In a survey by global market research company YouGov, the UAE and Dubai real estate property sector’s position is stronger than ever. The survey showed that 60% of investors are expecting the dubai’s real estate market to become even more vibrant in the next 12 months.
The same survey also indicated that half of home buyers (54%) are eager with regards to the Dubai real estate industry’s growth, or three-fifths (58%) thinks that there will be an increase in sales and rental prices over the next year. These numbers indicate towards a buoyancy in the UAE and Dubai real estate market.
These numbers emerge as an anticipation to an influx of thousands of real estate property investors for the Cityscape Global, one of Middle East’s largest real estate property event. The event will be held in Dubai World Trade Centre from 8 – 10 September, where over a hundred local developers will participate in the 14th edition of the event to showcase their latest projects.
YouGov’s survey reveals just how location is an important factor for investors in choosing real estate properties to purchase in the Emirates. With a sample size of 861 UAE residents, the survey showed that the most attractive and in-demand real estate are the ones near public transportation (56%), the ones close to grocery stores (44%), shopping malls (41%), and then Mosques (37%).
Mounted specifically for Informa, the organizers of Cityscape Global, the study went on to reveal that studios and one-bedroom apartments are becoming the most preferred type when choosing what property to buy. This lead investors into diversifying their developments to offer smaller, more affordable residential options.
Emirates NBD, together with Abu Dhabi Commercial Bank, First Gulf Bank, Commercial Bank of Dubai and National Bank of Abu Dhabi will offer competitive mortgage rates and professional advice at Cityscape Global.
Lara Al Barazi, YouGov’s Head of Real Estate Research said: “The study highlights positive sentiment across the board. Investors, potential home buyers as well as real estate professionals are expecting growth to continue in the Dubai real estate market in the coming year. The most positive news is the extent of trust investors place in the residential property market, which reveals the high potential this sector has and the importance of understanding what appeals most amongst prospective buyers.”
With more than 300 exhibitors to showcase from around the world, Cityscape Global had to get two additional exhibition halls – 4 more halls since 2013 – beefing up its total exhibition space to 40,00sqm.
Also, this year’s Cityscape Global takes on a new format, where the conference will be staged a day before the exhibition at Conrad Hotel Dubai.
YouGove will exclusively present their findings from a study made with 1,500 UAE Real Estate Market Sentiment, putting its vision at the future or investors, real estate professionals, and potential home buyers at the morning conference.
The new format will now facilitate more than 800 senior real estate professionals and government officials. They will look at more opportunities and find key solutions to challenges that may hamper the industry’s growth.
The Cityscape Awards for Emerging Markets will also run parallel with the exhibition, where the programme will attract hundreds of award entries from developers and architects behind such developments across emerging markets throughout the world. The winners will be declared at an elaborate ceremony at Conrad Hotel on 8 September.
Cityscape Global 2015 returns with support from Dubai Land Department and Foundation Partners: Emaar Properties, Dubai Properties and Nakheel; Gold Sponsors: Arma Properties; Garanti Koza and Al Marjan Island; Silver Sponsor Sobha LLC; District Operator Sponsor: Ejadah Asset Management; Project Marketing Sponsor: Aqua Properties and Property Registration Trustee Partner: Tamleek Property Transfer.
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