Real Estate Transparency Index from JLL.

The index is considered a useful indicator of a city’s overall ‘real estate investment health’ and comes despite continued concerns surrounding over-supply and the ongoing economic impact caused by the global Covid-19 pandemic.

Dubai’s increasing attractiveness as an investment hub was recognised as the emirate climbed up three places to 36th.

According to the report, the most significant initiative launched in 2019, and a key contributor to Dubai’s ranking, was the creation of an official residential transaction-based index, Mo’asher, by the Dubai Land Department (DLD) in partnership with the private sector.

“Mo’asher constitutes a potentially important step forward for Dubai, as it means the establishment of a single index that is widely used by all market participants,” said Dana Salbak, head of research for JLL MENA.

Abu Dhabi also emerged as a top performer globally, reflecting positively on the overall transparency ranking and future investment outlook.

 “Among the many initiatives introduced, the UAE Ministry of Climate Change and Environment signed a pledge with the Abu Dhabi Global Market (ADGM), a financial free zone, to embed sustainable finance policies in the UAE, contributing to the emirate’s ranking.  The policies cover all forms of corporate and investment financial services which yield environmental, social, and economic benefits,” added Salbak.

The report also revealed that Saudi Arabia is demonstrating a strong commitment to reforms to expand the economy and real estate market, including rebrandeding its publicly available central database - The General Authority for Statistics – and continuing to collate more data from government agencies.

Mr. Ahmed Shaikhani Group Director of Shaikhani Group said, Even though in Pandemic situation shaikhani Group didn’t compromise the work and they have to make sure every labor is working with all safety precautions of a pandemic where the quality doesn’t compromise at all. Moreover, they are trying their best to increase the productivity of their projects so it will hand over soon….

We have delivered more than 1000 Units in our projects (Cambridge Business Centre, Champions Tower, Gardenia 1 & 2 if we compare through the value in terms of money it would be approximately 700 Million Dirhams

Shaikhani Group explained, Dubai is known for doing things at right time, they come up with those ideas where people think‟s it is not possible, long time ago Dubai was a desert, now no one can say this was a desert. People love to visit Dubai for holidays because all facilities are there including security which is a basic necessity of life.

Why real estate is still the answer to all GCC investors

Sector to be a primary benefactor of improving macroeconomic
dynamics across region
Ten years ago, real estate was considered a key barometer of GCC's
economic affluence as rapid rise in per capita income, influx of expatriate
population, and changing demographics fueled demand for both
commercial and residential properties in the region. However, the 2008
financial crisis followed by the dip in oil prices in 2014 cultivated several
challenges for the sector with property prices and rentals plummeting by as
much as 40 per cent across the region. The slump in oil prices, fiscal
consolidation measures, oversupply of housing units, introduction of
mortgage cap, and geopolitical tensions have significantly weighed down
on property demand in the GCC.
As a result, GCC investors, who traditionally preferred real estate as an
asset class, have maintained a cautious stance despite positive initiatives
taken by the government and developers. Going forward, the GCC real
estate market is expected to post recovery in 2020-21, and it is important to
understand why real estate is still the answer to all GCC investors.
Firstly, real estate has long been the cornerstone of GCC economies and
will be a primary benefactor of improving macroeconomic dynamics across
the region. The real estate sector - which accounted for about 6 per cent of
GDP in the UAE and 7 per cent of GDP in Saudi Arabia in 2018 - makes up
for a significant portion of the consumer price inflation baskets, and also
accounts for a large share of the region's FDI inflows. Consequently, the
sector shares a symbiotic relationship with overall economic activity
wherein an upswing in one will benefit the other and vice-versa.
After the oil price crash in 2014, regional governments undertook on a
reformist agenda focusing on economic diversification, opening of new
sectors for FDI, relaxation in visa requirements and easing of business
regulations to provide a conducive environment for already established
businesses while attracting new investment and human capital.
Additionally, regional governments also implemented targeted initiatives to
support the growth and stability in the real estate sector. These measures,
along with stabilising oil prices and higher budgetary spending in priority
sectors such as public infrastructure, healthcare, education and many
others, are expected to pay dividends in the long-run. Needless to say, the
real estate sector will emerge as the primary benefactor as upcoming mega
events such as Expo 2020 Dubai will further drive demand for real estate in
the region, thereby presenting significant growth and income opportunities
for the investors.
Secondly, real estate remains one of the most popular asset classes
across the region. According to Select Property Group's 2018 GCC
Investor Survey, 75 per cent of investors in the GCC have invested in local
property at some stage, while in terms of frequency, 71 per cent of GCC
investors look to make a new investment every six months or less, and 32
per cent look to make one at least every quarter.
The investor allure of real estate is enhanced by its financing structure,
which allows investment into the asset class with about 20-25 per cent in
down payment in equity, while the remaining can be financed through
debt/borrowing, as compared to other asset classes that require 100 per
cent equity financing and are often volatile to global economic environment.
Thirdly, the GCC real estate sector still offers a high return profile for
investors. While rents and property prices have softened in the last five
years, the rental yield across GCC remained strong as compared to global
peers. Property Finder research indicates that Dubai properties have
consistently offered rental yields of more than 7 per cent on average,
largely outperforming average rental yields offered in other major cities
such as New York (2.9 per cent), London (2.7 per cent), Singapore (2.5 per
cent) and Hong Kong (2.4 per cent).
Moreover, the correction in property prices presents a unique opportunity
for investors to reap dual benefits of high rental dividend yields and capital
appreciation.
Finally, real estate investors will benefit from improved regulatory
environment and competitive offerings by the developers. Since 2014, GCC
states have been working towards a robust framework for the smooth
functioning of the real estate market. For instance, Bahrain, wherein the
real estate sector is one of the major non-oil contributors, witnessed its first
comprehensive real estate law under the Real Estate Regulatory Authority
in March 2018. Meanwhile, Saudi Arabia is also working on solidifying its
regulatory framework for the real estate sector, which has plenty of room to
develop through regulatory reform given its relative nascency.
With diversification plans taking shape, 10-year visas on the horizon and oil
prices holding firm, it is only a matter of time before the GCC real estate
sector embarks on the path to recovery. Market segments such as
affordable housing is already witnessing robust demand, thanks to
government incentives and initiatives, and greater creativity from industry
stakeholders and developers. GCC investors should rethink investment
strategies and reallocate capital to the real estate sector to benefit from
increased investment opportunities, high returns and growing demand.
Ahmed Shaikhani Group Managing Director of Shaikhani Group says it will
be another good step of UAE government to allow the expatriates to stay in
the country after they got retirement on a condition of owning a property
valued at about $545,000.
This way customers and companies become more align to their path and
try to finish off their work otherwise they know they will face a lot of
problems. Thanks Dubai government to keep everyone equal and updated

