fm Properties Tops AED1.59 billion in Sales, Invests in Dubai Property Market Future

After topping AED1.59 billion in sales this year, among the UAE's leading real estate brokerages is making a fresh investment to increase procedures as a sign of its self-confidence in the Dubai property market.

Firas Al Msaddi, CEO of fm Characteristics, stated today that a five-year lease signed with Nakheel for a new three-floor retail electrical outlet on the Hand Jumeirah stands for a AED9 million financial investment as the firm looks to dramatically enhance the dimension of its sales team.

If we didnt believe in this market, the last thing we would be doing is signing an unbreakable five-year contract, said Al Msaddi. The fact that weve now exceeded sales of AED1.5 billion this year shows that investor interest is very much alive.

Significant bargains protected by fm Features this year consist of AED700 million dirhams for five mass property transactions in freshly created areas of Dubai such as Bluewaters Island as well as Citywalk, along with two AED170 million stories of land to be established in Business Bay.

All home and also land sales have been confirmed by the Dubai Land Division and signed up with the Tamleek trustee workplace as applicable.

" While I do not see cost recognition in the short term, our scenario in Dubai is far better than in other leading worldwide markets that are commonly viewed as safe heavens, according to a current report from American Financial institution UBS on international real estate, qualifying Hong Kong, Toronto and also London as extremely valued markets with their bubbles ready to burst" said Al Msaddi.

" The government will not discontinue its efforts to increase the Dubai home market, so there are terrific possibilities for financiers in the medium as well as long-term."

The new retail properties on The Hand Jumeirah becomes the 7th such facility in the UAE for fm Features which has its head office in Business Bay. The company intends to raise its present group of property sales agents from 95 to 150 backed by 100 management team.

Caption: Firas Al Msaddi CEO of fm Properties: The government will not cease its efforts to boost the Dubai property market.