It’s hard to believe it is only 19 short years since Sheikh Mohammed unveiled the vision for Dubai’s real estate market. In that time the city and its economy have transformed – several times – and its model for internationally-owned, freehold property, adopted across the Gulf.
Overall, sales prices of apartments and villas in Dubai weakened by 2% and 6%, respectively. Softening demand due to the economic uncertainty combined with the excess supply of residential brought further correction of the prices during Q4 2017. However, the volume of ready units transacted rose in Q4 compared to the previous quarter.
Today we live in an environment that is overloaded with information, which has given rise to the empowered customer.
Dubai is once again the undisputed leader when it comes to attracting high net-worth investors from the GCC countries, according to Joseph Ghossoub, Chairman of luxury residential real estate developer, G&Co.
G&Co Real Estate Development, a premium property developer based in Dubai, is currently showcasing its $2 billion project portfolio at the International Real Estate and Investment Show 2017 (IREIS 2017) in Abu Dhabi, which starts today at ADNEC and runs until November 4, with its Cassia at the Fields development at the forefront.