Designing smarter real estate portfolios in times of uncertainty

In times of uncertainty, maintaining functional and efficient real estate is
key. This is made more crucial nowadays in light of the fast-paced
advances in technologies and evolving consumer behaviors disrupting all
aspects of real estate. From these stems the need to develop proactive
strategies that focus on increasing the value of your real estate portfolio
and generate annual and recurrent cash flows.
Obstacles to achieving the optimal performance of real estate portfolios are
varied. Within the region, industry players have held onto large land banks,
most of which are undeveloped and situated in tertiary locations. To
develop the necessary infrastructure and supporting amenities requires
additional financing and time. In some instances, the larger pieces of land
have taken longer time to sell and have therefore depreciated in value.
In addition, given the traditional nature of doing business which relied on
family businesses or holding companies, real estate was not considered a
core function of the company. Therefore, formulating and developing
appropriate strategies, let alone making real estate decisions, has been
complex. This is made more difficult by the limited availability of market
wide and asset specific data, making it more challenging to understand and
manage the property effectively.
On a general level, one of the key considerations to ensure your real estate
portfolio's profitability is being able to anticipate future market conditions.
'Future-proofing' your portfolio will allow for the flexibility needed when
responding to uncertain market conditions.
Much of this rests on having timely, accurate, and reliable data that can be
harnessed for actionable insights. This includes real-time data and longterm
market forecasts on macroeconomic and demographic indicators,
market performance, and property performance. Connecting these data
points together will assist in predicting future market directions more
accurately.
On a more granular level, a key strategy to overcoming uncertainty is
diversifying your portfolio. When the number of uncorrelated assets in a
portfolio increases, the variance of the portfolio, in other words the risk,
decreases.
Traditionally, Middle Eastern investors have been risk-averse, investing in
more stable locations and asset classes such as offices, hotels, and retail
centers. However given recent market conditions, we see investors moving
up the risk curve and diversifying their portfolios by incorporating alternative
assets such as industrial properties. Data shows that Middle East investors
spent more on industrial and logistics facilities ($315 million) than on retail
malls ($155 million) in the first half of 2019.
To unlock the full potential of your property portfolio it is also imperative to
reduce costs through proactive property and asset management. Unlike
other investments, investing in real estate means you can actively manage
each of your assets including regular maintenance, tenant and lease
management, improvements to efficiency and productivity, among other
elements. This ensures the asset's longevity and increases the return on
investment.
Beyond closely managing and diversifying your real estate assets,
employing structured real estate financing solutions, other than the
traditional model of relying on bank lending, will allow your portfolio to grow
even in uncertain times. This may include mezzanine debt financing versus
equity, sponsorship and joint-ventures, peer-to-peer lending, and
specialised portfolio loans.
In order to optimize your portfolio value, minimise risk and maximise
returns, a strategic action plan incorporating the above will need to be
developed. Ideally this aligns expectations from your real estate with the
wider business needs and objectives.
A key initial step is evaluating the current portfolio and understanding any
budgetary or resource constraints to expansion and diversification. This
includes identifying sources of finance for future developments. From there
emerges the need to establish a long-term goal and identify and prioritize
opportunities that ensure portfolio diversification.
Once in place, developing a plan based on a set of measurable action
points, development timelines, and processes is crucial. The final stages
are implementation and continued evaluation and improvements under a
proactive property and asset management strategy. Ultimately, this will
ensure a continuous revenue stream and an increase in the overall value of
your portfolio.
Shaikhani Group said, this coming year would be the best year for the
Dubai. Reason is Dubai 2020 expo is coming. It will be a boom for every
industry. Moreover, they are trying their best to increase the productivity of
theirs projects so it will hand over by the end of this year….
Shaikhani Group explained, Dubai is known by doing things on right time,
they come up with those ideas where people think‟s it is not possible, long
time ago Dubai was a desert, now no one can say this was a desert.
People love to visit Dubai for holidays, because all facilities are there
including security which is a basic necessity of life.

