Dubai’s real estate market has witnessed a remarkable resurgence, defying the challenges posed by the pandemic. As the UAE’s property sector thrives, Dubai Properties, a subsidiary of Dubai Holding Real Estate, has stepped up to cater to the burgeoning demand for luxurious living spaces. Recently, the esteemed developer unveiled the highly-anticipated final phase of its Mudon master development – Mudon Al Ranim. Boasting 182 exquisite townhouses with three and four-bedroom layouts, this community is designed to meet the evolving needs of discerning homeowners. This blog post takes you on a journey through the luxurious world of Mudon Al Ranim and explores the reasons behind the real estate boom in Dubai.
The Vision Behind Mudon Al Ranim
Dubai Properties’ commitment to excellence is evident in Mudon Al Ranim’s thoughtfully curated design. The decision to create this final phase came in response to the high demand from homebuyers seeking a sanctuary that harmoniously blends privacy, space, and flexibility. Khalid Al Malik, the Chief Executive of Dubai Holding Real Estate, expressed the developer’s dedication to meeting the evolving needs of residents. With a promise of a home that encourages work and play within the confines of its walls, Mudon Al Ranim sets a new standard for luxurious living in Dubai.
Unmatched Luxury and Amenities
Mudon Al Ranim stands as an embodiment of opulence, where each townhouse is meticulously designed in a single-row configuration. The spacious townhouses come in two distinct floor plans: ground plus one and ground plus two. Floor-to-ceiling windows and double-height ceilings infuse these homes with an abundance of natural light, creating an airy and welcoming ambiance.
Residents of Mudon Al Ranim will find a plethora of amenities designed to enhance their lifestyle. Fitness enthusiasts will be delighted with the well-equipped fitness centers, while children can revel in the thoughtfully crafted play areas. For those seeking leisurely outdoor activities, the community offers picnic spots, barbecue areas, swimming pools, and jogging tracks, all within easy reach. Dubai Properties has left no stone unturned in providing a resort-like experience for residents, ensuring their every desire is catered to.
Dubai’s Resilient Real Estate Market
The resurgence of Dubai’s property market amidst the pandemic can be attributed to various factors. The UAE government’s initiatives, such as granting residency permits to retirees and remote workers, have attracted investors and expatriates seeking stability and world-class amenities. Furthermore, the expansion of the 10-year golden visa program has provided an additional incentive for real estate investment.
Expo 2020 Dubai, a world-renowned event that took place recently, brought with it a wave of economic gains that further boosted the property market. The influx of visitors and investors during the expo had a positive impact on real estate prices and transaction volumes.
Dubai’s Real Estate Statistics
Dubai’s residential real estate market has witnessed significant growth, with prices rising at their strongest pace since 2014. According to a report by consultancy CBRE, the average price for residential units in the emirate recorded a staggering 16.9 per cent year-on-year increase in June. Apartments saw a surge of over 17 per cent, with prices reaching Dh1,294 ($352.6) per square foot, while villas witnessed a 15 per cent increase to Dh1,525 per square foot.
The volume of transactions in Dubai also experienced a notable upswing, with an almost 19 per cent annual increase in June. Off-plan transactions particularly flourished, growing by nearly 45 per cent, reflecting the renewed confidence in the market. Secondary market transactions softened marginally, indicating a shifting trend towards off-plan properties.
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