Cityscape Global 2017 wraps up on strong note
DUBAI: Cityscape Global exhibition concluded on a strong note in Dubai on Wednesday. Billions of dirhams worth of property development in the City of Wonders were showcased at the region’s leading property show. The exhibitors have expressed their optimism about this year’s event despite global trends.
Matured real estate market requires matured thinking from property developers. Gone are the days when buyers used to take whatever used to be thrown at them by developers, when the market was a sellers’ one.
With Dubai’s real estate market maturing further, developers are extending their payment plans to attract property buyers as it has turned into a buyer’s market.
Gemini Property Developers, a boutique real estate developer, which recently launched a game-changing industry-first customised payment plan for residential units in the Dhs280 million Splendor at MBR City that offers a wider choice for property buyers allowing them to pay for five years after hand-over – has received overwhelming response from the property buyers at the Cityscape Global exhibition that concluded on Wednesday.
Under the innovative set of payment schemes, property buyers have the options to choose from an extended payment plan after paying 50 per cent upon handover and the balance payment on easy instalments at their convenience, choice and freedom. This will encourage and help the fixed-income end-users to enter into their dream freehold homes and pay at their ease without undertaking the bank finance cost.
“However, the key is to offer the freedom to choose how and they want to pay as it has now become a buyer’s market. Dubai’s real estate market needs out-of-the-box thinking by all stakeholders,” Sudhakar R. Rao, Managing Director of Gemini Property Developers, says. “That’s why we have devised a game-changing industry-first payment scheme that is designed to offer the best comfort level to our property buyers. This has received a strong response that is also resulting in transactions.
“The new payment plan in reality removes the burden of payment under stress and allows them to pay as per their convenience and thus eases the pressure on the property buyer.
“The aim is to reduce the pains of the customers and make sure they remain happy throughout the acquisition phase, while as a developer, we share the burden of the customer’s payment. We want to give them the freedom to pay at their ease, choice and convenience.
“Once the buyer moves in to Splendor at MBR City upon paying 50 per cent, it frees up the rents – that could be converted into monthly instalments for five years – or as low as 0.83 per cent per month that could be paid in quarterly instalments – and property buyers can enjoy the benefits of living in their own freehold homes at Sobha Hartland within the Mohammed Bin Rashid City (MBR City) and its central location within the city of Dubai.”
Splendor at MBR City is a stylish, synchronised and elegantly designed collection of 134 modern homes for the upwardly mobile families, who prefer to live at the heart of the city – yet within a sanctuary. Disconnect from the frantic, bustling city life while staying completely interconnected within one’s serene abode. Splendor takes the convenience of modern technology to a new level with its fully automated smart homes fitted into all the units within the building.
“As a customer-centric developer, we are always on the lookout for customer happiness and convenience – quality of finishing, timely delivery as well as ease in handover process. Customised payment plan is an extension of our customer-centric approach in which, we are absorbing the risks of an extended payment plan by offering the customers the convenience and freeing them up having to seek bank finance that comes with high cost,” Sudhakar Rao adds.
“We believe, buying a property is a major decision in one’s life and involves significant investment. For most families, buying a home is the biggest investment and that’s why it needs to fit in to the lifestyle, convenience, and finances of the modern families.
The move is aimed at encouraging more people to shift from rental homes to their own home without undergoing the pains of having to pay for both rents and property instalments for off-plan properties.
Prabhakar R. Rao, Joint Managing Director of Gemini Property Developers, says, “Usually, the customer has to comply with the payment plan designed by the developer and has to align his/her finances according to the developer’s plan. Also, some developers are offering post-handover payment plan which is a popular thing, whereas some customer may not want to go for it since he/she can avail bank mortgage. Gemini for the first time is offering the customer, the freedom to customise his/her payment plan according his/her financial situation.
Sailesh Jatania, Chief Executive Officer of Gemini Property Developers, said the new payment scheme comes just in time as Dubai’s real estate market is witnessing signs of upturn.
“The new customised payment plan comes at a time when new investment is pushing sales in Dubai’s property market so much so that it has witnessed Dhs132 billion worth of transactions in the first six months of 2017, about 16.8 per cent higher than the performance in the corresponding period last year. We believe this is the right time to stretch our hands to the end-users.
“The customer can choose from customised payment plan for his apartment as per his convenience from a host of options made available by Gemini. Firstly, the customer can choose whether he/she wants a post-handover payment plan or not because we don’t want to push the post-handover plan if the customer does not want the same or he/she has mortgage loan available.
“Secondly, he/she can choose how much percentage is desired to be paid post-handover (40% or 50%) and in how many years he/she wants to pay this (2, 3 or 5 years). As a developer, we not only offer excellent quality homes, but also take care of the financial needs of the customer in best possible manner.”