https://www.khaleejtimes.com/business/real-estate/designing-smarter-realestate-
portfolios-in-times-of-uncertainty

#shaikhani #memongroup #shaikhanigroup #dubaiestate #gardeniaresidency #gardenia #goodreturns #newhouse #apartment #Investment #Rental #Secure #ROI  #Realtor #Homeforsale #Househunting #Broker #Newhouse #Forsale #Property #Listing

Government announces to open construction sector from 14th

Prime Minister Imran Khan Friday announced the opening of construction sector from April 14 to help daily wagers and labourers affected by continued lockdown due to COVID-19 outbreak to earn their livelihood.

Talking to reporters here, the prime minister said the government’s decision taken in coordination with the provinces is also aimed at reviving economic activities in the country, which are badly hit by the situation arising out of the coronavirus outbreak. He also announced various measures for the construction sector, including tax incentives, waivers and subsidies in the areas of sales tax, capital gains tax and withholding tax.

Giving details of the decisions, he said those investing in the construction sector during the year 2020 will not be asked any queries about the source of their income. Secondly, he said, the government has decided to bring the construction sector in the fixed-tax regime under which the rate of tax on land will be levied on the basis of per square yard and per foot. He, however, said those investing in the prime minister’s housing programme will be given 90% tax rebate and they will be required to pay just 10% of the total calculated tax amount on their projects. He said it has also been decided to waive-off withholding tax on cement and steel sectors. Besides, he said, in coordination with the provincial governments of Punjab, Khyber Pakhtunkhwa and Sindh, it has been decided to bring the sales tax in construction sector to 2% through consolidation of all taxes.

The prime minister said that capital gains tax on the sale of a house is being done away with. He also announced a Rs 30 billion subsidy for Naya Pakistan Housing Programme, adding that further subsidy will be given on its progress. He said the government has decided to give construction sector the status of an industry. It has also been decided to establish the Construction Industry Development Board (CIDB) to help promote construction industry in the country, he added.
The prime minister said all the decisions regarding the COVID-19 are being taken in coordination with the provinces. However, he said, any of the provinces can make changes as per their requirements.
He said since the Rs 1200 billion stimulus package announced by the federal government to provide financial relief to the poor and daily-wagers in the wake of lockdown due to coronavirus outbreak, the government has decided to open the construction sector. He said with the agriculture sector, which is already open, providing jobs to people in villages, the opening of construction sector, the main source of employment in urban areas, is very much needed.

The prime minister said besides the Rs 1,200 billion package, the government has launched an Emergency Cash Relief SMS Service under which Rs 150 billion will be distributed among the poor and the needy.
About 10 million people have so far applied for the financial assistance through the SMS service, he added.
The prime minister said the decision to open the construction sector has been taken because of the fact that the situation of coronavirus cannot be predicted. “We cannot predict what the situation will be after two or four weeks,” he remarked.
He said with medical sector, food processing industry, take-away restaurants and goods transport already open, the opening of the construction sector will bring a big relief to the daily-wagers and labour class. He, however, added that as schools, colleges, universities and wedding halls have already been shut down, the lockdown due to the coronavirus outbreak is continuing in the country.

Imran Khan rejected the notion being circulated on the social media that the spread of coronavirus in Pakistan is low due to strong immunity of its people, and said as there is no final word about the COVID-19, the citizens should take care of their health. He said the situation regarding the lockdown will be reviewed on April 14.

The prime minister referred to the situation after the Spanish Flue which revived back even after reaching its peaks and downs. He also referred to the situation of Chinese city of Wuhan after the outbreak of novel coronavirus and said the government of China had totally locked down the city for two months and provided the people with food and other essential items at their doorstep. “But my fear is that we will not be able to do this, because of our limited resources,” he said, and added that it is the reason that his government has decided to open the construction sector to save the daily-wagers and labourers from unemployment. The prime minister, however, vowed to fight the contagion together as a nation and said all the resources and capacities of the country will be utilized to fight and win the COVID-19 pandemic.

