After luxury homes,
mid-market properties will get their chance in sun
2021 turned out to be a banner year for Dubai’s luxury real estate,
reaching a “Black Friday” fever pitch, and catching almost everybody off guard.
As the year progressed, mid-market property started to pick up as well, albeit
from a far lower base level with moderate upticks, signaling an increase in
confidence as businesses started to stabilize.
The price cycle was a near mirror image of what happened in the first
boom cycle of 2011-12, with luxury leading the fray, followed by the
mid-market. Broadly speaking, with payment plans continuing to be the main
driver for new sales, that trend is expected to repeat itself this year,
especially as the headwinds of a rising interest rate cycle come into play. In
that sense, repetition can itself be a pleasure: it creates and fulfills
expectation at the same time, and provides an illusion of control.
We get what we are expecting - and what we wanted. That is the
satisfaction of formula fiction: we know that the mystery will be solved and
that all will be well at the end. But it can also be a painful repetition of
being helplessly stuck in a pattern, in thrall to an obsession, a habit that we
cannot break.
With repetition, the story becomes a cliché, a dead metaphor that has
lost its figurative power. Yet as Dubai’s experience states, the story of every
price cycle has led to the spawning of new communities where tens of thousands
of investors and end-users benefit, through a process of gentrification,
revival of stalled projects and re-zoning opportunities that lead to a more
efficient allocation of capital going forwards.
Unlock value from
stuck projects
In 2022, while these themes will continue to perpetuate themselves, the
accelerated pace of change translates into tapping in the world of the
unconscious, of deep-seated anxieties and desires. It is this aspect that gets
most derided in analytical literature, as first-time buyers remain the holy
grail for most developers.
For investors caught in the cycle of stalled or delayed projects, the
propensity to invest again becomes the biggest obstacle. This remains the
driving factor as to why the revival of projects will continue to play a major
role this year, especially as value discovery has returned to the fore in
developed communities like Dubai Marina, Jumeirah Village, Business Bay and
parts of Dubailand. This is even more visible in upcoming communities. But the
evolutionary solution - which at the higher end involves end-users constructing
their own villa residences and/or protracted litigation punctuated by below replacement
value sales from distressed owners - hardly qualifies as a non-zero sum game
outcome.
Everything is still
in play
Even as brokerages offer “swap mechanisms” (which ultimately is a
simplistic mechanism of baking higher prices into newer projects), the ultimate
goal remains the disentanglement and the unlocking of values from these delayed
projects, a process we have witnessed in other parts of the world. There is no
doubt these projects are an externality of rapid urbanization. Yet, as 2021 has
shown, these externalities can be overcome and where they have, it has allowed
affected investors to renew their confidence in the marketplace.
The picture then, that we see swimming into focus, is that of a city
with a direct gaze that is challenging, a half-smile that is all knowing about
what lies in store.
It is unlikely that the white hot pace of 2021 will be repeated. But
there will be common themes of repetition; namely the renewed focus on
mid-market housing, attracting first-time buyers and enticing existing owners
to move up the ladder. These stories have been endlessly told and scrutinized.
In addition, what we hope is a laser-like focus on investors who have not fully
participated in the upside of past years.
The reforms, along with the price action and capital influx have been
the perfect cocktail to induce activity on this front such that the demand
curve (rather than the obsession of supply) can get a a jolt higher. If the
stories of 2022 can include in its count of victors those who have managed to
break past patterns, the market will have surely catapulted itself into the
next stage of evolution.
This has been a long time coming. Dubai’s history suggests that this is
now inevitable.
Shaikhani
Group said, this coming year would be the simplest year for the Dubai. it'll be
a boom for each industry. Moreover, they're trying their best to extend the
productivity of their projects so it'll fork over by the top of this year….
Shaikhani Group explained, Dubai is
understood by doing things on right time, they come up with those ideas where
people think’s it's impossible, while ago Dubai was a desert, now nobody can
say this was a desert. People like to visit Dubai for holidays, because all
facilities are there including security which may be a basic necessity of life.
Dubai is one the simplest city to measure where
everything is
out there on the doorstep, this is often why
Shaikhani Group invested their money, and that they do have
different projects which are successfully in process. Shaikhani group
tries to seek
out the simplest deals with good luxuries therefore the customer
can enjoy all the luxuries at full Shaikhani group already handover few
projects in Dubai worth of many dirhams, they always achieve their target on time
which shows the positive sign of their progress. Soon they're going to handover
gardenia residency which is found in Jumeirah village circle, it's been
expected they're
going to handover this project by the top of 2022 or even earlier
depends on the working conditions and environment
As the
pandemic situation is that the worst within the whole world,
things are really difficult to mapped out because during this situation we've to
be very careful taking extra safety precautions to form sure to not put
labour’s life in
danger because this work needs tons of manpower and thanks to pandemic we've to take care of the
6-foot gap, so what we've provided our labour high-quality equipment to form sure
work doesn't compromise and customers will get their apartments on time quite 1000
units handover within
the projects of Cambridge business centre, champions tower 1
and Frankfurt sports tower 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
a couple of approximately value 300 Million dirham are going to be deliver
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