Zazen Properties expects the FIFA World Cup Qatar™ to boost the growth of the residential real estate sector in the UAE

● Expectations point to a 40% increase in demand for accommodation in the UAE

● The third quarter of 2022 witnessed 25,456 sales transactions worth AED 69.72 billion

● The off-plan property market in Dubai recorded a growth of 130 percent during the first half of this year

Dubai United Arab Emirates: Zazen Properties, a leading real estate developer, has revealed that the residential real estate sector in the UAE has registered a strong growth rate. The local benchmark indicates that sales of off-plan and secondary properties in Dubai reached a 12-year high in the third quarter in terms of volume and value. Zazen Properties reveals its own analysis of why this trend will continue for the foreseeable future.

Zazen Properties predicts that the 2022 FIFA World Cup in Qatar will significantly impact the residential property sector in the UAE in the coming weeks, as the UAE will record demand for accommodation by up to 40%1%, with many visitors coming to watch. This tournament is to take advantage of the advantages of Dubai and invest in it, as it is one of the preferred destinations for these visitors thanks to its position as a leading global destination for tourists and its proximity to Qatar.

During the first half of 2022, the off-plan property market in Dubai achieved a growth rate of more than 130 percent, as approximately 85 projects were launched, containing more than 130,000 housing units2. The property market in the UAE is also characterized by providing a variety of buying options as it caters to the needs of high net worth individuals, who make up a large percentage of visitors to the FIFA World Cup in Qatar, to meet their aspirations to meet in buying luxury real estate, as well as the needs of real estate buyers from the middle segment of the global market.

From an investment perspective, both categories benefit more from the latter part, as it is characterized by a lower purchase value in exchange for a higher rental return on investment.

Commenting on the matter, Madhav Dahar, co-founder and COO of Zazen Properties, said: “We expect more than one million tourists to visit Qatar during the World Cup, leading to a significant influx of visitors to neighboring transit hubs such as . Dubai.Benefits for the residential real estate sector In the UAE, hotel occupancy rates in Dubai are expected to exceed 90%, and performance during the fourth quarter will reach levels similar to those achieved during Expo 2020. Many visitors passing through Dubai will buy real estate assets for investment or personal use, where the residential real estate sector enjoys long-term value due to an increase in average apartment rents by 27%, despite the high property prices in the UAE,4 “Three bedroom units are the units with the highest demand. They will also compare high-quality European products with the advantages enjoyed by the UAE market, especially in the areas of sustainability and community facilities.”

The third quarter witnessed the registration of more than 25,000 real estate transactions worth approximately 70 billion dirhams, recording an increase of approximately 62% in volume and more than 65% in value. The secondary sector witnessed the registration of more than 4,200 transactions worth about 15 billion dirhams, in addition to the registration of more than 4,400 transactions in the off-plan sales sector, worth about 10 billion dirhams, in September, to recording its highest monthly level5. . The momentum recorded throughout the year in the Dubai real estate market continues, and this trend is likely to continue as the FIFA World Cup in Qatar approaches.

In January 2022, Zazen Properties handed over its flagship project, Zazen One, to be completely sold out within months. The leading local brand has also launched construction on its latest project, Zazen Gardens in Al Furjan. Limited sales of some units 4 have started 5 off-plan-and-secondary-property-sales-hit-12-year-high-in-

Officially residential, in collaboration with the agency One Broker Group, the main sales partner. One Broker Group is a leading real estate brokerage company that provides its professional, transparent and customized services across the UAE. For more information, please contact us via WhatsApp or call the team at +971501709376.


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About Zazen Properties:

Since its establishment in 2018, Zazen Properties aims to develop unique and sustainable projects within the most famous communities and residential destinations in Dubai, to meet the needs of middle-class clients and to provide an integrated community fabric within each building.

The company completed Zane One, the pioneering project with its privileged location within the Jumeirah Village Triangle, last January, which has been nominated for more than one award in the field of design and sustainability, recently winning at the Sustainability and Innovation Awards 2022, the Best Sustainable Real Estate Project and the Best Residential Project Award. At the 2022 International Property Awards held in the United Kingdom. As a result, the units of the Zazen One project were sold within six months, thanks to the various amenities and facilities it offers to the residents.

Zazen Properties continues to provide projects that raise the levels of design, sustainability and the community environment at reasonable prices to achieve its ultimate goal of enhancing the lifestyle in Dubai. The company has begun designing its next residential and commercial project in the Al Furjan complex near Discovery Gardens metro station, with construction expected to begin in the third quarter of 2022.

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