Prime Minister Imran Khan reiterated the stance of not implementing complete lockdown in cities as both Covid-19 and hunger are a challenge for the nation. He said the government cannot confine its around 220 million population to homes. “We are daily deliberating on how to confront coronavirus besides creating activities for the daily wagers and low income people – who are being adversely affected due the virus,” he added.
He said in case a complete lockdown is implemented, the situation in one month will be so adverse that it may result in casualties from hunger. He said whole nation will have to demonstrate utmost responsibility to observe social distancing to contain further spread the virus as police may not be able to control them with force. He said the whole nation will surely defeat the pandemic with unison and unity.

To a question about role of the provinces in announcing package for the construction sector, the prime minister said after the 18th Amendment, the Centre cannot dictate the federating units. He said the federal government elucidated the reasons of opening the construction sector to the provinces and it is now up to them to take any decision. He said Punjab and Khyeber Pakhtunkhwa governments are fully on board on the issue.
Shaikhani Group is really happy with the decision of Prime minister of Pakistan. Moreover, they said it would be really helpful for the labour to get back to work, our Country is not that rich like china and USA where they have a huge budget for the fight of coronavirus, COVID-19 is not easy for whole world. Due to this virus many well established countries are having a lot of issues because their established economy is going down just because one virus, Scientist and doctors working at the their pace to find a solution

Shaikhani Group salutes to all Paramedics, doctors, Army and other people who are working in this current situation where people are very scared for their lives, many people are diagnosed by Coronavirus, some of the people already left this world, many important people are hit by coronavirus such, prime minister of UK, royal family of UK and other important people.

On the other side Shaikhani group is working with World Memon Organization to help the needy people in this situation. On daily basis Mr. Ahmed Shaikhani Senior vice president of Pakistan business council working with the ARY group to help the Pakistani community. They have all already donated a lot of money for the poor.

Furthermore, Shaikhani Group would like to say thanks to Mr. Mohsin Shaikhani Chairman of ASSOCIATION OF BUILDERS AND DEVELOPERS OF PAKISTAN (ABAD) took the stand for the construction industry and raise his voice, where his voice reached to the Prime minister of Pakistan. Next day Mr. Imran Khan Prime Minister of Pakistan took his voice seriously and in return of that reply Mr. Prime Minister has released a lot of benefits and perks for the construction industry.

Fit-out industry expects booming business in 2020

The UAE's fit-out industry is having a busy time with increasing options for
affordable housing, which is inspiring residents to be homeowners.
Coupled with that the Expo 2020 Dubai preparations are giving local and
international businesses an impetus to invest in their UAE operations.
The sector players are very optimistic that business is in for a busy period
in 2020 and beyond. New reforms in long-term visas are enabling residents
to plan and build long-term stay in the region which has given the food and
beverage sector a constant need to innovate both in terms of business and
boosting customer experiences by refurbishing properties. It has been
observed that for many players staying relevant and attractive on social
media for F&B, retail and hospitality outlets seems key to their online
business.
On industry trends, Mihir Sanganee, design director, Designsmith, said
sectors like F&B, hospitality, retail and office still see a steady growth in
demand.
"We can see an increase in demand for home design and renovations with
the rise in number of home-owners. Free-hold properties also contribute to
that trend. There is a big push for being sustainable and refurbishing
existing spaces instead of constructing new ones," he said.
He said the F&B sector is currently driven by the unique concepts and
consumers are more conscious about materials and products used in their
homes and offices - ethically-sourced, natural, recycled and locally-sourced
product are in demand.
"This year we can see design and build studios will drive larger growth with
higher and faster deliverables with a specialist approach from a one stop
shop service."
Established in 2012 to cater to the interior design and fit-out industry,
Design Infinity opines that UAE interior fit-out market is one of the GCC's
fastest growing industries.
Geetha Nayak, managing partner of Design Infinity, said the muchanticipated
growth in the market with regards to 2020 will help all sectors
like commercial, hospitality, hospital, retail and residential projects to grow.
"Dubai and Abu Dhabi are experiencing a robust growth in the construction
and real estate sector, due to which the interior fit-out UAE market will also
be stirred with huge projects and will see an upward trend in the business
overall. The main driver of this sector's growth is the increase in
construction activities, owing to the Expo 2020, in the region. Construction
and real estate sector are the real influencers of growth in the interior and
fit-out market."
A Faithful Gould’s report forecasts the UAE fit-out market to reach $973.4
million (Dh3.4 billion) by 2022. At the same time, the renovations and
refurbishment market in UAE is also on the rise. Experts estimate
renovations can add between 10-15 per cent to the selling price, something
that is promoting a lot of owners to remodel and upgrade their older
properties.
Ahid Shaikh, founder of BnB, who is also the chairman of Déjà vu Real
Estate, said there are two clear segments where "we see a need gap".
"One is homeowners, who are seeking a classy and cosmopolitan look for
their new homes, or looking to upgrade existing properties to increase
valuation and ensure a steady return on investment. And the other is
Dubai's growing residential & commercial projects market."
Recently, Bianca & Bianco, a new concept of affordable luxury porcelain
slabs, tiles, and exclusive bath & kitchens solutions, launched its first
showroom in Dubai on Sheikh Zayed Road catering to the needs of large
commercial and residential real estate projects looking for competitively
priced international quality fittings.
"Real estate is one of the biggest investments in your life. Property needs
look beautiful and should be upgraded regularly for it to retain and enhance
its value. But while you want luxurious finishes and high quality, you also
don't want to break the bank! Today everyone, whether a project manager
or an individual, wants opulence that is cost-effective and delivers great
ROI," he adds.
Abeesh Koshy, operations director, Dubai creative group, said the UAE's
fit-out industry today demands a constant innovation both in residential and
commercial sector compelling each player to bring in a business strategy
which is competitive and disruptive due to higher consumer demand. "The
designs are no more contemporary but futuristic as consumers are largely
influenced by Generation Z," he said.
This is the very good step for the customers said Shaikhani group, This
step will leads the customers to take a quick decision where they are in
need to view the apartment or villa, customers are always looking
something to save their time, because travelling is not easy in today’s
world. People do avoid travelling unnecessary, travelling will cost a lot plus
it will be headache.
This new step will help real estate sector to flourish in the market very
easily, because you have a trust on something you don’t bother that much
what is going on. Customers open the app and go for the checkout or take
their decision on the product shown in the app. Buying online is a normal
routine for nearly 90% customers they prefer to order online, where they
don’t have to hassle their life.
https://www.khaleejtimes.com/business/real-estate/fit-out-industry-expectsbooming-
business-in-2020

