Residential property investment proves a hit as Next Move Live wraps up
The first edition of Next Move live concludes at the Madinat Arena, Madinat Jumeirah, bringing an end to three successful days of new property launches, unbeatable promotions and exclusive investment opportunities.
The UAE’s new consumer property show, which opened on Thursday, 20 February, attracted thousands of prospective buyers and renters over the weekend seeking the hottest developments in the local and international real estate market.
Michael Bono, a 37 year old Australian, Dubai resident visited the three-day show to seek advice from leading property developers, real estate agents and banks.”I am a firm believer that a residential investment is the best option in Dubai at the moment,” said Bono.
“I already have my own place and I’m at Next Move live to see if there is anything new in the market and if it’s worth selling my property and investing in something else.”
“As a resident in Dubai, it makes sense to buy your own place and pay a mortgage, rather than losing money on rent each month. You can make your property work for you through capital appreciation and then when the time comes to move on, you can sell and make a profit.”
Brought to Dubai by the organisers of Cityscape, Next Move live offered visitors more than 4,000 units from the UAE, UK, Spain, Cyprus, USA and many more.
Several major UAE based developers showcased their key developments,including the Ras Al Khaimah-based RAK properties, who displayed their new sea view development ‘Flamingo Villas’.
Rashed Sultan Al Khatri, Director of Marketing and Sales at RAK Properties, said: “We are offering convenient payment packages to our customers to boost their investment revenues and anticipate a significant increase in unit sales in the coming period.”
“Our main focus is to promote completed projects at Next Move live and display our residential developments which represent a new milestone in the company’s history and will be completely self-contained, creating their own identity.”
With property prices in high-value areas such as Palm Jumeirah, Business Bay and Jumeirah Lake Towers showing the biggest increases by the end of 2013, developers are shifting their focus to areas such as Dubailand, Motor City and International City which offer consumers an affordable alternative.
“The basic rule of real estate is “location, location, location,” said Wouter Molman, Director of Cityscape Group. “In other words, investors need to know where they are buying. Finished communities in convenient locations with the right amenities, schools and community centres are always highly sought after, even when markets aren’t in the strong position that they are today.
“The predominant trend in the last three days at Next Move live has further verified this, as exhibiting developers and brokers put a huge emphasis on the mixed-use element of their properties as part of their business strategy.”
Next Move live is officially supported by Platinum Sponsors Aldar Properties and Flash Properties, Gold Sponsor Orient Desert Real Estate and Silver Sponsor Pacific Ventures. Commercial Bank of Dubai is the Official Banking Sponsor of the show.