Fm Properties Tops AED200 million in Bluewaters Residential Sales
Among Dubai's leading real estate brokerages is reporting a new wave of investor interest in prime realty after topping AED200 million in domestic sales at the Bluewaters island development.
Firas Al Msaddi, CEO of fm Properties, says a more powerful focus on just what makes the most effective buys for temporary vacation home service or re-sale has actually been vital to investment in the Meraas growth, which houses the globe's largest observation wheel, Ain Dubai.
We have learnt from experience that buying full buildings is not the best strategy for our investors, especially in slow markets, as only the best units perform well on rent or resale, said Al Msaddi.
" So at Bluewaters we entered into every structure and virtually every unit to recognize exactly what truly were the very best buildings. The offers secured included the whole front of one structure on 5 floors overlooking the wheel and also dealing with the sea, the Hand Jumeirah as well as the skyline."
Currently managing a profile of over AED2 billion for capitalists, having transported greater than AED5 billion of financial investment into Dubai, fm Properties states 50% of the inventory at Bluewaters has been earmarked for mass sales for temporary vacation home on their perfect location. The other 50% will return to the marketplace on resale as the very best units available.
One of the factors which makes Bluewaters so attractive is that the master developer retains a very big interest in the project because they own all the retail elements and the hotels, said Al Msaddi.
" This ensures they will constantly carry adequate website traffic to the development and allot a good advertising spending plan to advertise it in your area as well as internationally, which is something capitalists can utilize."
Located just off the shore at Jumeirah Beach House, Bluewaters is a family-oriented island location featuring a choice of costs homes, penthouses, and condominiums, in addition to almost 200 retail and also dining concepts
A purpose built bridge links the island with Sheikh Zayed Road, while automated vehicles will transfer guests to Bluewaters from Dubai City's Nakheel Harbour and also Towers terminal.
Caption: Firas Al Msaddi CEO of fm Properties
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