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Chinese investors' interest in Dubai's real estate sector growing

Dubai - Interest from the Chinese investors into Dubai's real estate sector is growing due to attractive valuations following a persistent decline in property prices over the last few years, according to a new study. Analyzing property demand trends of Chinese consumers as recorded over the past seven years by property portal by Juwai.com, Dubai stands out as one of the top destinations for Chinese investors. Recently, Juwai.com was merged with global property firm IQI Global. Last month, IQI Global signed a deal with Dubai-based Key One Realty Group, a leading real estate firm in Dubai, to help the Chinese investors tap Dubai's property sector. Kashif Ansari, Group CEO of property firm IQI Global, said, hundreds of inquiries are received every week from different Chinese customers who are seeking to invest in Dubai's real estate sector. "Dubai has got a lot of prominence among the Chinese investors over the last few years, thanks to massive promotions launched for Expo 2020. There is a lot of awareness and knowledge about Dubai
now among the Chinese investors, hence, they inquire about the investment opportunities in the emirates, especially in the real estate sector," Ansari said. "With our success in China and Asia, we are confident of being able to serve Indian clients as well in their search for lucrative global property investments," he added. Recently, IQI announced its alliance with Dubai-based property firm Key One Realty Group to serve the increasing demand from the Chinese and other markets for the emirate's property. Omer Ali Khan, director of IQI Dubai, said Dubai property market is attracting foreign investors' interest owing to its attractive price. Shaikhani Group is working on their best to provide and finish all their projects before expo2020 starts, they want to handover all projects. Mr. Shaikhani pushing his engineers and labor to work smarter, he offered them a good incentive so they can work faster and finish those pending projects as soon as possible Shaikhani group is a multimillion business who are working in Dubai since 1993, where hardly few people use to work on real estate, then after few years Dubai government invite investors to work on their land and build a new houses and apartments, but due to quality checks nearly 1500 companies closed down. Shaikhani group never give up even they don‟t give up in credit crunch where companies are downsizing their structure but shaikhani wont. Shaikhani is trustable company where customer can invest their money and utilize their money in two ways, first to live and enjoy a luxury apartment and amenities second to hold their apartments for few years and earn a handsome profit by selling their property.
https://www.khaleejtimes.com/chinese-investors-interest-in-dubais-real-estate-sector-growing

