Dubai is one of the three best cities for real estate along with Miami and Singapore

Dubai, UAE: ZāZEN Properties, a homegrown sustainable property developer in the UAE, cites that Dubai’s real estate market is fairly valued despite an ongoing surge in demand for both renting and buying. Prices in the emirate have been soaring since 2021 with the cosmopolitan city recording annualized real price growth of 14.6% and annualized rental price growth of 20.3% from mid-2022 to mid-2023; rates that are among the highest worldwide.

Dubai’s real estate sector has maintained its momentum with Q3 results reinforcing this notion. The Dubai Land Department (DLD) reported 31,216 transactions from July to October, comprising 23,042 units, 3,158 buildings, and 5,016 plots. These figures convincingly exceed the 25,503 sales that were registered during the same period in 2022 to reflect 22% Year-over-Year (YoY) growth.

When comparing the AED 97.5 billion in value of sales transactions that were logged this past quarter to the AED 69.5 billion during the same time last year, a growth of 40% was realized. Furthermore, Dubai witnessed transactional growth of 6% when comparing Q3 of 2023 to Q2 this year. Madhav Dhar, ZāZEN Properties’ COO and founding member, attributed Dubai’s upward real estate trajectory to several factors including the cosmopolitan city’s ever-solidifying reputation as a geopolitical safe haven that is attracting overseas investments and increased emphasis on sustainable developments in the emirate.

Madhav Dhar said: “With the emirate ranked as a top 10 city to live in, migration from overseas is an ongoing trend. Dubai's projected population growth of 5.8 million by 2040, combined with streamlined visa regulations, a favorable business environment, and a secure, luxurious lifestyle, are all factors driving international interest in the region and contributing to the growth in the real estate market. As the UAE leads in sustainable development and establishes itself as a distinct global entity, the emirate's real estate market is poised for further growth. This is why Dubai is a prime destination for real estate, particularly its current and anticipated fair market value and, compared to other real estate markets, it has the second lowest bubble risk in the world.” 

While Dubai aims to transform its real estate landscape and usher in a new era of sustainability, ZāZEN Properties is playing a key role in future-proofing the economy. The homegrown brand’s latest development, ZāZEN Gardens in Al Furjan, will become the first LEED Gold-certified and Well-Being integrated residential development in April 2024. Annually, it will reduce 469 metric tonnes of carbon emissions and generate close to 390,000 kWh of onsite solar electricity, which is about 30% of the common area requirement yearly. ZāZEN Properties is committed to continuing to add to the sustainable landscape of Dubai, providing a better future for the UAE and its residents.

About Madhav Dhar:
Madhav Dhar is a data-driven business management professional who has led a versatile and high-achieving career that spans fifteen-plus years across several industries. Highly knowledgeable about managing and executing business operations, as well as marketing strategies to positively contribute to bottom-line growth, Madhav co-founded ZāZEN Properties to create healthier living environments by developing high-quality sustainable real estate projects in Dubai. He has since spearheaded the launch of two successful sustainable residential projects (ZāZEN One and ZāZEN Gardens), with his efforts garnering him recognition in Construction Week’s Power 100 as one of the top 100 most influential faces and top 25 developers of Middle East construction in 2023.

About ZāZEN Properties:
Launched in 2018, ZāZEN Properties is building unique sustainable residential developments in established communities of Dubai, catering to the mid-market segment consumer and providing a ‘community within a building.’

ZāZEN Properties’ flagship development, ZāZEN One, located in JVT, was delivered in January 2022 and has been repeatedly nominated for its design and sustainability efforts, recently receiving the Sustainable Real Estate Project of the Year Award at the 2022 Sustainability Innovation Awards and the Best Residential Development Award at the International Property Awards 2022 held in the UK. As a result, units at ZāZEN One sold out within 6 months with residents occupying and enjoying the vast number of amenities.

ZāZEN Properties continues to push the boundaries between design, sustainability, affordability, and community living, with the ultimate goal of helping people in Dubai live better. Construction for the sustainable developer’s newest project is underway; off-plan sales for ZāZEN Gardens are nearly complete. A show unit and sales centre are available for viewing at the project site.

For all media inquiries contact:
Aaron Illathu | Alina Zuberi | Dushane Solomon | Karim Geadah 
Atteline
Phone: +971 58 575 2884 | +971 55 318 7336 | +971 58 532 6136 | +971 55 630 2043
E-mail: zazen@atteline.com