Cityscape Abu Dhabi. <A number of finance banks are participating in the show to promote their offers of competitive interest rates on real estate loans and to provide advice to those interested during Cityscape Abu Dhabi. These include National Bank of Abu Dhabi, First Gulf Bank, Saxo Bank, Jordan Kuwait Bank and Egyptian Arab Real Estate Bank, in addition to Abu Dhabi Finance Bank, the official provider of financing solutions. Nationwide Middle East Real Estate, a leading real estate brokerage firm, will launch Alabbar's latest project at the show, a 29-storey luxury residential tower with stunning views, which is expected to be completed in early 2016.
Nationwide Middle East Real Estate, a leading real estate brokerage firm, is also participating in the show. <Amin Al Qudsi, Chief Executive Officer of Nationwide Middle East Real Estate, said: “Due to the quality of the products offered by developers and the payment offers available to investors, end-user demand for housing continues to rise.”
Amin Al Qudsi, Chief Executive Officer of Nationwide Middle East Real Estate, said.
<Qudsi added: “Following the amendment of the rent increase cap law and the removal of the 5% rate, this has contributed to higher income on investment ratios for individuals who choose to buy, making the option of buying more favorable than renting. Government regulations have restored investor confidence in the Abu Dhabi real estate market over the past few years, and with the provision of advanced infrastructure, we have seen a rise in future projects in various sectors. This in turn contributes to attracting more new consumers to the market, both from inside and outside the UAE.”
<The Abu Dhabi Market Outlook will return on the opening day (April 21), hosted by JLL and supported by Masdar City. The half-day event aims to draw attention to the latest trends and initiatives in the emirate, including future developments and upcoming new laws in the real estate sector. On a related note, a recent study held in the UAE showed that nationality plays an important role in determining how investors pay for their properties, and that Emiratis, unlike expatriates, prefer to pay in cash rather than finance.
A recent study conducted in the UAE showed that nationality plays an important role in determining how investors pay for their properties. The study, conducted by global market research firm YouGov, found that 54% Emiratis prefer to pay by cash or check compared to investors of other nationalities such as Western expats (27%), Arab expats (37%) and Asians (37%), as Cityscape Abu Dhabi prepares to launch thousands of real estate units next week.
The study, conducted by global market research firm YouGov, revealed that Emiratis are more likely to pay in cash or by check than expats of other nationalities. <The survey of 308 UAE residents revealed that 85% of property owners are over the age of 50, with the majority of respondents citing location as one of the most important factors they consider when deciding to invest in the real estate market. Properties near shopping malls were the most attractive at 51%, followed by properties near beaches and parks.
<Commenting on the findings of the study, Kalishnagdev, Executive Director at YouGov UAE, said: “The study highlights the growing consumer confidence in the local real estate market with three-quarters of ”first-time buyers“ preferring to preferred to buy their real estate in the UAE. However, consumers want to invest in more than just a residential unit, which challenges developers to offer innovative investment propositions and attractive financing and home loan plans to ease the buying process for first-time buyers.”
Cityscape's Cityscape UAE is the first real estate show in the UAE to showcase the growing confidence of consumers in the local real estate market. Cityscape Abu Dhabi is supported by strategic partner Department of Municipal Affairs, platinum sponsor - Zawya Oasis, silver sponsor - Farglory, VIP sponsor - Ejada Asset Management Group, and Abu Dhabi Finance - the official financing solutions provider.
