More plot owners now opt to develop land in Dubai

The real estate sector in Dubai, currently on an upswing cycle, is showing signs of increasing maturity and sustainability with a change of investment strategy by plot owners – reflecting a broader shift away from speculation, property experts said.

In the emerging trend, as plot owners take the development route triggering a building boom, land advisory is set to boom while speculators fade, realty experts said. Highlighting this shift in market trend, Firas Al Msaddi, CEO of fäm Properties, a real estate brokerage, said in the last three years, plot prices reached optimum level, killing opportunities to buy and sell for profit in the short and medium term.

“While initial launch phase sales by speculators have fallen, there has been a significant increase in pre-handover sales within six to nine months of completion when buyers are medium to long-term investors or end-users,” said Al Msaddi. “It’s no longer a market dominated by speculators looking to buy and flip properties for quick profits.”

Source Credit: Khaleej Times
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