Fäm Properties tops AED200 million in Bluewaters residential sales
One of Dubai’s leading real estate brokerages is reporting a new wave of investor interest in prime real estate after topping AED200 million in residential sales at the Bluewaters island development.
Firas Al Msaddi, CEO of fäm Properties, says a stronger focus on what makes the best buys for short-term holiday home rental or re-sale has been key to investment in the Meraas development, which houses the world’s largest observation wheel, Ain Dubai.
“We have learnt from experience that buying full buildings is not the best strategy for our investors, especially in slow markets, as only the best units perform well on rent or resale,” said Al Msaddi.
“So at Bluewaters we went into every building and almost every single unit to understand what really were the best properties. The deals secured included the entire front of one building on five floors overlooking the wheel and facing the sea, the Palm Jumeirah and the skyline.”
Currently managing a portfolio of over AED2 billion for investors, having channelled more than AED5 billion of investment into Dubai, fäm Properties says 50% of the inventory at Bluewaters has been earmarked for bulk sales for short-term holiday homes based on their ideal location. The other 50% will go back to the market on resale as the best units available.
“One of the factors which makes Bluewaters so attractive is that the master developer retains a very big interest in the project because they own all the retail elements and the hotels, “ said Al Msaddi.
“This ensures they will always channel enough traffic to the development and allocate a good marketing budget to promote it locally and globally, which is something investors can leverage.”
Located just off the coast at Jumeirah Beach Residence, Bluewaters is a family-oriented island destination featuring a selection of premium apartments, penthouses, and townhouses, as well as almost 200 retail and dining concepts
A purpose built bridge connects the island with Sheikh Zayed Road, while automated vehicles will transport passengers to Bluewaters from Dubai Metro’s Nakheel Harbour and Towers station.
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