Search DubaiPRNetwork.com

Home >> Real Estate & Retail

fäm Properties Tops AED1.3 Billion in City Walk Residential Sales

fäm Properties Tops AED1.3 Billion in City Walk Residential Sales

Tuesday, August 8, 2017/ Editor -  

Share

Home >> Real Estate & Retail

Al Msaddi says unique Dubai project highlights need for developers, investors to focus on supply and demand factor

Dubai, UAE, 8 August 2017:  One of Dubai’s largest real estate brokerages, fäm Properties, has topped AED1.3 billion in residential property sales at City Walk, the new destination developed and managed by Meraas in the heart of Jumeirah.

Firas Al Msaddi, the fäm Properties CEO, said today that the bulk of sales were to first-time buyers of buildings, while just over AED325 million worth of sales were in the secondary market.

He believes the volume of sales delivers a strong message to both developers and investors about the importance of understanding, and capitalising on, the dynamics of supply and demand in the Dubai property market. 

“It shows how important it is that developers study the current type and volume of property supply as well as demand in today’s market,” he said. “This will allow them to create an exclusive product with unique specifications and features that fashion a new type of living experience, rather than duplicate something already in good supply.

“At the same time, there’s a lesson here for investors about picking developments and properties that deliver new and more attractive lifestyle offerings to continuously attract end-users”.

City Walk is the only freehold, modern, low rise development in Jumeirah with exclusive retail and entertainment components. The five-and six-storey pavilion-style City Walk Residences are complemented by many first-time shopping, entertainment, hospitality and wellness options.

The project will house signature hotels, more than 300 retail brands and a High Street Boulevard featuring boutiques, galleries, restaurants & cafés. 

Said Msaddi: “We were the first real estate company to start promoting City Walk to investors after Meraas launched sales, and we have channelled a great deal of capital investment under our control into the project because of its unique appeal.”

Now targeting AED1.5bn in overall sales at City Walk by end of Q3 2017, fäm Properties is using an 18-strong team of real estate advisors for all property management, leasing and sales requirements on site, while its engineering team is handling handover and snagging. 

Special attractions at City Walk include the 20,000 capacity Dubai Arena and the Green Planet Bio-dome which recreates a tropical forest with 3,000 plants and animals.


Previous in Real Estate & Retail

Next in Real Estate & Retail


Home >> Real Estate & Retail Section

Latest Press Release

Add classy and timeless furniture and décor pieces to your home with United Furn ...

Al Ghurair International Exchange unveils PAN Card service

Finalists Decided in Dubai World Superseries Finals

4 Emiratis sizzle in dazzling start to AED 1 million Fazza Championship for Youl ...

Sharjah Presents Japan on Outstanding Business Opportunities

du Introduces Students to the Importance of Cyber Safety in the UAE

Sheraton Grand Hotel, Dubai Announces New Yoga Sessions

Pure Gold Jewellers Joins Forces with Disney to Launch Exclusive New Diamond Col ...

Hamilton's Khaki Aviation X-Wind line heads for new heights as the brand launche ...

HydroPeptide Anti-Aging Skin Care Launches in UAE

Srikanth Falls, Sindhu Shines on Day 2

New Rolls-Royce Phantom Debuts in Oman

Stars Popescu, Novosjolov and Beljajeva headline International Epee Cup

Huawei partners with Xpress Money to grow Mobile Money footprint in Africa

Enjoy tasty treats and some relaxed retail therapy for a chance to win a Mini Co ...

Sleigh your style with women'secret's festive collection

DIFF Closes With Full Force on the Red Carpet

Etihad Airways Recognised for Commitment to Travellers' Health

Party Season Essentials at Paris Gallery

Keep Your Memories Safe Effortlessly This Festive Season with Western Digital's ...