UAE Business: Industry experts discuss key property trends ahead of Cityscape – Gulf Digital News

UAE Business: Industry experts discuss key property trends ahead of Cityscape – Gulf Digital News

Property buyers in Dubai are moving towards off-plan purchases as the emirate experiences a shortage of available high-end assets, and this shift to off-plan reflects heightened market demand from a growing investor base, said an industry expert ahead of top property event Cityscape.

"We have seen increased demand for luxury villas and penthouses since 2021, with buyers expecting properties of higher quality with larger layouts," remarked PNC Menon, the founder and chairman of Sobha Realty.

"Moreover, many foreign investors have high-quality standards, making it difficult for them to acquire secondary market homes that satisfy their requirements. As a result, they are also exploring off-plan options to ensure high-quality furnishings and customised designs," he stated.

"This demand uptick has resulted in the emirate facing a shortage of ready high-end properties. Due to lack of available inventory, buyer demand is gradually being pushed towards off-plan property, which is helping to mitigate the shortage of villas," he added.  

According to Menon, the UAE-wide development trends are increasingly shifting towards sustainability focused projects.

He pointed out that investors are being attracted by Dubai’s safe destination appeal, particularly among buyers from India, Russia, China, the UK and Nigeria. 

"Every year, the mix of