Tag Archives: Al Furjan

Top 10 insights on why it is important to buy a home in Dubai?

By Anitha Lakshminarayanan

Why should you buy a home in Dubai, and before I begin to elucidate the top insights about the market, it reminds me of a small story, Last week my friend Sheba and I were sitting on my balcony and chatting. Sheba was winding up and going back to India and she felt that she could’ve bought a home here that could give her rental returns even if she got back to her heritage, and wanted to live there. Sheba’s story stimulated me too and I was wondering whether to buy a home in Dubai and here a few facts to ponder over:

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It’s a buyer’s market

  • Although it’s a buyer’s market right now, the rental market is very competitive. In spite of the fact that it is saturated with supply and new projects to be handed over. The current regulations help in controlling the supply further.
  • Most of the realtors feel that it is encouraging to see heavy transactions in Q4 2017 and that is a good sign so far.
  • For that matter, any property investment is long term and if you wait for a long-term, you are definitely going to yield returns and the best returns are in Dubai Silicon Oasis, Dubai International City, Dubai Sports City, Dubai Investment Park and Al Furjan

Renter’s market

  • Since it’s a renters market, it is also ideal to invest in prime locations now such as Jumeirah Lake Towers, Dubai Marina, and Jumeirah Beach Residence

 Dubai land prices up by 2.7 %

  • The prices are reasonable, especially in Dubai land where the apartment prices are actually up by 2.7 % from a year ago, In addition to Dubailand, Dubai Sports city continues to do well too as several projects are getting completed there.

So Dubai market is all about yield and capital returns whereas in other markets, Hong Kong, London, New York, it’s all about capital appreciation. If you look at net yields in Dubai, you can get 5-10%, implying a payback period of 10-20 years.

If you would like to place banner ads on this blog, PR copywriting for your real estate business or blog posts and articles and copywriting help such as direct mail, Radio Ads, then please contact Anitha Lakshminarayanan a freelance journalist cum writer at 050-1845628 or 050-4627856

 

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Sooma delivers Al Fouad in Al Furjan

cropped-255-e1411031451419.jpgReady apartment building Al Fouad, located in Dubai’s Al Furjan community, offers unique urban living experience with family-friendly amenities

Sooma Real Estate Developer LLC, a Dubai-based real estate company, announced the completion of Al Fouad, one of the first ready residential buildings located in Al Furjan, a 560-hectare master development from Nakheel. The developer’s focus was to ensure timely delivery of Al Fouad along with the display of high-quality fixtures and finishes of their flagship project. The official public launch took place earlier this month and so far, 51 percent of the apartments are sold out. Attractively priced and strategically located between Sheikh Zayed Road and Sheikh Mohammed Bin Zayed Road, adjacent to the Discovery Gardens community, the property houses studios, one, two and three bedroom units.

Fueled by the growth in the economy, combined with the emergence of more affordable housing options, the UAE’s property market is starting to gain momentum once again, with a focus on community-based living spaces. According to the Dubai Land Department (DLD) 69,000 real estate transactions in Dubai accounted for approximately AED 285 billion transaction value.

The completed and ready to move in Al Fouad development houses 105 apartments all with DEWA connection in place. The building boasts two retail units on the ground floor, a rooftop swimming pool and gym, and underground/over ground shaded parking. Buyers are given a choice of closed or open kitchens, and all apartments come with balconies offering villa community and Dubai Marina views. Prices start from AED 850 per sqft and the Dubai Islamic Bank is providing mortgages to buyers.

Omar Hafez, CEO of Sooma Real Estate Developer LLC, said: “The completion of our first residential project in one of ‘New Dubai’ popular locations address the emirate’s rising demand for family-friendly and affordable communities. With forecasts hinting at a rise in the number of first-time home owners in Al Furjan, thanks to enticing returns, attractive prices, post-completion payment plans, and proximity to the upcoming Dubai Metro station, we aim to set a new standard of living with our unique development. As a ready property, Al Fouad apartments bring investors immediate returns.”

Engel & Völkers, exclusive sales partner of Sooma, have announced an attractive payment plan for the prospective buyers, which gives them a chance to pay 30 per cent of the purchase price after moving into the property. The company also provides around the clock assistance including renting the property to the right tenant. Show apartments are now ready for daily viewings.

Al Furjan, one of Nakheel’s most popular and fastest-growing communities, is currently home to more than 5,000 people–with a projected population of over 65,000 when completed. The mixed-use community blends unique urban living experiences with a wide range of amenities, including parks, landscaped walkways and kids’ play areas, schools, medical facilities, mosques and retail and community facilities. Al Furjan is home to its very own retail unit, Pavilion, with a second under construction, as well as the recently-opened Al Furjan Club, which is a new dining and leisure complex with restaurants, pool, gym and sports courts.

Al Fouad is just a 15-minute car drive away from Ibn Battuta Mall, 15 minutes away from Dubai Marina, 18 minutes from Al Maktoum International Airport and 30 minutes from Downtown Dubai. The extension of the Dubai Metro network to connect the Expo 2020 site will make Al Furjan accessible by metro, further enhancing the connectivity. Besides Al Fouad, Sooma Real Estate Development has many new projects in the pipeline in the same area.