Expert: luxury residential properties are under-supplied in Dubai

CAIRO - 18 July 2017: Real estate expert based in the United Arab Emirates deny the existence of an over-supply of residential properties in Dubai due to the recent under-supply of premier homes that is supposed to be offered for occupancy within the next year, according to a released statement on Tuesday by Fam Properties, major real estate brokerages in Dubai.

Firas Al-Msaddi real estate expert and CEO of Fam Properties has mentioned shortages of homes in some projects in highly-sought locations, adding that some real estate sectors might be currently over-supplied however others are under-supplied.

The under-supplied properties include spacious apartments offering exclusive features and special amenities and are highly demanded in Downtown Dubai.

Al-Msaddi has cited Mada Residences’ 36-storey tower of four-bedroom apartments located in Downtown Dubai that are developed by ARTAR as an example to emphasize the clear picture of supply and demand in Dubai, saying that it’s among few projects of similar standards.

Mada Residences is the only project that offers only two-bedroom apartments with maid rooms in Downtown including high-quality design features and floor to ceiling glass to reduce heat and noise by 30 percent.

The properties will be delivered in the second quarter of 2018, feature floor plans ranging from 2,852 square feet to 3,234 square feet with large terraces. The homes are in proximity to Dubai Mall and are highly desired by investors and end-users.