More than a dozen Pakistani companies to offer a wide spectrum of real estate opportunities in all over the country are participating in the 16th edition of the Cityscape Global being held in Dubai World Trade Centre.
The 3-day event showcasing all kind of real estate projects in and outside the UAE by over 300 top companies with wide range of price range.
Talking to The Gulf Today, representatives of Pakistani real estate expressed that the Dubai has been one of the major platform to offer local projects with the aim of targeting overseas Pakistani especially based in UAE and have effective share in local real estate scene to invest billions of dirhams.
“With a wide range of projects from commercial to residential based in Karachi, we are here for the first time to provide first hand information to our community members based in the UAE especially in Dubai as there are many forums spreading negative news,” said Kamran Shah, marketing manager, Front Line. There are number of residential projects underway in different parts of the city (Karachi) as in the past 5 years the value has been surged many folds, he told.
Many participants at the Pakistan Pavilion of Cityscape Global are first timer but had been represented their projects in various international real estate exhibitions and expecting more buyers as a huge number of overseas Pakistanis are investing in these projects already which has became safe and lucrative opportunities for their capital.
“There is a huge property demand in the local community especially desire to invest in major cities for the safe return of their investment. We have noticed that the major projects in Karachi have around 30 per cent share of overseas Pakistani based in over the world and cater to this huge need we are reaching our community at their doorstep to offer information to cover every aspect,” he said.
Munawar Butt of Kaizen Consulting & Services offering Askari and Dawood Homes, corporate and residential projects in Lahore told that the response from the community was positive as majority was serious buyers to know about safe and sound investment opportunities back home.
“We are here to promote our brand and sell the ongoing projects to offer right price which has been drawing a positive response from the different segments of the Pakistani community,” he said.
Ejaz Mehmood Khan of Al Jalil Garden Lahore pointed that the price of residential and commercial plots are being offering at the Cityscape platform as many buyers are also showing interest in such opportunities.
Arsalan Asif Khan from Twincity Marketing pointed that the projects based in Islamabad, plots and townhouses, have been drawing attention as these are being underway according the bylaws of capital development authority. “Phase one of D-17 has been sold out and now work is in full swing on Phase II which we are presenting to the overseas community to grab the opportunity,” he said.
Haseeb Nasir, Director Fast Marketing mentioned that they are presenting different kind of real estate projects from residential to commercial located in all over the country including in the major cities like Lahore, Sialkot, Multan, Gujranwala, Faisalabad, Islamabad and others. We are participating twice in UAE to present our wide range of projects to the huge Pakistani community in the country besides attending other real estate expos in different Gulf countries where the community is present,” he said.
He mentioned that the attending of international events in the Middle East is more than selling the projects but focus is on branding and presenting the massive satisfaction of our overseas customers towards on various ventures especially in which they are already investing. “We are as well as other developers and marketers in Cityscape have been receiving huge response from different segments of the Pakistani community as many are interesting to buy in our projects with the aim of lucrative investment,” he said.
dubizzle Property – the biggest property platform in the UAE revealed industry insights into the UAE’s real estate market during this year’s Cityscape Global 2017.
The report also shed light on the top 5 property for sale communities in Dubai, and the Sale price per sq ft in certain communities in 2017, as well as touch on the mid-market property segment and the trend in mortgage purchases.
dubizzle also unveiled their all-new user interface, rolling out with the property section first. With a vast increase in search speed with the ability to insert multiple keywords and save criteria, dubizzle aims to make the process easy, quick and efficient for property seekers.
Ann Boothello, Senior Product Marketing Manager of Property presented an exclusive talk on cracking the code to successful real estate marketing on day one.
MAG Property Development (MAG PD), the real estate development arm of MAG Group, has announced the launch of its flagship AED 4 billion MAG EYE project for customers looking for exceptional investment opportunities at Cityscape Global. The leading real estate event is currently being held at the Dubai World Trade Center (DWTC) and runs from 11th to 13th September.
MAG EYE is one of the exclusive communities being developed in the heart of Mohammed bin Rashid City in Meydan Dubai, and is situated close to the Meydan Racecourse and many of the city’s most important landmarks including the Burj Khalifa, Dubai Mall and Downtown Dubai. Residents will also benefit from easy access to the city via the major Al Khail and Mohammed bin Zayed roads.
MAG EYE will offer a wide range of residential options including various apartments and townhouse units. As well as featuring a calm and relaxing environment, all units will have a view of the city’s impressive skyline and private green spaces, while outdoor gardens embrace the project’s buildings to form an oasis of tranquility.
Talal Moafaq Al Gaddah, Chief Executive Officer of MAG PD, commented: “At our MAG EYE project, we are presenting an exclusive definition of family housing by providing residents with the highest levels of privacy, comfort, and residential living at a strategic location in the heart of Dubai.”