GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

Al Msaddi says unique Dubai project highlights need for developers, investors to focus on supply and demand factor

Dubai, UAE, 8 August 2017:  One of Dubai's largest real estate brokerages, fäm Properties, has topped AED1.3 billion in residential property sales at City Walk, the new destination developed and managed by Meraas in the heart of Jumeirah.

Firas Al Msaddi, the fäm Properties CEO, said today that the bulk of sales were to first-time buyers of buildings, while just over AED325 million worth of sales were in the secondary market.

He believes the volume of sales delivers a strong message to both developers and investors about the importance of understanding, and capitalising on, the dynamics of supply and demand in the Dubai property market. 

“It shows how important it is that developers study the current type and volume of property supply as well as demand in today's market,” he said. “This will allow them to create an exclusive product with unique specifications and features that fashion a new type of living experience, rather than duplicate something already in good supply.

“At the same time, there's a lesson here for investors about picking developments and properties that deliver new and more attractive lifestyle offerings to continuously attract end-users”.

City Walk is the only freehold, modern, low rise development in Jumeirah with exclusive retail and entertainment components. The five-and six-storey pavilion-style City Walk Residences are complemented by many first-time shopping, entertainment, hospitality and wellness options.

The project will house signature hotels, more than 300 retail brands and a High Street Boulevard featuring boutiques, galleries, restaurants & cafés. 

Said Msaddi: “We were the first real estate company to start promoting City Walk to investors after Meraas launched sales, and we have channelled a great deal of capital investment under our control into the project because of its unique appeal.”

Now targeting AED1.5bn in overall sales at City Walk by end of Q3 2017, fäm Properties is using an 18-strong team of real estate advisors for all property management, leasing and sales requirements on site, while its engineering team is handling handover and snagging. 

Special attractions at City Walk include the 20,000 capacity Dubai Arena and the Green Planet Bio-dome which recreates a tropical forest with 3,000 plants and animals.



Posted by : GoDubai Editorial Team
Viewed 10291 times
Posted on : Tuesday, August 8, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Real estate transactions in Dubai exceeded AED 390 billion in 18 months
Next Story : DAMAC Properties Awards AED 628 Million Contract to Arabtec Construction for AKOYA Oxygen Developmen...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Introducing Burberry Bespoke Fragrances
Making many tones from one
Celebrate the Month of Love with a Brighter Smile at The Smile Bar
Persil Appoints Nancy Ajram as the new Regional Brand Ambassador
A Chaumet Valentine's Day Sentimental jewellery
Tissot PRS 516 Alpine Limited Edition A sporting tribute
Malabar Gold & Diamonds opens a new showroom in Millennium Dubai Airport Hotel t...
The Preston watch collection by Coach
Nissan Energy demonstration hits the spot
Jewellery shoppers to keep winning big this Dubai Shopping Festival
Sawalef Perfumes unveils product range of delicate scents in 2019
Turkish Airlines reached the 80.2% Load Factor in December 2018.
Tag Heuer Demonstrates Watchmaking Mastery With Its New Carrera Calibre Heuer 02...
Beef Sushi- Love at first bite
Global Village presents Scheherazade, a timeless tale of intrigue and adventure
HUGO BOSS watches Legacy Casual Family collection
Walid Atallah's “Dream Dress”: The new revolution in the World of Fashion 2019
Eberhard & Co. Gilda makes an extraordinary Valentine's Day gift
Scuderia Ferrari presents PILOTA Family Collection
Spring/Summer ‘19 Collection IL Gufo Underwater
Bollywood Actor Anil Kapoor to inaugurate 2 new outlets of Malabar Gold & Diamon...
Luxury jewelry house Dhamani 1969 launches exclusive CHRYSALIS collection
MALABAR GOLD - DSF Winner Photo for Release - Anandan Ganesh
Third Edition of Al Shira'aa International Horse Show Concludes with Thrilling Finale
Bollywood Actor Anil Kapoor inaugurated 2 new outlets of Malabar Gold & Diamonds...
Dubai-based sports star Sarra Lajnef gets Women Leadership Award
Nicole Kidman at the Golden Globe Awards
Joyalukkas Shopper wins BMW Car in DSF Mega Promotion
Airbus boosts Intersec 2019 with Progressive Comms Technology
Al Mouj Muscat pays tribute to Oman with Layers of Oman Exhibition
The Kingdom of Saudi Arabia's Minister of Energy, Industry, and Mineral Resource...
Honor 10 Lite Packs Stylish Looks and Flagship Performances Into New Device
Dawoodi Bohra Trade Expo begins at Expo Centre Sharjah
The Graham Chronofighter Vintage UK Ltd takes unity into its own hands
Opening Ceremony of Azerbaijan House in the United Arab Emirates
Audi turns the car into a virtual reality experience platform at CES
Citi UAE opens Citigold lounge in Abu Dhabi.
LACOSTE presents Key West (Sport Inspired) collection
The UAE-Kosovo Economic Forum launches a new phase of economic partnerships
2020 Cadillac XT6 Makes Global Debut
Land-ho! The Pirates have Docked at Dubai Festival City Mall with the launch of ...
Central Bank of the UAE Holds its 1st Board of Directors Meeting for 2019
The 2019 OMEGA Dubai Desert Classic welcomes the world's best players
The Region's Most Anticipated Shopping Festival Is Back at Burjuman
IPAF hosts 10th UAE Nadwa
Implementation Date Announced for Long-Term Residence Permits
UAE residents go on a two-week Camel Trek across the UAE desert
Sultan Awards Oil & Gas Exploration Concession to Italy's Eni
fischer's Annual Media Meet 2019
Endoscopic thyroidectomy seen as minimally invasive and less complicated treatme...