This post is also available in: العربية (Arabic)
The real estate market is undoubtedly one of the most dynamic markets in the global scenario, and Al Mazaya Holding Company ensures that you remain updated about the latest developments and trends in the property market. We invite you to browse through our exhaustive media library to know more about global and regional markets so that you are in a position to make informed decisions when it comes to your property investments.
Property Watch
Al Mazaya Adds a Touch of Luxury to the Middle-Income Housing Sector through its Q series project in Dubai and Ritim project in Istanbul
Sales rates and occupancy of Queue Point and Q-Line residential buildings proving demand for mid-level Dubai property remains high
In a region that has long prided itself on producing high-end properties with innovative concepts, it is refreshing to see that the demand for medium-priced housing is finally being recognised by developers. Al Mazaya Holding is taking a leading role in addressing the need for these types of housing developments.
Al Mazaya, the Kuwait-based real estate property and land developer with managed investments throughout the GCC and Middle East region, has answered the call of middle income families and young executives – a significant and growing demographic in the Gulf countries and Dubai, in particular.
Al Mazaya is considered one of the most distinguished real estate development companies within the Middle East market, having been the driving force behind a number of impressive projects across the MENA region. These include the Ritim project that was developed in Istanbul, a sprawling residential and commercial complex. Al Mazaya also currently has a portfolio of various other projects under construction in many other countries across the region.
Furthermore, Mazaya is engaged in several different real estate fields like purchasing, ownership, selling of land, and their development for projects both inside and outside of its home country, Kuwait. Furthermore, Al Mazaya handles the management of third party properties, as well as the management, operations and investment in the leasing and renting of hotels, health clubs, recreational parks, gardens, exhibition grounds, restaurants, residential and commercial complexes, and tourist and health resorts.
It is to this end that during Cityscape Global 2016, Al Mazaya will be showcasing a series of its mid-range housing and apartment projects – which reflects the strength of the booming UAE real estate market and the demand for property within thriving cities like Dubai – including its Queue Point and Q-Line properties. A standard one-bedroom unit in Queue Point, for example, is currently on the rental market for AED48,000 per annum (AED4,000 per month) and is thus well within the price range of middle-income tenants.
According to Al Mazaya Holding, since Queue Point came onto the buyer’s and renter’s market in 2015, the occupancy rate – in just a few months – has reached 80 per cent. Likewise, since Q-Line was introduced to the market, 75 per cent of the units have been sold. This is further proof that demand for reasonably priced housing units is a sector that is showing no sign of slowing.
Al Mazaya plans to showcase Queue Point and Q-Line in Dubai and Ritim Istanbul in Turkey at Cityscape this year. Both projects have limited availability at present, ranging from 20-25%, due to their prime location and affordability. The strong demand and consumer confidence in the property market of Dubai for residential units like these ensure that at the current market prices, Queue Point and Q-Line properties are bound to sell out soon.
