Monday, April 22, 2024

Surging Demand and Tight Supply Propel Dubai's Luxury Property Market to New Heights

 


Certainly! Dubai's luxury real estate market has demonstrated remarkable growth, particularly in its prime residential sector, where properties valued over $10 million are attracting considerable interest from international buyers. This influx is fueled by Dubai's reputation as a cosmopolitan hub with strategic policies that enhance its attractiveness to wealthy expatriates and investors.

In detail, during the past year, prime locations such as The Palm Jumeirah, Jumeirah Bay Island, and Emirates Hills witnessed a significant appreciation in property values, with an increase of over 26% in prices. The Palm Jumeirah alone accounted for over a third of the total transactions in the first quarter of the year, reflecting its status as a premier residential area. This surge is part of a broader trend where Dubai’s luxury market has consistently outperformed other global cities, including London and New York.

Knight Frank’s report provides insight into the dynamics driving this market. For instance, the total sales value of luxury homes in the first quarter of this year was $1.73 billion, marking a 6% increase compared to the same period last year. The report emphasizes that despite the rising prices, Dubai remains an economically attractive location for luxury real estate compared to other major cities. Here, $1 million can secure approximately 980 square feet of prime residential space, which is significantly more than what the same amount would buy in cities like New York or London.

The market's robustness is partly due to Dubai’s strategic advantages such as excellent global connectivity, favorable interest rates, and policies encouraging long-term residency. These factors have not only sustained demand but have also led to a tightening in supply. Over the past year, the availability of homes priced above $10 million has decreased by 59%, creating a seller's market with only 864 such homes available citywide.

Despite these favorable conditions, the report also cautions about potential risks that could impact the market. Factors such as a global economic slowdown or escalating regional tensions could influence local economic conditions and, by extension, the real estate market. These could lead to increased oil prices, fueling inflation and higher interest rates, which might dampen the demand for luxury properties.

Looking forward, while the luxury market is expected to grow by a more moderate 5% this year, specific areas like Dubai Hills Estate are emerging as highly desirable neighborhoods. This area is attracting domestic buyers due to its proximity to major business districts, availability of international schools, and abundant green spaces, leading to an 11% price increase over the last 12 months.

The sustained interest in off-plan luxury properties, like those in Palm Jumeirah’s recent high-end developments, also highlights the ongoing appeal of Dubai’s real estate market. This is indicative of the city's ability to continue drawing the global elite, thereby cementing its status as a major destination for luxury real estate investments.

Top of Form

 

Monday, April 8, 2024

The Rise of Ready Properties and Shaikhani Group's Pivotal Role in the UAE's Real Estate Resurgence

 



In the first quarter of 2024, the United Arab Emirates (UAE) witnessed a significant shift in real estate dynamics, with a marked increase in the demand for ready properties as more tenants opted for home ownership amid rising rental prices. This trend signifies a departure from the previous year's emphasis on off-plan transactions, highlighting a robust demand for existing projects across Dubai and Abu Dhabi. According to Property Finder, this change is driven by a steady increase in rents over the past three years, propelled by high demand from a growing population. Consequently, UAE residents are increasingly purchasing real estate in Dubai and Abu Dhabi to reduce their monthly expenses and potentially enhance the value of their investments over time. The first quarter of 2024 emerged as a promising growth phase, indicating a diversified demand with positive implications for the future.

The Shaikhani Group, a multi-billion dollar international conglomerate with a strong presence in real estate development among other sectors, is poised to play a significant role in addressing this shifting market demand. With over three decades of experience in real estate development and having delivered over 30,000 units, the group's extensive portfolio and commitment to excellence position it as a key player in catering to the increasing demand for ready properties. The Shaikhani Group's strategy focuses on creating value through high-quality real estate projects, leveraging its extensive experience and market insights to meet the evolving needs of the UAE's real estate market.

