The real estate sector will record historic levels in the coming years
17 May 2023, Dubai Week
Ahmed Al Suwaidi, General Manager of Residential Complexes at Dubai Holding Asset Management Company, said that the real estate sector in Dubai has great potential thanks to the solid foundations of policies and initiatives launched by our wise leadership in the UAE over the past years. to, and the real estate sector emerged as one of the tributaries. It is important to the economy of the emirate, and the Dubai government’s plans for the real estate sector provided all the measures and initiatives that contributed to achieving record levels on a local basis. and foreign investments and real estate sales, which have made Dubai a regional and global leader.
In a statement to Emirates Today, Al Suwaidi said Dubai’s real estate strength has made it a safe, healthy and ideal location for global investors seeking a safe, healthy and investment haven over the past years. Its historic levels in the coming years.
Al Suwaidi continued, “Residential unit rents in Dubai will hit an all-time high in 2022. Average apartment rents increased by 27.1% during the period, while average villa rents increased by 24.9%. According to CBRE’s expectations for the UAE real estate market, the number of lease agreements registered increased by 10.8% year-on-year, with demand also increasing significantly.
One of the most important skills required is a detailed understanding of the needs of the real estate market and this requires understanding and following the demographics as well as a detailed study of the dynamics of supply and demand in the market. Key economic indicators that can influence the direction of real estate in Dubai in general.
He explained that the continuity of the work to develop and improve the real estate portfolio requires continuous analysis of the real estate market in general. Improving efficiency and effectiveness of real estate portfolio.
Al Suwaidi emphasized that capital planning is essential for the development of residential complexes, as the development of a long-term capital plan leads to periodic updates and improvements in service facilities and residential complexes according to a specific schedule, which improves the quality of life of residents. Attracts more tenants.
He pointed out that real estate rental companies have certain features that differentiate them from individual leases. For example, real estate rental companies like Dubai Holding Asset Management typically have a team of professionals responsible for managing and maintaining residential complexes. Customer experience and high standard. It is differentiated by quality and service rather than leasing from individuals, and by adopting consistent policies and procedures to ensure a consistent level of service across the various properties in the portfolio, including lease agreements. , rent payments, maintenance and transfer requests etc. In addition, Dubai Holding Asset Management continues to identify and work on technology solutions that enhance the home comfort and living experience, such as the “DubaiAM” app. Payment of rent, maintenance requests and communication with the management of residential premises.
This is in addition to offering a variety of unique activities and events throughout the year aimed at providing tenants with an exceptional and enjoyable living experience.
He pointed out that the company manages the largest portfolio of integrated residential complexes designed to meet the diverse lifestyles of individuals or families, and that the success of the real estate leasing model is based on developing a comprehensive approach based on understanding the true diversity of aspects. Adopt an innovative long-term vision aimed at strengthening the estate market and real estate portfolio in Dubai and assist in making sound decisions to ensure sustainable success.
Al Suwadi explained that Dubai Asset Management comprises 15 residential complexes, which are one of the largest portfolios of residential complexes in Dubai, which have contributed to establishing the city’s reputation as one of the most dynamic cities in the world, and that these residential complexes are one of the best places to live in Dubai, with a number of retail centers, to manage the complexes. In addition to the presence of a dedicated team, it provides 24-hour, seven-day-a-week security and care.
Dubai Holding Asset Management’s residential leasing portfolio has seen a fresh rise in demand for corporate housing services, which include housing solutions for employees and workers in various sectors, and this rise has affected key sectors such as education, tourism. , hospitality, aviation and catering, thanks to the emirate’s continued pioneering economic initiatives, improvements in visa and investment policies have been instrumental in stimulating growth within these sectors and attracting more talent and specialized skills.