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The UAE property market remains attractive for long term investors amidst the economic slowdown.
Real estate developers are now shifting their focus towards the completion of their projects, strengthening the confidence of buyers across the globe, says Bonyan International Investment Group (Holding) LLC, one of the leading real estate companies in Dubai.
Among the top UAE real estate investors are Bahraini nationals, who have pumped over 95 million dirhams into the UAE property market in the first quarter of 2009 as reflected by recently published reports by REIDIN.com.
In line with this, the group has announced that it is looking to recruit new sales agencies to maximise the opportunity presented by this latest market development.
In addition to the completion of a wide selection of luxury and mid-priced developments, investor's confidence is also rising as a result of the government's efforts to provide unprecedented benefits to foreign buyers, such as the new multi-visit entry visa scheme, which enables property owners to enter the country and stay for up to six months.
Furthermore, the UAE Government has also taken bold steps to inject liquidity into the market, including the $20 billion stimulus package, which is expected to help the construction sector to pick up in the coming months.
"We are witnessing positive indicators that the property industry is changing for the better, indicating that the real estate sector will begin to be active and profitable," said Bonyan International CEO Faris Masoud, pictured below.
"In anticipation of this, we are intensifying our efforts to further extend our capacity to meet our customers' needs by extending our sales partner network, which will make our projects more accessible to potential customers across the GCC. We are also looking into expanding our project portfolio to provide investors with high quality projects that are ideal for long term investments."
Bonyan has developed three billion dirhams worth of residential and commercial developments in Dubai, including Rose Tower, Lulu Tower, ABBCO Tower, Dubai Gate 1, Dubai Gate 2 and Sharjah Gate Tower in Sharjah.
A recent announcement from the developer has revealed that ABBCO Tower, Dubai Gate 1 and Sharjah Gate Tower have reached a sold out status and are at the final stages of construction. In addition, the developer has also built an impressive portfolio of projects in Qatar, including The Lagoon Plaza, a 34-floor twin apartment tower, and The Palm Tower.
"We have built a strong reputation among Bahraini investors as the developer of high-quality projects, and our goal is to build further developments that can be classified as ideal long term investments by the global real estate community. In line with our aims to penetrate the rest of the GCC states, our strategy consists of hitting the delivery target we have set for our projects to impress upon our valued customers our credibility and trustworthiness as a developer," concluded Mr Masoud.
