Confirmed that the emirate is emerging as the best destinations for global investors
Dubai Asset Management: Real estate sector will continue to record historic levels in the coming years
Average villa rents increased by 24.9%. ■ Archival
Ahmed Al Suwaidi: "Rents of residential units in Dubai have risen to the highest level ever in 2022."
image
Ahmed Al Suwaidi, General Manager of Residential Communities at Dubai Holding Asset Management, said: "The real estate sector in Dubai has great potential thanks to the firm foundations that have contributed to the establishment of policies and initiatives launched by our wise leadership in the UAE over the past years, and the real estate sector has emerged as one of the important tributaries of the emirate's economy, and the Dubai government's plans for the real estate sector have provided all procedures and initiatives, which contributed to the sector's achievement of record levels in terms of local and foreign investments and real estate sales, which put Dubai in Leadership regionally and globally."
Al Suwaidi said in statements to Emirates Today that Dubai's real estate strength has emerged over the past years to be the best destinations for global investors looking for a safe haven for health and investment, as well as through the strength of real estate developers, and attracting many nationalities to trade real estate within Dubai, with expectations that the real estate sector in Dubai will continue to record its historical levels in the coming years.
Al Suwaidi continued: "Rents for residential units in Dubai have risen to an all-time high in 2022. During this period, average apartment rents increased by 27.1%, with average villa rents increasing by 24.9%. Demand has also increased significantly with the number of registered leases increasing by 10.8% year-on-year according to CBRE's expectations for the UAE real estate market."
Al Suwaidi added that a comprehensive understanding of the requirements of the real estate market is one of the most important skills needed, and this requires a detailed study of the dynamics of supply and demand in the market, in addition to understanding the demography and following up on the main economic indicators that may affect the direction of real estate in general in Dubai.
He explained that the continuity of work to enhance and develop the real estate portfolio requires continuous analysis of the real estate market in general and the portfolio in particular to identify development opportunities, reduce expenses and double profits, in addition to applying innovative technological solutions to enhance the efficiency and effectiveness of the real estate portfolio.
Al Suwaidi stressed that capital planning is essential for the development of residential complexes, as the development of a long-term capital plan leads to periodic updates and improvements to service facilities and residential complexes according to a specific schedule, which enhances the quality of life of residents and attracts more tenants.
For example, real estate leasing institutions such as Dubai Holding Asset Management usually have a team of specialists responsible for the management and maintenance of residential complexes, which ensures a smooth customer experience and a higher level of quality and service compared to leasing from individuals, and is characterized by following standard policies and procedures to ensure a uniform level of service across the various properties within the portfolio, including lease agreements and payment. Rent, maintenance and relocation requests, etc., Moreover, Dubai Holding Asset Management is constantly working to find technological solutions that enhance the housing and living experience, such as the "DubaiAM" application, where the application provides tenants with some services, such as paying rent, maintenance requests and communicating with the management of residential complexes, and residential complexes are characterized by providing playgrounds for children, gyms, swimming pools, petting zoos, sports fields and others.
This is in addition to offering various distinctive activities and events throughout the year, which aim to provide an exceptional and enjoyable living experience for tenants.
He pointed out that the company manages the largest portfolio of integrated residential complexes designed to meet the different lifestyles of individuals or families, and the success of the real estate leasing model is based on developing a comprehensive approach based mainly on understanding the various aspects of the real estate market in Dubai and adopting an innovative long-term vision, aimed at strengthening the real estate portfolio, and helping to make the right decisions to ensure sustainable success.
Al Suwaidi explained that Dubai Asset Management includes 15 residential complexes, which are among the largest portfolios of residential complexes in Dubai, which contributed to consolidating the city's reputation as one of the most vibrant cities in the world, and these residential complexes constitute one of the best places to live in Dubai thanks to the presence of many retail centers, and provide security and maintenance around the clock, seven days a week, as well as the presence of a specialized team to manage the complexes.
"Dubai Holding Asset Management's residential leasing portfolio has seen a new rise in demand for corporate housing services, which include employee and worker accommodation solutions in various sectors, and this rise has affected vital sectors, such as education, tourism, hospitality, aviation and catering, thanks to the emirate's continued launch of pioneering economic initiatives, and improvements in visa and investment policies have also played a prominent role in stimulating growth within these sectors and attracting more talent and specialized skills.