ZāZEN Properties; UAE non-oil sector expansion to prop up real estate growth

ZāZEN Properties; UAE non-oil sector expansion to prop up real estate growth

- 121 LEED-certified buildings rose up in Dubai as a byproduct of Expo 2020

- ZāZEN Gardens launches its construction phase with 25% of units sold

Dubai, UAE: ZāZEN Properties, a leading sustainable property developer in the UAE, cites that Dubai’s real estate market will maintain its strong momentum on the back of the country’s forecasted non-oil growth of nearly 4%[1]. The homegrown brand recently launched off-plan sales for its newest project, ZāZEN Gardens in Al Furjan, which is the first LEED Gold & Well-Being Integrated development in the area. 25% of the units have already been sold off-plan since the mid-December launch and construction is successfully underway, highlighting the strength of the brand and the off-plan segment in Dubai.

After seeing a 4.8% growth rate in 2022, the UAE’s non-oil sector is now projected to expand by 3.9% in 2023[2]. Although oil production is stagnating in the Middle East, proactive measures set in place by the government have equipped the UAE to sustain itself away from a petroleum-driven economy. The coming year is poised to reinforce that its efforts have been, and will continue to be fruitful.

The UAE’s Fourth Industrial Revolution Strategy was launched in 2017 to aid diversification efforts and advance