The shift towards ready properties is evident in the transaction data. Dubai's existing/ready market recorded nearly 19,600 transactions in the first quarter of 2024, a substantial increase from the previous year. This trend reflects a growing preference among buyers for immediate occupancy options, driven by the rising cost of living and the desire for stable investments. Similarly, Abu Dhabi witnessed a 30% increase in residential transactions for ready properties, underscoring the widespread appeal of owning over renting in the current economic climate. The Shaikhani Group's ongoing and upcoming projects are likely to benefit from this trend, offering potential buyers and investors high-quality, ready-to-move-in properties that align with their preferences for security and value appreciation.

Monday, March 25, 2024

Eight Strategies for Homeowners to Lower Their Mortgage Interest Costs

Purchasing a home is a major financial undertaking, and managing your mortgage effectively can result in significant savings. Utilizing smart strategies can help homeowners manage and reduce their interest payments, enhancing their long-term financial health. It's vital to maintain a comprehensive budget that includes mortgage payments, property taxes, insurance, maintenance, and utilities. Also, having an emergency fund is critical for unexpected expenses like job loss or major repairs. Here are concise strategies for reducing mortgage interest payments:


 

1.    Refinance to a Lower Rate: Consider refinancing to a new mortgage with a lower interest rate. This can lower your monthly payments and save money over the loan's life, though refinancing comes with fees.

2.    Eliminate Mortgage Insurance: If you have sufficient coverage, removing mortgage insurance premiums can lower monthly expenses, allowing more towards principal payments, thereby reducing interest and building equity faster.

3.    Debt Restructuring: Negotiate with creditors to reduce the principal balance or adjust repayment terms, including making lump-sum payments, which can decrease the amount owed and relieve financial strain.

4.    Opt for a Fixed-Rate Mortgage: Switching from an adjustable-rate to a fixed-rate mortgage offers payment stability and protection from future interest rate increases.

5.    Use an Interest Offset Account: Link a savings account to your mortgage to reduce the interest amount, lowering effective interest rates while keeping funds accessible.

6.    Invest Through SIPs: Systematic investment plans can hedge against rising interest rates, offering risk mitigation and consistent savings.

7.    Accelerate Loan Repayment: Incrementally increasing your repayment amount can align loan payments with income growth, allowing more towards the principal and reducing interest over time.

8.    Make Regular Partial Settlements: Paying an additional installment annually as a partial settlement can accelerate debt reduction, foster financial discipline, and leverage compounding benefits, aligning with long-term savings goals.

Wednesday, March 13, 2024

Sharjah Real Estate Booms: Transactions Hit $844m in February, Shaikhani Group Sets Customer-Centric Benchmark



Sharjah's real estate sector continues to thrive, with transactions totaling AED3.1 billion ($844 million) in February, as reported by the Sharjah Real Estate Registration Department. The month saw 4,458 transactions across various regions, indicating sustained growth and prosperity in the sector. This growth is attributed to the development projects in the emirate, which have attracted local, Arab, and international investments, yielding high returns for investors.

The government's support for the sector, through incentives and facilities for investors and developers, has also been instrumental. Sales transactions accounted for 23.5% of the total, with 355 mortgage transactions totaling AED581.4 million ($158.3 million). The remaining transactions included various types of real estate, such as residential, commercial, industrial, and agricultural lands.

"Muwailih Commercial" area led in both the number of sales transactions (213) and trading volume (AED382 million). Other areas with significant transactions included "Rawdat Al-Qart," "Al-Mazairah," and "Al-Khan." The Central Region saw transactions mostly in "Al-Madina Al-Qasimia," while in Khor Fakkan, "Al-Bardi 4" area topped the list. In Kalba, "Sur Kalba Commercial" area had the highest number of transactions.

Shaikhani Group, known for its customer-centric approach, emphasizes customer satisfaction by prioritizing client needs and preferences. This approach has earned them a reputation for delivering projects that exceed expectations. The group's commitment to transparency, reliability, and open communication ensures a positive experience for all stakeholders.

Innovative and visionary, Shaikhani Group is shaping sustainable and inspiring environments globally. The group's transformative projects redefine standards of quality and luxury in real estate and investment. For more information, visit www.shaikhanigroup.com.

