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
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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