ARTAR COO says the emirate’s property market has a proven reputation for delivering long-term benefits
Indian investors will continue to put their faith in Dubai real estate in 2017 because the emirate’s property market has a proven reputation for delivering long-term benefits, a developer says.
Okbah Abdulkarim, Chief Operating Officer of ARTAR Real Estate Development, says Dubai’s status as a safe haven for real investors remains intact and major developments driving the economy are building investor interest, particularly from India and the GCC countries.
The Dubai Land Department has reported that out of almost AED 44 billion in foreign investment in Dubai real estate last year, Indian nationals led the way both in terms of volume and value, with 6,263 investors making AED 12 billion worth of property transactions.
“Dubai has very strong links, traditionally, with India, and the Indian market will remain a very important one for Dubai real estate this year and beyond,” said Abdulkarim, currently overseeing ARTAR’s Mada Residences tower in Downtown Dubai.
“Indian investors know, like and trust Dubai to deliver and, like investors from across the Arab world and beyond, will be encouraged by the major developments taking place in Dubai which will help drive the economy.”
The Dubai real estate market has made a strong start to 2017, with the Dubai Land Department confirming transactions worth AED30 Billion for the month of January.
Added Abdulkarim: “Dubai has built protection from negative economic effects by creating an infrastructure for business, investment and living, and by promoting all this to a worldwide audience over the last 20 years or more.
“It is seen as a safe haven for investment, particularly in real estate, and while events over the last couple of years have affected confidence, Dubai is still regarded as a city where residential property provides long-term financial security.”
ARTAR says the biggest real investment will continue from 2016 in prime locations like Downtown Dubai, where Mada Residences will be completed on schedule by Q2 2018 close to the world’s tallest building, the Burj Khalifa.
“More and more investors these days are focused on recreation and prefer locations which allow people to walk rather than having to drive everywhere and find parking,” says Abdulkarim. “Areas like Downtown are the most popular because there are so many attractions close at hand, and Dubai’s weather is perfect for walking seven months of the year.”
With 193 larger than average 1, 2, 3 and 4 bedroom luxury apartments, Mada Residences is a one-minute walk from the new Dubai Mall extension and within easy reach of other major attractions such as the Dubai Opera.
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