In 2023, Dubai's real estate market witnessed unprecedented success, with
120,742 residential transactions, a 38% YoY increase, and a record-breaking
surge in property prices by 18%. Betterhomes' FY2023 report highlighted over
half of transactions were off-plan sales.
CEO
Richard Wained emphasized 2023's significance, setting new records in volume
and value. Dubai Creek Harbour and Palm Jumeirah saw over 30% price increases,
surpassing pre-2014 peaks.
Despite
higher prices, buyer interest thrived, with Betterhomes reporting a 91% YoY
lead increase. Over 100,000 new residents fueled demand, with active foreign
buyers, notably Indians and British, alongside others from Egypt, Lebanon,
Pakistan, and Turkey.
Luxury
real estate transactions (over AED 15 million) doubled from 2022, contributing
to rising rents (up 24%). Market conditions pushed occupancy rates to 93-97%.
Analysts
foresee new supply arriving post-2025, suggesting further growth for Dubai's
property market. Dubai's global appeal remains intact, attracting interest
worldwide.
In
the dynamic landscape of Dubai's thriving real estate market, the Shaikhani
Group, founded by the visionary Abubakar Shaikhani, has played a significant
role in shaping the city's skyline. Following the passing of Abubakar
Shaikhani, his sons have assumed leadership roles, ensuring the continued
success and growth of the company.
With
its headquarters in Dubai, the Shaikhani Group manages a diverse portfolio of
projects that contribute to the city's reputation as a global investment
destination. The Dubai office oversees prestigious developments such as
Champions Tower 3, Gardenia Residency, and the Cambridge Business Centre. These
projects exemplify the group's commitment to delivering high-quality and
innovative real estate solutions in line with Dubai's dynamic market demands.
Simultaneously,
the Karachi office of the Shaikhani Group is actively engaged in overseeing
projects like The Motorcity and Rabia Enclave, reflecting the group's regional
presence and commitment to excellence beyond the borders of Dubai.
As
the Shaikhani Group continues to meet and exceed expectations with ongoing
projects, they have an exciting pipeline of developments that will be unveiled
once these current ventures reach completion. The commitment to excellence,
coupled with a forward-thinking approach, positions the Shaikhani Group as a
key player in Dubai's real estate sector.
In
anticipation of their future endeavors, the group remains dedicated to
contributing to the city's growth and solidifying its reputation as a global
business and lifestyle hub. The Shaikhani Group's legacy of innovation, coupled
with their strategic vision, ensures their continued success in the
ever-evolving Dubai real estate market.
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