Around 250 Community Villas worth $163m Sold by Nakheel in 4 Months
Rising demand for villas in Dubai.
Developer Nakheel sold around 250 villas in 4 months.
Transactions made worth $163 million in two major communities Nad Al Sheba and Al Furjan.
As per real estate experts, the demand for villas for sale in Dubai has witnessed a surge, owing to the movement restrictions and lock down triggered by COVID-19. This statement can be backed from the figures produced by master developer Nakheel. In the previous four months, the developer has sold around 250 ready-to-occupy units in top neighborhoods of the city.The value of these transactions amounted to 163.3 million (AED 600 million). Prominent communities that showed healthy progress in terms of villa sales during this period were Al Furjan and Nad Al Sheba. The latter in particular was the top preference among buyers as 205 family villas were sold in this community. The first two phases of residential properties in Nad Al Sheba were sold out in June; however, the third phase has been launched recently.Known for its beautiful racecourse, the community is expected to become home to a retail and recreation center in the first quarter of 2021. This traditional residential area is already a favorite among UAE nationals. However, recent developments show that investors from other parts of the UAE are also taking interest in this neighborhood and exploring investment opportunities here.Some investors prefer this community for the amenities available, quality of units, and its prime location. As it is located in close proximity to Sheikh Mohammed Bin Zayed Road, commuting is not a problem for residents. Prominent areas and landmarks of the city are also situated nearby. Thus, making it a well-connected community. On the other hand, some selected this area as they wanted to enjoy the traditional city lifestyle with modern facilities.Nad Al Sheba has a peaceful setting and a pleasant ambiance. This is another feature that draws buyers to this neighborhood. It allows them to find a home in a calming space, away from the hustling bustling city life while they can still enjoy all modern facilities.For some people, it is the Mediterranean and Moroccan styled-units developed by Nakheel that grabs the buyers’ interest. Villas in this community are spacious. They come with maids’ quarters that have a separate entrance. All bedrooms in these units have en-suite bathrooms. Moreover, each villa has a double garage and a spacious garden.As per the developer, units in phase three are being sold on a daily basis. They are also planning to release more units in this year itself.Occupying the second spot in terms of ready to move villa sales in Dubai real estatemarket is Al Furjan. It is ranked among the fastest-growing residential communities in Dubai. Having its own retail pavilion, leisure club, and a community sports club, this neighborhood enjoys great popularity among buyers and investors. It showed sales transactions of 36 villas since March. Only a few units in the recently culminated phase are left to be sold. 3 and 4-bedroom units at Al Furjan come with extensive indoor and outdoor space along with state of the art appliances, and spacious terraces. Moreover, they also feature a double garage, maid’s room, and a garden.These ready-to-move-in units developed by Nakheel are available for everyone. Prices start from AED 2.8 million. There will be no service charges for the first 3 years of purchase. Buyers can also enjoy free membership at Al Furjan club for one year. Convenient payment plans are available for interested parties.CCO of Nakheel, Mr Aqil Kazim, believes that these positive figures clearly depict the fact that buyers are willing to spend their money provided that there are ready to occupy, quality units available in the market. Investors too have shown their keenness to add more properties to their portfolio. This is due to the fact that current conditions are favorable for them since sellers are more flexible in their approach. Mr Kazim also stated that they are catering to an increased number of first time buyers in Dubai. In addition to that, they have also experienced a growing number of female investors as well.He is of the view that the motivating sales activity and figures obtained by the developer despite challenges imposed by the global pandemic show that the customers (buyers and investors) still trust the Nakheel brand and the Dubai property market.
Dubai Residential Market Expected to See an Increase in Prices