CEO of Ellington Properties on What Is Influencing the Dubai Property Market?

For the past one year UAE real estate market has shown good resilience and growth. So if we look at the changing character of the UAE economy and its appeal as a centre for living and investment in the world. Demand for luxury homes in the housing market has also increased, especially in prime areas around Dubai, Abu Dhabi and Ras Al Khaimah. Luxurious homes with world-class conveniences and a lifestyle of luxury and comfort appeal more and more to investors.

The co-founder and CEO of Ellington Properties offers opinions on changing customer tastes, market opportunities, and developer future plans.

There are some changes in supply and demand in Dubai's real estate market. The Dubai Land Department said that the average of 32,000 units in 2021 will rise to 37,000 units in 2023, therefore continuously increasing the number of finished units. This growth fits the population rise from 3.4 million in 2020 to 3.68 million in line with Dubai's 2040 is expected to touch a population of 7.8 million.

Seeking homes that include good technologies, sustainable materials, and modern home services, buyers also give sustainability and attractive design top priority in their property choices. Buyers from other countries are still drawn to the UAE because of its strategic location, business friendly surroundings, and lifestyle appeal. Recent visa changes including the Golden Visa have attracted foreign investment, hence driving demand from markets around the world.

People have seen less launches in the commercial real estate market for the past five years, which started the need for strategic planning to provide a balanced market that easily fulfills both housing and business needs.

Consumer tastes in the UAE real estate market have changed slowly for the past five years, showing local movements as well as more big situations in the world. At Ellington Properties, they have well noted these changes to match their products to the needs and choices of its customers.

Consumers are seeking homes that combine looks and convenience where everything gives a feeling of grandeur and requirement for quality and design. This builder has answered to this by making new beautiful buildings and interior design that speaks to contemporary style.

Modern buildings, environmentally friendly materials, and sustainable methods increasingly grab the interest of renters and buyers. Throughout the projects at Ellington, they have used sustainable design methods to make sure that they help to make a better future for the customers by offering better living surroundings.

Consumers are looking for communities that provide a whole lifestyle experience including access to leisure, dining, exercise, and entertainment facilities. The popularity of community projects has grown, hence Ellington is committed to give friendly communities that have peace and feel of happiness.

The development of Luxurious homes facilities has changed customer expectations. Modern homes with sophisticated tech tools like home temperature systems, improved security, and use of less electricity are appealing to people today. Health and wellbeing: Consumers are giving residences with wellness features like yoga studios, fitness centres, and outside areas for exercise and running are getting popular.

The practice of this builder is normally sustainable. Its development style is committed to include sustainable things, thus every project shows their plan to a better future. This includes using environmentally friendly products that lower the pollution and promotes better living houses for the residents. Additionally included are technologies that are meant to reduce environmental effect and electricity use as well as other systems.

Their goal is to provide lovely, friendly environments that improve the neighbours quality of living. This Builder thinks that homes should be comfortable and fashionable without affecting the sustainability, so giving a harmonic mix between luxury and environmental needs is a good thing to do.

Design, modern conveniences, and better customer service among the top things of this builder. Market study and development help them to include the new demands and practices, thereby making sure that the projects provide different and luxurious living environments.

One of the new properties called Mercer House, shows this plan with its own beach club with beautifully occurring sand in the pool. It also gives long and good client ties following handover, thereby promoting community and modern lifestyle. Planning events and activities for different occasions, like Eid, helps to make close ties with the community. Throughout the project design period, the customer-centric approach of the builder gives the residents to fulfill their needs and choices. Strategic alliances with better designers, professionals, and businesses also help the builder to make a strong brand by ensuring that their projects fulfills changing market needs.

People understand the good opportunities Al Maktoum International Airport presents for the area of Dubai World Central. Attracting companies, visitors, and locals, the new airport will hugely increase connectivity and economic activity. This higher demand will present chances for builders like Ellington to make new homes and businesses, thereby serving the wants of a growing population.

The builder wants to improve the amenities and attractiveness of its properties by carefully planning their developments to take benefits of the connectivity to the airport, therefore making sure for good growth and profit for Ellington Properties.

Their goal is to grow the portfolio for sustainability and modernity. They expect to reach new markets and keep improving style and standards in other emirates including Abu Dhabi and other places in the world, especially throughout Europe. Their plan is to establish themselves as top developers in the UAE and in the world by providing smooth living experiences that fulfills changing needs of the modern people.