Wednesday, March 6, 2024

Ahmed Shaikhani Applauds Positive Response to Shaikhani Cultural City at IPS Dubai


 


International Property Show (IPS) Dubai, the Shaikhani Group has expressed immense satisfaction with the public's enthusiastic response to their upcoming project, Shaikhani Cultural City, located in DHA Karachi. The positive feedback received at the event has reinforced the belief that there is a strong interest in the project, which aims to blend cultural richness with modern living.

Mr. Ahmed Shaikhani, a leading figure at the Shaikhani Group, addressed the media, stating, "The response at IPS Dubai has been overwhelming. It is clear that people are genuinely excited about Shaikhani Cultural City. This project is not just about building homes; it's about creating a community that reflects our rich cultural heritage while incorporating all the conveniences of modern living."

He further added, "We are committed to transforming people's dreams into reality through our efforts. Our aim is to create a green and sustainable society that not only benefits the residents but also contributes positively to the environment. With the backing of DHA, investors can rest assured that their investment is secure and that the project will deliver on its promise of higher returns."

The Shaikhani Group's project is set to be a landmark development in Karachi, offering a unique blend of cultural and contemporary living. The group's dedication to environmental sustainability and their commitment to delivering high-quality living standards have set high expectations for the project's success. As the project progresses, it is anticipated that it will attract more attention from both local and international investors, looking to be a part of this innovative and culturally rich community.

 

Embracing the Future: The Vision of DHA City Karachi as a Sustainable Green Smart City
DHA City Karachi is a groundbreaking initiative by the Defence Housing Authority (DHA), aiming to convert over 11,640 acres of land into a premium, diverse real estate development. Designed as a sustainable green smart city, it emphasizes centralized management, inclusivity, and resource sustainability through advanced technology use. Situated 56 kilometers from Karachi, the community is intended to be self-reliant in water and power supply, promoting a sustainable and environmentally friendly lifestyle.

With an estimated construction cost of 1 billion dollars, the project plans to offer a variety of amenities including two theme parks, a hospital, a university, 20 colleges, 40 schools, townhouses, healthcare facilities, educational institutions, a visitor center, a cafe, an amusement park, a clubhouse, and a mosque. DHA City Karachi places a strong emphasis on customer satisfaction in its marketing approach, incorporating modern architectural design and civil engineering services as the core of its land development strategy.

Sunday, February 25, 2024

Unlock Global Potential: Prime Investment Opportunities Await Overseas Investors

24-Feb-2024

Shaikhani Cultural City: A Joint Venture with DHA City

In a joint venture with DHA City, the Shaikhani Group is set to develop Shaikhani Cultural City in Sector 14 of DHA City. This ambitious project aims to be an architectural masterpiece and a cultural blend, encapsulating the essence of Pakistani culture, landmarks, and heritage, while also incorporating influences from renowned architectural wonders worldwide.

Shaikhani Cultural City will feature replicas of iconic Pakistani landmarks such as Lahore's Badshahi Mosque, Minar-e-Pakistan, Khyber Pass, Quaid-e-Azam's Ziarat Residency, Mazar-e-Quaid, Kothari Parade, and Frere Hall, as well as beautiful representations of Kashmir, Gilgit, and surrounding areas. The project will also include industrial malls, commercial and residential blocks with international themes such as Spanish, British, and Italian styles, showcasing traditional Pakistani craftsmanship and introducing tourists to the diverse cultural heritage of Pakistan.

The collaboration between DHA City authorities and the Shaikhani Group is a testament to their shared vision of creating a unique architectural venture that not only provides a serene living environment but also promotes cultural awareness and appreciation.

Quantity

  • A mixed-use project featuring 125 and 500-yard villas, townhouses, and multicultural apartment buildings.
  • Offering 2/3 bedroom apartments with a total of 3000+ apartments and 500+ villas and townhouses.

