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Prospective Buyers in Dubai are Lining Up to Secure Townhouses

Prospective Buyers in Dubai are Lining Up to Secure Townhouses

Photos and videos posted on social media on Tuesday night and Wednesday morning showed long lines of people hoping to get a good deal as master developer Nakheel launched 360 units as part of phase 2 of Murooj Al Furjan West. The new townhouse collection in the Al Furjan master community includes three- and four-bedroom units starting at Dh1.85 million.

Marwa, a property consultant, predicted that buyers would line up until all units were sold.

Farooq Syed, CEO of Springfield Properties, stated that Nakheel's latest launch has received an "excellent response." “Ready townhouse prices have risen extremely quickly in the post-Covid era, as people prefer the extra square footage and communal lifestyle to living in tall vertical structures. Furthermore, Nakheel is (among the few)… developers launching townhouses near Sheikh Zayed Road.”

He also stated that the townhouses have larger plot sizes and built-up areas than others on the market.

Noble Empire Real Estate Brokers' managing director and business owner, Fathi Akram Skaik, said phase one of the project sold out "within hours."

“The newly launched project demonstrates that there is still a high demand for townhouses in the market. “I believe there will continue to be a demand for townhouses and small standalone villas in the future,” Skaik added.

According to Krishma Gehani, senior client manager at Homes4Life Real Estate, the upcoming Expo 2020 Dubai will attract a significant amount of international investment. She expects this to rise further as property owners are granted five- and ten-year Golden Visas.

Source: Khaleej Times

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