In response to a surging demand for off-plan units in Dubai, Aqua Properties, a prominent UAE-based real estate firm, is set to launch two groundbreaking projects with a cumulative value of Dh3 billion within the next six months.
Pioneering Real Estate Solutions on the Horizon:
Founder of Aqua Properties, Ali Tumbi, affirmed the company’s pioneering stance in the real estate sector, currently managing three ongoing projects with two more in the pipeline.
The diverse portfolio includes upscale apartments and strategically positioned mixed-use developments, reflecting Aqua Properties’ commitment to innovative solutions.
Towering Ambitions on Sheikh Zayed Road:
Among the forthcoming ventures is a striking 50-storey-plus tower set to grace the iconic Sheikh Zayed Road.
Additionally, Aqua Properties is gearing up to construct another project on a sprawling 300,000 sqft site, marking the largest land parcel in Dubai’s vibrant Arjan area.
Tumbi revealed the company’s ambitious goal of delivering more than 500 residential and commercial units in the first quarter of 2024, underscoring Aqua Properties’ commitment to timely and substantial project delivery.
Dubai’s Robust Real Estate Dynamics:
Highlighting Dubai’s robust real estate dynamics, Tumbi emphasized the city’s distinctive market influenced by cash transactions.
He asserted Dubai’s continued status as a preferred destination for global real estate investments due to its unique market characteristics.
Citing recent data from the Dubai Land Department, Tumbi noted that Dubai witnessed a staggering 33.8% annual surge in property transactions, with values soaring by over 36.7% in the first nine months of 2023.
The total of 116,116 new property transactions amounted to approximately Dh430 billion ($117 billion), reinforcing Dubai’s attractiveness to investors.
Real Estate as the New Global Currency:
Tumbi concluded by describing this growth as a powerful message to international investors, positioning real estate as the new global currency.
He noted the increasing recognition of real estate as a secure investment to safeguard wealth, resonating with investors eager to explore opportunities in Dubai’s thriving property market.
