Latest news with #fämProperties
Daily Tribune
5 days ago
- Business
- Daily Tribune
Dubai's Blue Line to reshape Gulf thinking on urban value
TDT | Manama Dubai's new Metro Blue Line is being hailed as a model for how transport infrastructure can transform the urban economy, with real estate strategists calling it a game-changer for the city's property landscape. The megaproject is sparking interest across the Gulf, where cities including Manama are planning or expanding their own longterm transit systems. Firas Al Msaadi, CEO of fäm Properties, said the line will redefine how value is created in urban areas. 'This is not just a metro expansion, this is a game-changer for Dubai's urban economy,' he said. 'The moment you cut commute time you raise the productivity of the entire city.' Citywide impact The 30 km Blue Line will link nine districts including Dubai Creek Harbour, Academic City, and Dubai Silicon Oasis. Real estate in these areas is already drawing increased interest, driven by what Al Msaadi calls 'connectivity as the new currency of real estate.' He added that infrastructure investments benefit even those who do not use the metro directly. 'Less traffic, smarter logistics, higher efficiency - that's how infrastructure becomes a wealth generator.' Construction of the first station began last week at Dubai Creek Harbour, marking the beginning of what is expected to be one of the most advanced mobility systems in the region. Redrawing investment The Blue Line is expected to shift investor behaviour across the emirate. Al Msaadi noted that demand is already rising for housing near metro access points, while undervalued areas such as Academic City and International City are gaining fresh investor attention. Properties located within walking distance of metro stations are expected to command higher rental yields, and developers are beginning to rework future masterplans with metro connectivity as a central design factor. 'Transportation is the one thing that benefits everyone, even those not using it,' he said. 'When others take the train, you drive with less traffic. When a city becomes more fluid, your asset appreciates.' Gulf relevance With cities across the GCC seeking to enhance livability, efficiency, and sustainability, Dubai's Blue Line offers a high-profile example of how strategic infrastructure can serve as a foundation for longterm urban resilience and economic growth.
Mid East Info
6 days ago
- Business
- Mid East Info
Blue Line to transform Dubai's urban economy, turn infrastructure into ‘wealth generator' - Middle East Business News and Information
Firas Al Msaadi says Metro expansion to have massive real estate effect, shape Dubai's future as global, liveable, and investable city Dubai, UAE, 16th June, 2025: The Dubai Metro Blue Line will transform Dubai's urban economy, as connectivity becomes the new currency of real estate in the city, turning infrastructure into a wealth generator, a leading property expert says. Firas Al Msaadi, CEO of fäm Properties, said the Blue Line expansion will advance Dubai's future as a global, liveable, and investable city, bringing massive implications for real estate. 'This is not just a metro expansion, this is a game-changer for Dubai's urban economy,' says Al Msaadi. 'The moment you cut commute time you raise the productivity of the entire city. 'Transportation is not about movement – it's about time, opportunity, and value creation. With the Blue Line, Dubai is not only connecting nine key districts, it's connecting people to possibilities. 'Property values in and around the Blue Line – especially Dubai Creek Harbour, Academic City, and Dubai Silicon Oasis – are bound to see a clear upward shift. Connectivity is the new currency of real estate. 'But the impact will be citywide, even for those who never use the metro. Less traffic, smarter logistics, higher efficiency – that's how infrastructure becomes a wealth generator. Construction on the megaproject began last week with the laying of the foundation stone for the first station at Dubai Creek Harbour, and Al Msaddi said: 'Once completed, this will be one of the most advanced, modern, and high-impact transportation networks in the world. 'But it's not just about stations – it's about shaping the future of Dubai as a global, liveable, and investable city. The Blue Line is the foundation of a faster, more productive, more connected Dubai, and the implications for real estate are massive.' Metro and other transit projects have had a positive impact on residential properties in many major cities. 'Dubai will be no different,' says Al Msaadi. 'In fact, it may see an even greater impact, because its productivity is impacted by traffic like any global megacity. 'When you reduce commute times, you unlock economic output. People arrive earlier, businesses operate smoother, areas become liveable. You expand the map of investable zones.' Among the consequences he identifies are: More demand for housing in connected districts More investor attention to undervalued areas like Academic City, Dubai Silicon Oasis, and International City Premium uplift in prime projects near metro lines, with Creek Harbour already in motion Higher rental yields for units within walking distance to stations Developers will rethink their masterplans with 'metro-first' logic 'Transportation is the one thing that benefits everyone, even those not using the metro,' says Al Msaadi. 'When others take the train, you drive with less traffic. When a city becomes more fluid, your asset appreciates. 'This is how global capital flows follow infrastructure, and this is exactly the type of move that positions Dubai for long-term competitiveness in global liveability and investment benchmarks.' Ends
