Dubai, UAE: As the end of an eventful first quarter swings into view, real estate investors are continuing the trend seen in 2019 and putting their trust and cash in Dubai’s re-emerging off-plan segment.
Exciting new developments are pumping life back into a still somewhat flat market, says Naval Vohra, CEO of leading luxury property firm Appello Real Estate – with less stereotypical projects holding special appeal.
In terms of market indicators, Vohra pointed to ELAN at Tilal Al Ghaf, a new residential development by Majid Al Futtaim comprised of elegant 3- and 4-bedroom townhouses; it sold out all 300 units in just a few days. Elan’s properties were sold from AED1.26 million for a three-bedroom townhouse and AED1.53 million for a four-bedroom townhouse. The development is spread over three million square metres at the junction of Hessa Street and Sheikh Zayed Bin Hamdan Al Nahyan Street.
This stylish development has a Dubai 2.0 feel about believes Vohra – hence the appeal to investors.
“The homes are striking, but the community also offers a surprising variety of lagoon water-sports such as kayaking, canoeing and stand-up paddling, as well as swimming and other water activities – and even has an outdoor cinema,” he said. “You can imagine a new, highly active generation thriving there.”
Appello Real Estate is receiving enquiries from investors for several highly attractive off-plan projects in Dubai, with a lot of interest locally and in the GCC as well as from India.
Vohra also marked Emaar Beachfront, the exclusive private island residential community in Dubai Harbour, as a hot spot.
“The area to watch there is South Beach,” said Vohra. “This is residential beach project at Emaar Beachfront with exquisite finishings offering a mix of one-, two-, and three-bedroom apartments. But what’s interesting is it will be the first to be listed under Emaar’s new Ease system – a short-term rental concept that provides global travellers stays in elegant homes handpicked by Emaar in their integrated communities.”
Vohra added: “It’s not surprising that Emaar registered 8,600 off-plan property sales overall last year, they just keep pushing the envelope and creating homes to appeal to a new, young and well-travelled demographic. This is a truly pioneering concept for Dubai that provides property management services, handling holiday homes on behalf of investors and providing high return on investment. It’s not hard to see the appeal for buyers.
“These kinds of projects are clearly really making waves. I think people can feel very confident about the Dubai market moving forward.”
About Appello Real Estate
Founded in 2008, Appello Real Estate boasts an enviable selection of high quality, luxury properties spread across Dubai. Specialists in the most desirable communities for more than a decade, its reach is expanding as the emirate itself continues to grow. Appello has on its team a highly skilled and experienced group of property consultants representing truly spectacular real estate – penthouses, apartments, villas and commercial space – across a range of exclusive projects. While new technology is certainly a valuable tool for both its agents and clients, the company knows that nothing replaces that personal touch and a real world understanding of the property market, and so the focus is on building long-term relationships. With a keen emphasis on growing organically, Appello Real Estate is evolving its services in luxury property sales and rentals, development projects, and commercial property. Its vision is to be a key player in Dubai’s next exciting chapter.
www.appello.ae
About Naval Vohra, CEO, Appello Real Estate
Naval Vohra is the CEO and founder of Appello Real Estate and works closely with investors from around the globe who wish to sell or purchase a Dubai property. Born in Delhi, after a year of working in the successful family business he travelled extensively before deciding to make his mark on the bourgeoning Dubai real estate sector, quickly establishing himself as the leading agent for the glamorous Palm Jumeirah development. Known for an entrepreneurial spirit and impeccable knowledge of the Dubai property market, Vohra’s personal sales in the last few years have exceeded US $100 million. With an encyclopaedic knowledge of the Dubai property realm, he is now one of the most sought-after luxury real estate advisors for the world’s elites and a leading commentator on the Dubai market and its future.
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