The real estate market in Dubai is expected to witness a significant surge in prices of over 40% for Burj Daman, located in the Dubai International Financial Centre (DIFC). According to the real estate agency, Driven Properties, recent acquisitions and a bullish market indicate that the property will experience a sharp price hike.
Driven Properties strategically purchased 56 units in Burj Daman for AED 158 million, considering it as an ideal macro play in the Dubai real estate market, according to CEO Abdullah Aljaji. He further added that “the acquisition of Burj Daman at or below replacement cost, combined with the projected growth in the esteemed DIFC area, presents a significant margin of safety and great upside potential as the market continues to grow.”
With an 8% cap rate and a robust market, prices of Burj Daman are expected to increase upwards of AED 2,200 per sq.ft. in no time. The move to purchase the units below replacement cost is expected to offer a margin of safety and considerable growth potential. This prediction indicates an ideal investment opportunity in Dubai’s flourishing real estate market.
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