Realty a key component of Abu Dhabi economy

Real estate and construction, with an output of Dh114.4 billion, contributed 14.4 per cent of Abu Dhabi's GDP by the end of 2018.
Value of property transactions hits Dh31B in first half of 2019 through 10,000 transactions, growth rate 4.6%
Real estate is one of the important sectors in Abu Dhabi's economy in terms of contribution to the GDP and FDI, top officials said in the capital.
Rashed Al Beloushi, under-secretary at the Abu Dhabi Department of Economic Development, said the real estate sector, which has seen high annual growth rates, is important part of the UAE's vision to diversify economy away from oil.
"There are many non-oil sectors we rely on like manufacturing, renewable energy, aerospace, banking and finance, information and communication technology, tourism and real estate. Over the past five years, we have experienced average growth rate of 4.6 per cent in Abu Dhabi," Al Beloushi said during his keynote speech at the recent International Real Estate and Investment Show in Abu Dhabi.
"The value of real estate transactions amounted to Dh31 billion in the first half of 2019, through 10,000 transactions. There were 6,374 registered sales transactions worth Dh12.5 billion, and 3,712 mortgage transactions worth Dh18.5 billion."
Reflecting on last year's performance, he pointed out that real estate and construction, with an output of Dh114.4 billion, contributed 14.4 per cent of Abu Dhabi's GDP by the end of 2018.
"The portion of real estate in non-oil GDP is 28.2 per cent. FDI in real estate and construction accounted for Dh36 billion, which is 34.4 per cent of total stock of foreign direct investment in Abu Dhabi by the end of 2018."
Meanwhile, Majed Ahmed Al Jaberi, acting executive director for the real estate sector at the Department of Urban Planning and Municipalities, said the show was a platform to exchange experiences and build strong partnerships with all the stakeholders.
"Our strategy is to raise awareness about strengths of the real estate sector. We are here to provide essential information for investors, real estate developers and landowners. We are aiming to reach out to our stakeholders and advance the transparency of Abu Dhabi's real estate's business environment," he added.
Buffett's agency coming soon
Meanwhile, legendary investor Warren Buffett's real estate brokerage services is expanding in the UAE with a new office set to open in Abu Dhabi within six months.
Despite concerns of oversupply and slowdown, Berkshire Hathaway HomeServices Gulf Properties CEO Phil Sheridan felt there is 'great value' in investing in Dubai and Abu Dhabi. He counted the government's booster doses like fee waiver, deferred payment plans, tax structures, visa norms, favourable pricing, robust infrastructure and attractions - all aspects that added value to the UAE market.
"What our leadership team in the US identified was that the UAE is a destination of real value. As the Global Real Estate Bubble Index recently published illustrated that Dubai and, indeed, Abu Dhabi offer good value," Sheridan said at the International Real Estate and Investment Show.
Berkshire Hathaway HomeServices has more than 1,400 offices and 50,000 agents in the US. Its first office in the Middle East was opened in Dubai earlier in May. Sheridan noted the firm will see 'accelerated growth' throughout the region in coming years. "We are committed to opening a branch in Abu Dhabi within the next six months. We want to make Abu Dhabi as much a success as we have already enjoyed in Dubai where we have 40 agents with 15 support staff. And that's good in first six months. We will have a celebratory launch on January 31."
Sheridan pointed out that Berkshire Hathaway's Class A shares have averaged an annual growth of 19 per cent to shareholders since 1965 compared to 9.7 per
cent from the S&P 500. "If you had invested $7,100 in June of 1990, on October 2019, it will be $311,640," he added.
Shaikhani Group is in process of finishing their two projects worth above AED 200 Million by Starting of 2020 and more projects are in pipeline. It would be a great achievement for Shaikhani Group to invest in real estate sector. https://www.khaleejtimes.com/business/real-estate/realty-a-key-component-of-abu-dhabi-economy

Dubai's real estate market yet to see Expo 2020 boost say experts

Industry heads have no doubt about the positive effects of Expo, but has it started already? Real estate experts in Dubai are split over whether the industry is already receiving a boost from the Expo-effect as the emirate gears up to host Expo 2020 Dubai. According to statistics released by Property Finder, there have been a total of 68 real estate project launches in Dubai so far in 2019, representing a slowdown from the previous year. However, the figures show that despite the muted pace of project launches, there has been a 33 percent increase in sales transactions between June and August, compared to 2018. Kalpesh Kinariwala, founder and chairman of Pantheon Group, said the increase in sales can partly be attributed to the Expo.
He said: “The upcoming Expo 2020 is adding to the business confidence of real estate investors, and there is positive traction in the market. More professionals and experts are taking up residence in the city to support the preparatory work, and all core sectors – including aviation, tourism, retail, hospitality, logistics and financial services – are gearing up with new investments, which is ultimately energising the economy.” Transactions increase In terms of overall transactions across the real estate market, over the year-to-date, overall transactions have grown by 14 percent compared to last year. Swapnil Pillai associate, research at Savills, told Arabian Business that areas towards the Expo site, like Dubai South - which include projects such as Emaar South and The Villages - as well as other projects like Villanova, Arjan and Damac Hills in Dubai South East, have been experiencing strong demand. He said: “If we look at how that might amplify over the coming year, we would anticipate a continued uptick in demand for residential, particularly at the right price points and those that offer excellent quality and well-planned design.” According to an Ernst & Young (EY) report, the legacy period of Expo 2020 - estimated between 2021 and 2031 - is expected to contribute AED62.2 billion in gross value added (GVA) to the UAE economy. The report estimates that within the total AED122.6bn GVA contribution of Expo 2020 from 2013–31, a resounding AED27bn can be attributed to the construction sector alone. Sean McCauley, CEO of real estate marketing firm Devmark admitted that while he is confident Dubai will see positive effects from hosting the Expo, he‟s guarded on whether these effects are being felt already. He told Arabian Business: “It‟s debatable whether the increase in transactions is directly attributable to Expo or not, however Dubai‟s real estate market has
proven to be massively sentiment driven in the past and overall investor sentiment has increased of late which may be as a result of the nearing of Expo to some extent.” He added: “In the long term, Expo should have a significant impact on Dubai‟s real estate market.” Organisers of Expo 2020 Dubai are aiming to attract around 15 million unique visitors, with around 70 percent – or about 11 million – coming from overseas and the remaining consisting of 4 million local residents coming multiple times. Some 200 countries will take part in the fair, which runs from October 20, 2020, to April 10, 2021. Shop window Kinariwala said it will provide the perfect shop window for professionals and entrepreneurs, which, in turn, will satisfy the emirate‟s burgeoning real estate industry. “In addition to the resident population and the international investors already aware of the potential offered by the city, the new stream of people is also expected to invest in the UAE property market,” he said. “A massive marketing to promote the Expo is likely to benefit the emirate for decades. The image of Dubai will long be in the mind of the global population, and this will definitely have a far-reaching effect on people‟s ideas of moving to and settling in Dubai, attracting a new population to the city, ultimately giving the market some well-needed stability.” Mr. Shaikhani said, when affordability and reliability factor comes, Dubai is the most affordable place for real estate, It is always booming and attraction for the tourist, There are number of different schemes and low charges from government UAE which holds the prices and create attraction for the investors and buyers
Due to government Laws and implementation, Dubai„s projects are more reliable and easy to invest as compare to other countries, Mr. Shaikhani said. Furthermore, he said we have a different types of project in different areas because every customer have a different view and opinions, after looking at the behavior of customers we have invest more than 200 million dirham in few years. We are getting a really good positive feedback and best ROI on our investment, due to the government policies and infrastructure Soon Shaikhani Group is going to finish their recent projects; Champions Tower 3 and Gardenia both are on their ending stages. Gardenia is built for those who are looking for luxury and quality Apartment, and once this project is completed soon customer will recognize them as a very high quality Apartments. Shaikhani„s said we have a vision to open our new office in NEW YORK and then London, But things will go gradually. We are in market since many years and we are still surviving in the industry very well. Since 1978 we are in business and our Dubai office started in 1993, this is the reliability of our company and customer knows we will finish our projects on time no matter what.

