Dubai: ali dawly
It is a simple but at the same time difficult question.
Well, studio apartment segment has been so common in the real estate industry. But due
to the adverse effects of Covid-19 on health and community, families do prefer simple, spacious and less populated communities all around. We in fact have implemented this demand in our Gardenia Livings project by building one-bedroom and two-bedroom apartments. Studios are in-demand at least at this period of time. So, environment-friendly and sustainable projects are on higher demand.
Real estate business is one of the core businesses in Dubai’s economy. During 2008 recession there was less demand as it was all over the world during that period. Many investors lost businesses and people had to sell their properties in order to cover their expenses and lifestyle.
But today, the scenario is different with the successfulrecovery from the pandemic. In contrast, there is more demand than ever before for Dubai real estate.
There is a rationale for this demand. One, increasing population of the UAE which – currently close to 10 million according to the official records. It is probablymore if we include the unregistered residents. Therefore, 10 million plus need housing.
Dubai along has its own demand. According to the Dubai Statistics Centre records till March 2021, the supply of apartments and villas in Dubai is over 690,498 units as of 2020, catering to the city’s 3.4 million population.
Analysts estimate that Dubai will require between 483,000 and 550,000 additional residential units over the next two decades to accommodate its estimated 5.4million population by 2040.
For me, Mr. Saxena explained, “more majority of UAE residents and families prefer to live in Dubai due to city’s lifestyle, safety, hygiene, better medical facilities, schooling and business environment among other factors.
Our construction firms are coming over AED100 million per annum. However, with our in-depth experiencespanning over 40 years which we have in the construction and real estate fields, we are diversifying into training and advising developers as well as investorsabout how to run the safest and the most secureprocedures. We have the relevant case studies and demosabout how to secure safe return of funds, in line with market criteria and location.
It’s obvious with the presence of mega projects, business activities and global events being organised in the UAE, for example, Expo 2020 Dubai, Dubai Air show, Boat Show and Gitex among many other events runningthroughout the year at World Trae Centre.
So, Dubai and UAE are on the right track, ranked among the safest countries in the world.
Yes. Based on our Dubai real estate market assessmentand success of our first project – Gardenia Livings – our new project in Jumeirah Village Circle (JVC) will be announced soon. Just to touch base, our next project will be comprised of villas and townhouses. We are meeting with global iconic brands for our upcoming project.
Dubai Land Department has well defined regulations which are flexible and secure all parties in the real estate development.
Further information required
Bio of Mr Shahzad Saxena
A highly experienced entrepreneur who laid the foundation for the successful Silgo Group today in 1984. After its inception Mr Saxena lead the organisation to success in the field of construction, construction management, and value engineering providing end to end solutions to construction sector. A successful career as architect and building contractor in Dubai, Mr Saxena continuously reinvented the business from a small maintenance firm in 1984 to the diversified leader serving sectors like contracting and engineering, trading, event management, real estate brokerage and development. Under MR Saxena’s leadership the group delivers value at every stage of business evolution for industry partners and customers.
End