MARWAN AL-KINDI, executive director, sales and sales operations, at Dubai Properties, told Saudi Gazette in an interview that Dubai Properties is keen to be the preferred partner of choice for Saudi investors looking to tap into the exciting opportunities available in the emirate. He spoke on a wide-range of issues, including, the Dubai-based master developer's perspective of the real estate market and its exquisite portfolio of properties for the Saudi investors and homebuyers, showcased at Cityscape Riyadh. Here’s the excerpts:

SG: Why have you chosen Riyadh for your first Cityscape participation outside the UAE?

MK: Saudi investors have been major contributors to the growth of the real estate market in the UAE, particularly in Dubai. During the 18-month period from January 2016 to the end of June this year, Saudis made a total of 5,366 transactions worth over SR12 billion, making them the biggest Gulf-based investors in Dubai’s real estate other than Emiratis, according to Dubai Land Department.

As the leading real estate master developer in Dubai, Dubai Properties is keen to be the preferred partner of choice for Saudi investors looking to tap into the exciting opportunities available in the emirate. Saudi investors’ interest in Dubai’s property sector is important for our business, and we want to ensure that our development meet their needs and aspirations. We also consider this exhibition as the perfect platform to exchange knowledge and experience with the Saudi real estate sector.

SG: What are the highlights of your participation in Cityscape Riyadh?

MK: We are excited to be part of Cityscape Riyadh, and we believe that our presence here will allow visitors to learn more about the impressive investment opportunities Dubai Properties offers in Dubai. We are showcasing our premier offerings for both end-users and investors. Among them is the iconic 1/JBR tower, which is currently under construction at the entrance to the Jumeirah Beach Residence area in Dubai. The project featuring 2-, 3- and 4-bedroom apartments and 5-bedroom penthouses represents a new concept of waterfront luxury living, and will include all glass ceilings, and even swimming pools on some of the balconies.

We are also presenting the Bellevue Towers in Dubai’s Burj Khalifa area, comprising two towers with 1-, 2- and 3-bedroom apartments as well as lofts and penthouses, inspired by modern architectural trends and interior designs. Another major project is Arabella 3, which has been well received for its exceptional floorplan and layouts of the units, and the vibrant lifestyle it offers residents, including access to the lush green Mudon Central Park.

SG: How do you perceive Saudi investor interest in your projects?

MK: Dubai has always been a favorite destination for Saudi property investors as reflected in the huge interest in Dubai Properties’ projects at the Cityscape exhibition. We have been delighted to witness a large turnout of real estate investors and visitors at the Dubai Properties pavilion from the very first day of Cityscape Riyadh. This is an encouraging sign that shows heightened investor interest in our innovative projects based on our commitment to excellence and end-to-end service experience, all the way from project development through to sales, handover, leasing and retail management.

SG: What makes Dubai an attractive market for Saudi investors?

MK: Despite a conservative global economic outlook, Dubai has cemented its leading position in regional markets. The emirate has maintained its status as a stable and mature property market, supported by a buyer profile consisting of “end users, expats, long-term investors and first-time buyers”, the market is less sensitive to external factors.

The attractiveness of Dubai as a property market is reflected in the growing real estate transactions, which for the first half of 2017 reached a value of AED132 billion, achieved through 35,571 transactions, as per Dubai Land Department. The market has achieved a high percentage of growth compared to the same period last year, with total value increasing by 16.8 per cent from a total of 7,320 transactions — an increase of 25.91 percent compared to transactions for the first six months of 2016, DLD states. We believe this will continue, regardless of the global real estate market as an increasing number of locals and foreign investors are looking to invest in property in this increasingly dynamic emirate. — SG