https://www.arabianbusiness.com/property/432414-dubais-real-estate-market-awaiting-possible-expo-2020-boost-say-experts
#Shaikhani #Shaikhanigroup #Realestate #Gardenia #gardeniaresidency #dubai #Dubaiestate #Memongroup #Investment #apartment #expo2020 #Goodreturns #Rental #Secure #ROI  #Realtor #Homeforsale #Househunting #Broker #Newhouse #Forsale #Property #Listing

Dubai Land Department sets out ten guidelines to improve real estate agents

Dubai Land Department sets out ten guidelines to improve real estate agents Guidelines issued through RERA aimed at improving integrity of industry The guidelines, which were issued through the Real Estate Regulatory Agency, aim to boost public trust in the industry and prevent agents from sharing information about their clients. Dubai Land Department has set out a ten-point-plan to raise the professional bar of real estate agents in the emirate.

The guidelines, which were issued through the Real Estate Regulatory Agency, aim to boost public trust in the industry and prevent agents from sharing information about their clients.
The first principle calls on real estate agents to do everything in their power to maintain and enhance confidence among stakeholders, although, according to the second principle, this should not extend to sharing confidential information of clients without prior permission. The third surrounds conflicts of interest and calls for full disclosure and transparency before work is taken on, while the fourth demands that clients are all treated fairly and with honest, regardless of race or religion. The fifth, six and seventh pillars surround integrity and ethical compliance and professionalism. And Marwan bin Ghalita, CEO of RERA, stressed in number eight that real estate agents “must not mislead or attempt to mislead, and shall not misinform or withhold information regarding products or terms of service”. Protecting customers‟ rights and assets formed the basis of the ninth principle. And finally, the circular concluded with social responsibility, where real estate firms are expected to be “active members of the society and work to respect the values and principles of the society”. “This ultimately means that Dubai‟s real estate market maintains its reputation as one of the best investment havens in the world,” Bin Ghalita added. Shaikhani Group who are working in Dubai as a Real estate developer, they have delivered many projects, some of them are in pending expected to be finish by mid of 2020, They always tried their best to handover the project in estimated time, if any hurdles come such as government laws or working environment problem then it will be a bit delay to coupe up the problems. Usually they always prefer to deliver the projects in time.
Mr. Ahmed Shaikhani said, we are surviving in Dubai since 1993 and we are still doing good as compare to other companies, our rates are quiet low as other people are giving discounts on their higher rate, that‟s why we don‟t give discount because we everything should be crystal clear. People sometimes complain that other companies are giving huge discount but when our representative explains how we are working, so they understand everything. Our first priority is make customer happy because without customers we are nothing. https://www.arabianbusiness.com/property/432440-dubai-land-department-sets-out-ten-guidelines-to-improve-real-estate-agents

