Dubai market recovery looking promising

 

Two of the largest developers in Dubai have reported an increase in profits, which is being taken as an encouraging sign of market recovery.

Emaar Properties has released its figures for the three months to the end of December 2016, and the Dubai firm is showing impressive profits.

https://www.buyassociation.co.uk/2017/02/03/property-boom-dubai/

The figures revealed that the Burj Khalifa developer’s profits increased by 56%, climbing to Dh1.61 billion from Dh1.03 billion during the same three-month period in 2015. According to Reuters, this Q4 rise beat estimates by Sico Bahrain of Dh1.32 billion, but missed a projection by the Egyptian investment bank EFG Hermes of Dh1.63 billion.

Emaar revealed that its 4th quarter revenue increased by 16% to Dh4.4 billion, up from Dh3.8 billion for the same period last year, with a rise in the contribution from the company’s property sector as well as those from its retail and hospitality divisions. Emaar sold Dh14.4 billion worth of real estate during the whole of 2016 – 41% more than it had sold during 2015.

Meanwhile Damac Properties, Dubai’s second-largest developer, also reported a small increase in net profit for Q4 despite encountering “challenging market conditions”.

While Emaar reported a 28% total net profit increase for 2016 at Dh5.23 billion, Damac revealed that its net profit for the year had slumped by 18.1% to Dh3.69 billion.

https://www.buyassociation.co.uk/2017/01/23/prices-set-rise-singapore/

“The Dubai real estate market in 2016 had stabilised over 2015, with no major fluctuations in prices,” explained Damac’s chairman, Hussain Sajwani.

“There is demand for quality real estate but with the challenging market conditions we are operating in, what has changed is customers are seeking better value. Our medium to long-term outlook remains positive and we are well positioned to accommodate and navigate these conditions.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Dubai market recovery looking promising

Dubai market recovery looking promising

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.