UAE: 5 reasons to invest in off-plan Dubai real estate - News | Khaleej Times

The Dubai real estate sector posted strong growth in 2022 as sale transactions rose by 76.5 percent. The emirate's under construction real estate segment was particularly successful, with an explosive surge of 144 percent, contributing to the overall growth of the UAE real estate market. This positive trend is expected to continue into 2023 as another 115,000 units are currently under construction, of which 34,000 have surpassed 70 percent completion and are scheduled for delivery by the end of the year.

Despite factors that typically contribute to economic downturns, such as ongoing turbulence in Europe and a looming global recession, UAE real estate is thriving thanks to changes in''s consumer behavior; one-third of the country's population is between the ages of 20 and 30, and 90 percent of this group prefers to rent properties in the early stages of their careers, but many of these people who have saved up are willing to invest in affordable under-construction properties.

Last year's FIFA World Cup in Qatar also had a significant impact on the growth of under construction real estate in Dubai. Participants, many of whom were high-income individuals, traveled through Dubai, giving them a better understanding of what the emirate offers and why it is globally recognized.

With the continued focus on the UAE and the continued growth of under-construction real estate, the increased interest in such unfinished properties can''be driven by several market factors such as: high return on investment. Buying properties under construction allows investors to purchase properties at the earliest possible time at the lowest possible price, while offering a variety of options to select the best units under construction. In addition, an approximate down payment of 10 percent proves to be an affordable option, especially when compared to the typical 20 to 25 percent cost associated with buying completed projects.

Payments. An additional element of affordability in under-construction real estate is convenient payment schemes, which can benefit both investors and end users. Payment schemes can''Al Furjan, which continue to be among the most attractive options for high quality affordable housing.

Safety and regulation.

Sure. If a property under construction''bought with a view to later occupation, the owner can be assured that he will be the first to enjoy his purchase. Like the development itself, his apartment will be delivered to him brand new with a one year defects liability warranty, ensuring that the developer will take responsibility for rectifying any defects. In addition to this, developments are often accompanied by state-of-the-art design, technology and amenities. For example, the world's first environmentally certified development, ZaZen Gardens, with an integrated wellness complex, is currently under construction in Al Furjan. Upon reaching its completion date, ZaZen Gardens will help residents live better lives through modern sustainable design, high quality''finishes, convenient connectivity and a host of public amenities consistent with the 2040 Dubai Urban Master Plan and the UAE's 2050 Net Zero commitment.

Madhav Dhar is co-founder and CEO of ZaZEN Properties.

The views expressed are his own and do not reflect the policies of the newspaper.