Interview of Alharith bin Salem Almoosa, Falconcity of Wonders LLC

Interview of Alharith bin Salem Almoosa, Falconcity of Wonders LLC
06/12/2016 , by , in Interview Old

Falconcity of Wonders LLC (FCW) is a privately owned company that was founded to develop Falconcity of Wonders, a real estate mega project in Dubai. Alharith bin Salem Almoosa, Vice Chairman and Deputy General Manager, Falconcity of Wonders LLC gives a poignant view of the realty market of the city.

Distinct features of Dubai Real Estate market

Dubai is a dynamic and vibrant business landscape that is highly attractive to investors. The emirate has successfully sustained its reputation as the region’s top real estate destination and developers are moving forward with their property construction plans which is why Dubai’s real estate sector willcontinue the resurgent levels of growth, stability and security it showed last year and to perform exceptionally well this 2016.

A distinct factor of Dubai realty today is the thebrisk business being spurred by the UAE’s preparations to host the 2020 World Expo. This will be the first time that the iconic global event will be held in the UAE, so it will definitely usher in a new era in Dubai real estate, boosting all segments from commercial space to leisure and residential developments.

Investors, developers and travellers continue to be drawn to Dubai’s economic vibrancy, growing multicultural population, stability and high government spending on major infrastructural works. All of these will continue to have a positive effect on tourism, hospitality and real estate as the Expo approaches.

The outlook for the real estate market in terms of sales

The strong market uptake in Dubai certainly provides a strong case for the great potential of the developments to visitors and interested investors. For instance, Falconcity has successfully handed over 500 villas in the Western Residence South and North of the project, reflecting the currently buoyant market conditions. This means that the demand is there, however, developers need to provide the right product for regional and international property investors. The real estate and property business is picking up fast given the investors’ optimistic view on the market in the coming promising years.

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