Expo is far away – Dubai has been promised to be one of the most important events in the modern history. Mail with the opening of boundaries and a serious global paint-up demand, we expect that the event will be even more important in 2020.
Since the beginning of the year, Frank Porter has seen a constant increase in inquiry from investors and is looking to buy his properties and short-lying for the expo. Question always ‘Where should I buy?’.
With so many good opportunities in the market, the investor is not hungry for choice. Many developer deals are running, friendly mortgage rates, and flexible vendors. Although it is more complex to discuss the long-term viability of any real estate deal – which we know is short-term rental overtaking and tourism trends.
When it comes to short-term markets, the location is everything. But what is this? Dubai’s main tourist staples live in Dubai Marina, Dubai and palm Jumerah city. These are classic tourist sites where development has not yet been closed.
However, the investors are no longer limited to these areas because Dubai grows. There are options in the locations near Business Bay, Jumeirah Village Circle (JVC), Sports City, Barsha South and Expo-Dubai South. Going through a development process with all malls, metro links, offices and new residential buildings – Dubai expands in a real multi-region city. After all, everyone can not buy 2Br on the palm with the use of beach or rent.
Kovid has played a role in this trend. With more people trapped inside 2020, it became less important to which area you are living – until you got your place and your high speed wifi. Now we will be looking at it with tourists coming from Dubai, where they will stay in a property for a long time, so it should be bigger and more economical with good features. JVC is showing too much promise here. All tourists have many new buildings with big facilities and new malls for immediate needs. We are looking at high occupancy here and will remain for a long time. This trend will increase because the area develops.
When it comes to Dubai’s main tourist destinations, it is a very safe condition. We know that to some extent Dubai Marina (as we know), for example, will stop development. If you are now able to buy a property, within the walking distance to the beach, restaurant and bonus ocean view, your acquisition will be above 85 percent annually behind the expo.
There is not a big difference between the ‘premium’ value of the building too for the short-term market. Of course the features should be well, but tourists do not know the difference between ‘premium’ building and ‘normal’ building. In some cases, what are the interior designs shown in photos, good features, ideas and distance (beach, turret Khalifa, Dubai Mall, Atlantis, Fountains, etc.) There are no facilities even when you can any Dubai Buy a day’s beach / pool pass in the hotel easily.
Expo site and the surrounding area is also very interesting at this time. This area is being made rapidly with metro links, new roads, a new airport and new buildings coming at a quick speed. We are already looking at Guests living in our properties in Jabel Ali and Dubai South.
While occupation in these areas is still low, but it will grow dramatically during the expo and post expo, because the area itself comes. After all, these events are not being made for the expo. With the launch of the new airport, we expect dramatic growth in tourism in these areas. Dubai South, for example, may be a great investment opportunity beyond the expo.
What I like in the market is currently, and when we launch Frank Porter in 2017, there was no increase in options. An investor can return great in more areas. Dubai is developing in a real metropolis with various areas and activities for all interests or budgets. If you want luxury, then you have it. But if you want something else economical, you can also get it. This increase in choice allows new investors to return to the market and use the short-term model to make great returns on their investment, because the actual tourist demand in these areas is never before.
We are very positive about Dubai’s short-late market and Dubai. I think there are still many rooms for development, and it will be interesting to see development in the coming years.
