Dubai: Melhem Al-Zubaidi
Cityscape Dubai 2022 maintained the momentum of visitors, investors and buyers for the second consecutive day to reap the best opportunities and offers to own a property, as the majority of visits and inquiries focused on the pavilions of Emirati companies.
The pavilions of Emirati real estate companies, such as “Arada”, “Dubai Investments”, “Azizi Development”, “Sobha”, “Donau” and others, saw an overcrowding of visitors to the exhibition throughout the day, with the aim of study the best prices and deals, form a general idea of the sector’s performance curve and identify the best options. .
Some local real estate companies that participated in this year’s session also recorded the closing of a number of marginal deals, the number or value of which was not specified. Exhibitors explained that the absence of large local development companies formed a pressure factor on the size or number of transactions, and the results of direct sales on the sidelines of the exhibition are likely to be more evident at the conclusion of the third day of the event.
The Cityscape exhibition will continue until Wednesday, November 23, at a time when the local market in the emirate is recording a strong performance, supported by billions of transactions and sales, as it is an important source of foreign direct investment in the world .
And workers in the local property market in Dubai expected this year’s edition of the “Cityscape” exhibition to show a diversification in the property offer, with a focus on luxury products, townhouses and villas, and it is likely to see large numbers in terms of of the number of visitors from all their segments as buyers, investors or Owners from around the world. Exhibitors from 15 countries, in which Emirati companies account for 40% of the total area of the exhibition and 60% for foreign companies, aim to attract real estate investment, especially with the continued growth of Dubai’s presence as a center for high – net worth individuals and an international market.
Turkey is taking part in the national exhibition pavilions, witnessing the participation of Pakistan and Azerbaijan for the first time. Competition for inward investment will be fierce as many foreign bidders, including the UK and Greece, seek to attract buyers. Early registration shows high demand for tickets from potential buyers from India, the United Kingdom, Russia, China, Ukraine, Turkey, Canada, Pakistan, Italy, Spain, Saudi Arabia, Qatar and Germany.
The second day of “Sitscape” saw real estate developer “Arada” announce the launch of Azalea, the fourth phase of the Masar community, in the green nature of Sharjah. Azalea was launched ahead of schedule due to high demand for the first three phases of Masar, which were completely sold out. The opening of the central entertainment area and show villa last September contributed to a significant increase in sales.
Azalea has 566 homes ranging from two-bedroom townhouses to six-bedroom luxury villas, which were introduced for the first time in the community of Masar. All units in Azalea will be equipped with standard smart home technology. Azalea is located on the northern side of Masar, where the homes will be within walking distance of the international school in the project. All houses will be completed by the end of 2024.
The total sales value of the path is 8 billion dirhams, and it includes a total of 4,000 houses in eight gated neighborhoods, connected by a central green axis with more than 50,000 trees. More than 30% of the masterplan has already been sold, strengthening its position as one of the fastest selling projects in the UAE. Masar was launched in early 2021.
increase in claims
Ahmed Al-Khushaibi, Group Chief Executive Officer of Arada, said: “Selling homes at such a record speed in a trajectory indicates that we are taking a correct approach in terms of delivering the appropriate product that meet the requirements of investors and aspirants to own a lifetime home During the past few weeks following the opening of the Masar Discovery Centre, we have seen an increase in demand as visitors have been shown what life is like in this integrated green community would be, characterized by the exceptional quality of his designs for the houses and the common areas around them.”
Construction of Sindian, the first residential phase of Masar, is currently underway, expected to be completed by the end of June 2023, while contracts for the second and third residential phases, Kaya and Robinia, will be awarded before the end of this year. Next December, the buffer zone around the residential community in Masar will be completed, including thousands of trees, in addition to two continuous running and cycling tracks of 6.6 km each.
On the second day, Azizi Developments announced the conclusion of an agreement with Dubai South, according to which it acquired a premium plot of land of 15 million square feet, located in the most likely area for growth in the emirate and more than 24 will include. million square feet of gross built up area. Under the same agreement, Azizi will be the master developer responsible for the construction of the project’s buildings, internal roads and infrastructure.
This took place in the presence of Khalifa Al Zaffin, CEO of Dubai Aviation City Corporation and Dubai South, Mirwais Azizi, founder and chairman of Azizi Developments, and Farhad Azizi, CEO of Azizi.
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Mirwais Azizi said: “This plot, with its large area, represents an exceptional opportunity to contribute to meeting the huge increasing demand for real estate with international specifications in the UAE in general.”
Khalifa Al Zaffin said: “We are keen to select partners who are compatible with our mission to enrich the lives of residents and workers across the emirate, and to contribute to supporting the vision of our wise government to make Dubai making it the best global city to live, work and visit. We look forward to Azizi starting the development of this new project, which will become one of the most prominent and valuable destinations in the emirate.”
It is worth noting that the plot of land purchased is part of the golf area in Dubai South, and occupies a strategic location within the candidate areas for growth in the emirate, especially with the rapid expansion that Dubai is seeing towards its southern regions. The plot of land is located along Emirates Road (E611) which was built to connect the Emirates and provide convenient access points to other major highways in Dubai and various other points of interest, making it one of the best connected locations in the southern part of the Emirate.
Azizi said that the planning and design work for the project has already reached advanced stages, and it will develop townhouses, villas, apartments and hotels. The company will develop types of hospitality projects from three to five stars, and a wide range of facilities, including a crystal lake in which you can swim, in addition to water features, parks, sports facilities (such as cycling and running tracks), a number of children’s playgrounds and green spaces. The project will be enhanced with innovative infrastructure and many other things that ensure that the needs of luxury and comfort for the residents are met.
In addition, Sobha Real Estate unveiled its new project, Sobha Hartland 2, a premier mixed-use real estate project, during the activities of Cityscape Dubai.
Spread over an area of 8 million square feet, Sobha Hartland 2 occupies 90 acres of green and open spaces. The project includes villas ranging from five to six bedrooms, and apartments ranging from one to four bedrooms, within a gated residential community that guarantees its residents leading levels of luxury.
PNC Menon, Founder and Chairman of the Sobha Group, said: “We are keen to achieve the highest standards of quality of life for our customers and to provide modern and diverse facilities and amenities, and we are confident that the new Sobha Hartland 2 project will attract a wide range of investors and residents as we are committed to innovation. Perfection and quality in work and the application of sustainable practices in all stages of construction and design. By following the reverse integration model at work, we aim to deliver this project within the specified date, and to present a pioneering real estate project that guarantees clients an exceptional experience.”
It is expected that the “Sobha Hartland 2” project will be completed in 2025, so that the handover of villas will start during the second quarter of the year, and residential apartments during the fourth quarter of the year.