Dubai 2.0 again!
Off-plan sales played a huge roleto a whopping Dh258 billion in 2017, a 10 per cent increase from the previous year in pushing Dubai’s overall property transactions. The market is starting to change as the middle of 2018 is approaching because of the launch of several new off-plan projects.
In the real estate sector, Dubai has been a promise of new master planned communities. It’s expanding across the desert and bringing to new contemporary luxury homes.
Off-plan has been dominating the real estate market in Dubai for a while, in large part due to the lack of existing stock that had sufficient quality and substance to it. Home buyers and investors waited a few years for the new projects to deliver rather than choosing from the ready options. But now the trend is observed to change and has started to shift. People are inclined to pick up one of homes on the secondary (already available) market than to wait couple of years for the next big project to be developed and ready. This is certainly Dubai 2.0!