Nearly 60,000 residential units to be added to Dubai market

Nearly 60,000 residential units to be added to Dubai market

Already, 20,978 units were completed in the first six months of 2019, according to Property Finder On Tuesday, a report released by property finder stated that it expects a total of 59,404 residential units to be added to Dubai‟s property market in 2019. Of this, construction on 20,978 units were already completed. This comprised of 14,999 apartments, 1,084 serviced apartments and 4,895 villas and townhomes. The remaining 38,426 units that were expected to be completed before the year end, are spread across 152 projects, and are around 85 per cent completed as of July. Notable projects that have already gone online this year include 426 apartments in Emaar‟s Vida Hills and 1,312 villas in Maple I and Maple II in Dubai Hills Estate. Upcoming major projects scheduled for completion later this year include 1,427 apartments in Al Habtoor City and 458 townhouses in the master-planned community development of Town Square by Nshama.
The report in Property Finder added that overall residential stock is expected to reach 637,000 units by the end of 2020. According to another report by Cavendish Maxwell released in April and which tracked the Q1 performance of Dubai‟s real estate market, it stated that the prices of villas and townhouses remained relatively stable quarter-on-quarter at an average of Dhs1.8m, while apartment prices traded around Dhs1.2m on average. Dubai is one the best city to live where everything is available on door step, this is why Shaikhani Group invested their money, and they do have different projects which are successfully in process. Shaikhani group tries to find the best deals with good luxuries so customer can enjoy all the luxuries at full Shaikhani group already handover few projects in Dubai worth of millions dirhams, they always achieve their target on time which shows the positive sign of their progress. Soon they will handover gardenia residency which is located Jumeirah village circle, it is been expected they will handover this project by the end of 2019 or may be earlier depends on the working conditions and environment

https://gulfbusiness.com/nearly-60000-residential-units-added-dubai-market-2019/

#Shaikhani #Shaikhanigroup #Realestate #Gardenia #gardeniaresidency #dubai #Dubaiestate #Memongroup #Investment #apartment #expo2020 #Goodreturns #Rental #Secure #ROI  #Realtor #Homeforsale #Househunting #Broker #Newhouse #Forsale #Property #Listing

Smart Dubai to promote use of advanced technologies in real estate Dubai

Smart Dubai has signed a partnership agreement with real estate portal Property Finder to promote the use of advanced technologies to enhance people's real estate journey Smart Dubai first announced plans to partner with Property Finder in April 2019 as it launched the Dubai Data Private Sector Strategy and Policy, with the objective of creating new data products for the vital economic sector. Younus Al Nasser, Assistant Director General of Dubai Smart City Office, signed the Memorandum of Understanding (MoU) on behalf of Smart Dubai, with Michael Lahyani, CEO of Property Finder FZ-LLC "Smart Dubai has a mandate to transform Dubai into a full-fledged smart city," said Younus Al Nasser. "With that in mind, we have committed ourselves to introducing advanced technologies into every sector and redesigning every aspect of people's lives to make it easier and ensure their happiness. This agreement we are signing with
Property Finder - a true leader in the real estate industry - will help bring more smart-city technology to the people of Dubai as they go about finding their perfect home in the city." "Bringing the public and private sectors together is essential to our strategies," Younus Al Nasser continued. "It is crucial that we all work together to come up with innovative use cases for the city data we are compiling. By bringing advanced data technologies into the real estate sectors, Smart Dubai and Property Finder look forward to leading the region in terms of real estate, developing in-depth studies, formulating data-driven plans for the future, and implementing ground-breaking use cases." For his part, Michael Lahyani, said: "By utilising the various data sets from Smart Dubai and coupling them with our rich data sets, we will be able to create tools and offer more data to the consumers, which is needed to make better informed decisions during their real estate journey." The MoU stipulates that the two parties will work together to demonstrate the value from public and private sector data assets, by creating advanced real estate data products, in addition to conducting analysis and thought leadership projects. Furthermore, the agreement seeks to showcase the power of data science and the potential that can be achieved when cross-sector data teams work together. Mr. Mahmood Shaikhani said, Dubai is the most affordable place for real estate, it is not a negative or lowest market, There are number of different schemes and low charges from government UAE which holds the prices and create attraction for the investors and buyers Dubai„s projects are more reliable and easy to invest as compare to other countries, Shaikhani said. Furthermore, he said we have a different types of project in different areas because every customer have a different view and
opinions, after looking at the behavior of customers we have invest more than 200 million dirham in few years. We are getting a really good positive feedback and best ROI on our investment, due to the government policies and infrastructure Soon they are going to finish their recent projects; Champions Tower 3 and Gardenia both are on their ending stages. Gardenia is buildup for the luxury, this is not a normal luxury, and these facilities you will find in 5 start hotels. Everything would be really worth it. Mr. Ahmed Shaikhani explained they do have some customer who are not willing to buy a property in UAE because of their kids, but it is been solved. It would be really fruitful for those people who are willing to invest in Dubai. They can get properties on very good prices. Shaikhani group has been working as real estate developers since more than three decades. They have invested millions of dirhams; they believe Dubai is the best place to live. Dubai has no issue regarding security. It was a desert before but now it is the place where human loves to live in. Shaikhani group is really thankful to HH Sheikh Mohammed bin Rashid Al Maktoum For the making Dubai best in everything.
https://www.khaleejtimes.com/smart-dubai-to-promote-use-of-advanced-technologies-in-real-estate