There has been a noticeable shift in the profile of visitors to the recently concluded real estate event Cityscape in Dubai, with a marked increase in investors enquiring about property as an investment, said an industry expert.

“This year we are seeing more investors and end-users investing in Dubai properties as a means of guaranteeing return on the capital invested - this is what differentiates the Dubai market from European markets,” added Talal Al Gaddah, CEO, MAG Property Development.

The company, which is the real estate development arm of MAG Group – one of the region’s largest multi-sector corporations – says that investor interest from outside of Dubai was particularly noticeable, with its client profile now comprising visitors and tourists keen to generate returns on a financial outlay in the city’s booming property market.

MAG Property Development revealed that most of the investors and clients visiting its stand were from the Middle East (44 per cent), with European customers comprising the next largest segment (16 per cent), followed by visitors from India (10 per cent), while Asia and Russia tied at fourth place (8 per cent for each) and finally Africa (7 per cent) and America (3 per cent).

The types of property that most investors have expressed an interest in have been mostly ‘holiday homes’, i.e. furnished studios and one and two-bedroom apartments, with location criteria including prime spots, ready roads, completed infrastructure and booming areas that are already in high demand.

These stipulations have seen the company receive a high degree of interest from visitors for their Polo Residences launched in 2013, with 90 per cent of units now sold out.

According to MAG Property Development, a growing area of interest for investors is with green buildings. The organisation has addressed this demand for being environmentally friendly with two of its new developments, MAG 1978 and MAG Luxury, located in Business Bay and Burj Khalifa District respectively.

The projects have been developed in conjunction with Chicago-based Skidmore, Owings & Merrill  - one of the world’s largest and most influential architecture and interior design consultancies.

“Our collaboration with SOM forms part of MAG Property Development’s policy of taking Dubai’s property market to the next level. Their expertise in architecture and design has been instrumental in the launch of MAG 1978 and MAG Luxury, which will be launched later this year,” said Al Gaddah.

“MAG Property Development is spearheading MAG Group’s ambition to be at the forefront of the region’s real estate industry. It is achieving this through ensuring that its developments offer the latest innovations and match the emirate’s vision of building a community that is sustainable and environmentally-friendly,” he added. – TradeArabia News Service