Only innovative developments can attract new customers

Property developers in Dubai cannot simply duplicate their existing projects because new developments ought to add worth to the emirate’s economy and attract new varieties of demand once the most recent initiatives proclaimed by the government.

Emaar is attracting new varieties of customers because it’s not simply building towers however destinations and landmarks. Similarly, alternative developer’s ought to faucet new streams of tenants, not regular tenants like people who have already got residence visas there.

The trend of arising with 10-20 same varieties of buildings won’t happen once again in Dubai. developers ought to sell the concept and say what they trying to do with the land and the way a lot of worth it’ll augment to the economy.

Dubai has shaped a replacement committee to manage the pace of land projects and convey stability and balance between supply and demand. it’ll additionally make sure that there’s less direct competition between non-public and semi-government developers.

If one looks at new forthcoming master communities, Emaar has brought the world’s next tallest tower and Meraas to the world’s largest observation wheel. They brought new ideas to City Walk as well. Less direct competition from government-backed developers may additionally encourage overseas investment from international developers as a lot of opportunities become offered.

Controlling supply can facilitate sales costs increase, however it’ll not facilitate rent costs increase dramatically.

“Rent costs born not solely thanks to the rise in supply, however additionally thanks to the rise within the value of living here in Dubai. however still the income here is extremely enticing compared to alternative major cities around the world; creating 6-8 per cent come back on investment on rent is brilliant if one compares it to the remainder of the planet developers cannot contend.