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Mazaya Monthly Real Estate Report -
Week 1 - August 2016
Al Mazaya's report further indicates that
projects – directly and indirectly related
to the event – along with government
projects, are all comprehensive as they
include several positive aspects. It has
become clear that those projects are
able to protect the market from several
pressures. This fact comes along with
the emergence of the first signs of
completion of several large and medium
sized projects – foremost of which are the
Mall of the World project, Mohammed Bin
Rashid City Project, Dubai Water Canal,
Dubai Amusement Parks Project and
Dubai South Project which will host the
event. This pace has a positive impact
on developers and boosts investor
confidence in the Dubai real estate
market. In this regard, it is important to
emphasise the fact that the cumulative
experiences acquired by the real estate
market in the emirate over the past period
have had substantial influences on the
success of all projects, while the supply
of projects is in harmony with the pace of
demand for housing units. The housing
sector has continued to maintain its
investment attractiveness, which has
supported the buoyancy of the market.
The report also asserts that the
pace of projects in progress has
contributed to mitigating the decline
in real estate prices, as the real
estate prices in Dubai over the past
two years were marked with slow
and gradual declines not exceeding
12% in average, a ratio considered
satisfactory relative to the volume of
pressures faced by the markets of real
estate and non-real estate investment
at the global level as a whole.
On the other hand, market data indicates
that the prevailing prices so far this
year are considered firm, which boosts
the attractiveness of the Emirate as
one of the top safe havens in global
markets. Maintaining the pace of activity
and demand along with continued
offering of new projects would give the
UAE real estate sector an additional
competitive edge at a time where many
markets face big challenges that are
hard to overcome in the short run.