Value

  • Affordable pricing ranging from 70 lac to 90 lac, with flexible payment plans spanning 3 to 5 years.
  • The total value of the project is approximately 4.7 billion PKR, with Phase 1 estimated at 2.4 billion PKR and Phase 2 at 2.3 billion PKR.
  • The focus is on attracting overseas investors to invest in Pakistan.

DHA City Karachi: A Sustainable Green Smart City

DHA City Karachi is an ambitious project by the Defence Housing Authority (DHA) that aims to transform over 11,640 acres of ordinary land into a high-end, diversified real estate development. Envisioned as a sustainable green smart city, DHA City Karachi focuses on centralized governance, inclusiveness, and sustainability of resources through the use of cutting-edge technologies. Located 56 kilometers from Karachi, the community is planned to be self-sufficient in water and electricity, ensuring a sustainable and eco-friendly living environment.

The project, with an estimated construction cost of 1 billion dollars, is set to include a wide array of facilities such as two theme parks, one hospital, one university, 20 colleges, and 40 schools, along with townhouses, healthcare facilities, educational institutions, a visitors center, a cafe, an amusement park, a clubhouse, and a mosque. Customer satisfaction remains a cardinal factor in DHA City Karachi's marketing strategy, with modern architectural design and civil engineering services embedded at the heart of its land development paradigm.

Shaikhani Group: A Multinational Diversified Business Conglomerate

The Shaikhani Group of Companies, formerly known as Memon Group of Companies, is a multi-billion dollar international business conglomerate with diversified interests in real estate development, trading, manufacturing, and IT sectors. Headquartered in Dubai, the group has a strong market presence across 90 countries in Asia, Africa, Europe, and the Middle East, thanks to a recent major restructuring initiative.

#Shaikhanigroup #ShaikhaniCulturalCity #CulturalHub #Tradition #Explore #DHACity #CityLife #HomeSweetHome

Thursday, February 22, 2024

Dubai's real estate market experienced a bumper year in 2023

 

The number of deals recorded in 2023 climbed to 166,400, worth $173 billion




Dubai's real estate market experienced a bumper year in 2023, with transaction numbers soaring to a record high of 166,400 deals valued at $173 billion, according to the latest figures from the Dubai Land Department. The total number of real estate transactions across various market segments reached 1.6 million, marking a nearly 17% increase compared to the previous year. The overall value of these transactions amounted to Dh634 billion ($172.6 billion), showing a 20% growth in deal value and a 36% rise in the number of transactions from 2022.

The emirate witnessed significant growth in new real estate investments, which surged by 55% to almost Dh412 billion, with 157,798 deals involving 113,655 owners. Notably, 71,002 of these investors were new to Dubai's property market, and non-resident investors constituted 42% of the total new investors.

Marwan bin Ghalita, acting director general of the Dubai Land Department, highlighted that these results demonstrate the strength and versatility of Dubai's economic performance, contributing to the emirate's goals under the Dubai Economic Agenda D33. Launched in January last year, D33 aims to double Dubai's economy by 2033 and position it among the top three global cities.

Dubai's property market has rebounded robustly from the pandemic-induced slowdown, supported by government initiatives such as residency permits for retirees and remote workers, and the expansion of the 10-year golden visa program. The residential market recorded its highest quarterly price increase in a decade in the third quarter of last year, driven by strong demand.

The emirate's population growth is also bolstering the real estate market, with 100,240 new residents in 2023, bringing the total population to 3.65 million. Female investors made a significant contribution, with 38,059 women investing Dh90.5 billion through 46,725 transactions. Additionally, Gulf investors were active, with 7,449 investors making 10,441 deals worth Dh30.75 billion.

Dubai's economy continued to expand, with a 3.3% growth in the first nine months of last year, following a 3.2% increase in GDP to Dh223.8 billion in the first half of the year.

Surging Demand and Tight Supply Propel Dubai's Luxury Property Market to New Heights

  Certainly! Dubai's luxury real estate market has demonstrated remarkable growth, particularly in its prime residential sector, where p...