Khaleej Times
04-06-2025
- Business
- Khaleej Times
Dubai's property market sets new sales record in May
Dubai's real estate market continued to witness unprecedented growth, smashing records with Dh66.8 billion in sales in May 2025, a 49.9 per cent surge from the previous year, according to fäm Properties. This blockbuster performance, propelled by strong demand and global investor confidence, underscores Dubai's status as a magnet for wealth and a destination of stability in a volatile world. Despite whispers of a potential price correction, the market's fundamentals remain rock-solid, with an undersupply of office space and a steady influx of high-net-worth individuals driving sustained growth. The May figures, reported by DXBinteract, reveal 18,693 transactions, making it the second-highest month for sales volume on record. This marks a dramatic climb from prior years: Dh2.3 billion from 1,400 transactions in 2020, Dh11.1 billion from 4,400 in 2021, Dh18.3 billion from 6,600 in 2022, Dh33.6 billion from 11,600 in 2023, and Dh46.4 billion from 17,600 in 2024. Last month's crown jewel was a luxury villa on Palm Jumeirah, sold for Dh300 million ($81.7 million), alongside a Jumeirah Residences Asora Bay apartment fetching Dh164 million ($44.7 million). High-value properties shone, with 14 per cent of sales exceeding Dh5 million ($1.4 million), while 30 per cent fell in the Dh1-2 million ($272,000-545,000) range and 26 per cent below Dh1 million ($272,000). Firas Al Msaddi, CEO of fäm Properties, dismissed concerns raised by a Fitch Ratings forecast of a 15 per cent residential price correction, emphasising market maturity over weakness. 'A slowdown in growth isn't a correction,' he said. 'Dubai's demand base is strong, and absorption will catch up.' Approximately 363,000 residential units are slated for delivery over the next five years, but only 12,000 are near completion (80-99 per cent progress), with 270,000 units at early stages (0-20 per cent). Completed project deliveries in 2024 dropped 23 per cent from 2023, dispelling fears of oversupply. However, localised pressure may emerge in areas like Jumeirah Village Circle, expecting 20,000 units in the coming years, potentially causing temporary price adjustments. In contrast, Dubai's office market faces a stark undersupply. 'Quality commercial space is extremely limited, with strong demand and minimal new inventory in prime business zones,' Al Msaddi noted. This scarcity is driving value appreciation, with no price correction in sight. Developer first sales dominated, accounting for 66 per cent of transaction volume and 67 per cent of value, far outpacing resales. DXBinteract data shows Dubai gained 212 per cent more millionaires over the past decade, while London lost 45 per cent. 'Dubai is a secure investment environment where wealth is preserved and grown,' Al Msaddi said. Property Finder data underscores this, with the US leading international search traffic, followed by the UK and India, signaling a shift in global interest. Despite challenges like inflation and geopolitical volatility, investor confidence remains unshaken, driven by Dubai's lifestyle allure and economic stability.
Mid East Info
02-06-2025
- Business
- Mid East Info
Dubai Real Estate hits new monthly sales peak of AED66.8 Billion in May - Middle East Business News and Information
Demand base remains strong, market is evolving, while commercial sector faces undersupply – Firas Al Msaadi Dubai, UAE: The Dubai real estate market set a new all-time monthly sales record of AED 66.8 billion in May, a 49.9% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month's total of 18,693 transactions also made it the second best-selling month on record in terms of volume. The company's CEO, Firas Al Msaddi, says the data from DXBinteract underlines the strength and stability of a market which is evolving, without any broad threat of oversupply in the residential sector, but now facing an undersupply of office space. In response to a recent Fitch Ratings forecast for a 15% correction in Dubai residential property prices, Al Msaddi said: 'While growth has slowed, that's not the same as a correction. A slowdown in growth is a sign of market maturity, not market weakness. 'Approximately 363,000 residential units are expected to be delivered in Dubai over the next five years. However, over 270,000 of those are still at early construction stages, with only 0–20% progress as of today.' He states that just 12,000 units are close to completion (80–99% progress), dispelling any notion of a market-wide oversupply. Additionally, completed project deliveries in 2024 are down 23% compared to 2023, showing the city is not facing a glut of ready units. 'In specific segments, there may be temporary price adjustments,' said Al Msaadi. 'For example, Jumeirah Village Circle is expected to receive around 20,000 new units over the coming 4 to 5 years. 'This concentrated delivery volume may place short-term pressure on pricing in that area, but this is not reflective of the broader market. Even if a correction occurs in pockets of the residential sector, it's temporary. Dubai's demand base is strong, and absorption will catch up.' Meanwhile, Dubai is facing an undersupply of office space. 'Quality commercial space remains extremely limited, with strong demand and minimal new inventory, especially in prime business zones,' says Al Msaddi. 