GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate

 
  Share

Al Msaddi says unique Dubai project highlights need for developers, investors to focus on supply and demand factor

Dubai, UAE, 8 August 2017: One of Dubai's largest real estate brokerages, fäm Properties, has topped AED1.3 billion in residential property sales at City Walk, the new destination developed and managed by Meraas in the heart of Jumeirah.

Firas Al Msaddi, the fäm Properties CEO, said today that the bulk of sales were to first-time buyers of buildings, while just over AED325 million worth of sales were in the secondary market.

He believes the volume of sales delivers a strong message to both developers and investors about the importance of understanding, and capitalising on, the dynamics of supply and demand in the Dubai property market.

“It shows how important it is that developers study the current type and volume of property supply as well as demand in today's market,” he said. “This will allow them to create an exclusive product with unique specifications and features that fashion a new type of living experience, rather than duplicate something already in good supply.

“At the same time, there's a lesson here for investors about picking developments and properties that deliver new and more attractive lifestyle offerings to continuously attract end-users”.

City Walk is the only freehold, modern, low rise development in Jumeirah with exclusive retail and entertainment components. The five-and six-storey pavilion-style City Walk Residences are complemented by many first-time shopping, entertainment, hospitality and wellness options.

The project will house signature hotels, more than 300 retail brands and a High Street Boulevard featuring boutiques, galleries, restaurants & cafés.

Said Msaddi: “We were the first real estate company to start promoting City Walk to investors after Meraas launched sales, and we have channelled a great deal of capital investment under our control into the project because of its unique appeal.”

Now targeting AED1.5bn in overall sales at City Walk by end of Q3 2017, fäm Properties is using an 18-strong team of real estate advisors for all property management, leasing and sales requirements on site, while its engineering team is handling handover and snagging.

Special attractions at City Walk include the 20,000 capacity Dubai Arena and the Green Planet Bio-dome which recreates a tropical forest with 3,000 plants and animals.


Posted by : GoDubai Editorial Team
Viewed 3172 times
Posted on : Tuesday, August 8, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Real estate transactions in Dubai exceeded AED 390 billion in 18 months
Next Story : McArthurGlen Offers Middle Eastern Shoppers Special Gift to Celebrate Eid
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
SOUQ.com hosts two-day Samsung carnival with incredible offers on Mobiles, Weara...
Glamazle.com promises customers the perfect wings with its assortment of eyeline...
Protect your hair this summer with SachaJuan's Over Night Hair Repair
Perfect Fragrances to Celebrate Eid
100 New Ways to Transform Your Home With the New Ikea Catalogue
Next Major Smartphone From LG to Feature First-Ever OLED FullVision Display
LG V30 to Elevate Smartphone Camera to New Heights
Da Vinci With Moon Phase: Homage to an Icon
Eberhard & Co. SCAFOGRAF 300 timepiece
Michael Kors Access Expands With New Smartwatches, New Apps, New Faces and New M...
GCC's premium home appliance market to thrive with LG SIGNATURE
RAYMOND WEIL: Distinctive Freelancer 1212 Automatic for the elegant man
Michael Kors Debuts New Bancroft Handbag Collection
COÉGA Sunwear Launches Contemporary Autumn/Winter '17 Conservative Swimwear
Introducing the Fall 2017 GUESS Accessories Collection Advertising Campaign
A Post-Summer Pigmentation Saviour from MZ SKIN
SAINT HONORE: Opera resplendent with refreshing burst of freshness makes ideal E...
BOVET artisans introduce new dial materials Aventurine and Meteorite
Six Down, Two to Go - ADSB Keeps Up Pace in Delivering Ships to Kuwait
GROHE Blue Home – the private watersource for ultimate taste and enjoyment
The Ritual of Karma
Eid Al Adha with Paule Ka Fall-Winter '17
Malabar Gold & Diamonds receives Gemfield's ‘Retail Jeweller India Award'
Emily Ratajkowski wears Salvatore Ferragamo eyewear
Global Jewellery Retail Chain Joyalukkas signs Award-Winning Bollywood Actress K...
UAE is likely to see increased cashless transactions by 2020: Xpress Money's Str...
International SOS and Control Risks Advise Pilgrims Worldwide Ahead of Hajj 2017
Chronoswiss Regulator Classic Date in new size and with magnified date
ADNOC Distribution Announces New Retail Price of Unsubsidised LPG for Month of August
New UAE Space Agency Board of Directors Holds First Meeting
ICONIC announces ICONIC KIDS- Born Different
Zenith Chronomaster El Primero Full Open
Patrimony Collection Excellence Platine
Oasis Mall Brings Solar System to Life with Kids' Planetarium
The Government of Rajasthan & GEMS Education Announce Outcomes of the Inaugural ...
Dubai Land Department's ‘Ejari' smart application protects the right of all parties
Dubai Health Authority focusses on developing national talent in the health sector.
Turkish Airlines' cross-continental flights are more comfortable now with the ba...
Highly Anticipated Audemars Piguet Royal Oak Extra-thin Arrives in the Middle East
Entries open for ninth annual MEPRA Awards
Win prizes worth over AED 2million with Al-Futtaim's retail brands
Abu Dhabi Ports seals strategic partnership with Healthpoint for wellness-coachi...
UAE Team Emirates to Make Vuelta a España Debut
Dubai Chamber hosts workshop on VAT compliance in UAE retail sector
Growing appetite for seafood drives demand at Middle East's largest dedicated se...
Dubai Land Department Awarded Two ISO Certificates in Quality and Environmental ...
Ministry of Climate Change and Environment to Supply 9,500 Tons of Fertilizers t...
Dubai Culture Hosts Calligraphy Workshop in Erada Centre for Treatment & Rehab
"WATHIQATI" Receives the highest number of documents since its launch ...
AED 21 Billion Worth of Dubai Real Estate Projects Launched Since the Beginning ...