'As a result, no price correction is expected in the office segment, which continues to see firm value appreciation.' Dubai property sales in May have soared in value over the last five years – from AED2.3 billion (1,400 transactions) in 2020, AED11.1 billion (4,400) in 2021, AED18.3 billion (6,600) in 2022, AED33.6 billion (11,600) in 2023 and AED46.4 billion (17,600) in 2024. The most expensive individual property sold last month was a luxury villa at Palm Jumeirah which fetched AED300 million. The most expensive apartment sold during the month went for AED164 million at Jumeirah Residences Asora Bay. The Dubai real estate market is supported not only by construction dynamics, but by global migration patterns of high-net-worth individuals. As per DXBinteract's investor profiling and international market comparisons, London lost 45% of its millionaires over the past decade, while Dubai gained 212% during the same period. 'This contrast reflects a global shift in investor confidence,' says Al Msaddi 'Dubai has become a magnet for global capital, not just as a lifestyle destination, but as a secure investment environment where wealth is preserved and grown. It's where millionaires come to live, and more importantly, where they choose to invest.' With properties worth more than AED5 million accounting for 14% of total sales last month, 30% came in the AED1-2 million range, 26% below AED1 million, 18% between AED2-3 million and 12% between AED3-5 million. Overall, first sales from developers far exceeded those of resales – 66% over 34% in terms of volume and 67% over 33% in overall value.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
AI fuels Dubai's property boom; draws millennial buyers
Dubai's property market, long an epitome of architectural marvels and reimagined luxury, is undergoing a seismic shift, not through towering skyscrapers or sprawling waterfront estates, but through the quiet power of Artificial Intelligence (AI). From chatbots that serve as tireless virtual agents to sophisticated platforms forecasting rental yields and capital growth, AI is revolutionising how properties are bought, sold, and invested in across the emirate. This technological wave is ushering in a generational transformation, drawing a younger, tech-savvy cohort into the heart of Dubai's real estate scene, as revealed by compelling new data. A recent market report unveiled by fäm Properties paints a vivid picture of this change. The average age of property buyers has plummeted over the past eight years. In the off-plan sector, it dropped from 54 in 2017 to 44 in 2025, while in the ready or re-sale market, it fell from 53 to 42. This is not just a statistical blip — it is a sign of a broader demographic pivot. The 36-45 age group now dominates, accounting for 40 per cent of off-plan sales and 44 per cent of ready and re-sale transactions in 2025. Even more striking is the surge among younger buyers: the 21-25 age bracket snapped up 38.6 per cent more off-plan properties and 33.3 per cent more ready or re-sale properties compared to last year. Meanwhile, the 26-30 age group boosted their purchases in the ready market by 31.9 per cent. At the core of this shift is AI-powered technology, exemplified by platforms like DXBinteract, a leading source of market intelligence. These tools track buyer preferences, monitor market trends, and deliver data-driven insights, empowering investors, buyers, and agents to make swift, informed decisions. For younger buyers, accustomed to digital fluency, this transparency is a game-changer. 'In the past, the market leaned on older investors who trusted their gut and experience,' said Firas Al Msaddi, CEO of fäm Properties. 'Now, AI and digital tools are leveling the playing field, educating younger buyers and making the market more accessible. While human judgment remains vital in this complex landscape, AI's role is only set to expand as the technology evolves.' The data underscores this trend. In 2025, the 41-45 age group leads off-plan sales, capturing 21 per cent of transactions, with 36-40-year-olds close behind at 19 per cent. The ready or re-sale market mirrors this pattern, with 36-40-year-olds driving 23 per cent of deals and the 41-45 segment contributing 21 per cent. Yet, it is the younger cohorts posting the most dramatic year-on-year gains, signaling a market increasingly shaped by millennial and Gen Z technological and demographic evolution tooj center stage at the recent Game Changers 2.0 real estate summit, at Dubai's Coca-Cola Arena. Tech visionary Mo Gawdat, former chief business officer at Google [X], delivered a keynote address, joined by Al Msaddi and Dr. Mahmood AlBurai, senior director of Real Estate Policies and Innovation at Dubai Land Department. The event drew industry leaders, developers, and tech innovators eager to explore AI's impact on real estate. Gawdat's insights highlighted how big data and digital innovation are not just tools but catalysts for a new era in property investment. As realty experts argue, Dubai's property market has always thrived on bold moves, but AI is proving to be its most transformative force yet. By arming younger buyers with unprecedented access to information and predictive analytics, it is dismantling barriers and rewriting the rules of engagement. While the human touch still guides complex decisions, the rise of AI signals a future where data reigns supreme, and a new generation of investors is ready to claim its stake in Dubai's glittering skyline. As the city continues to evolve, this fusion of technology and ambition ensures its property market remains a global pacesetter. issacjohn@
