Real Estate

By Andrei Charapenak, CEO of Major Developers

Recent data shows that UAE residents are increasingly directing a larger portion of their income towards enhancing their lifestyle. This shift, driven by a growing interest in luxury, wellness, and sustainability, is reshaping the real estate market. Developers can capitalize on these trends by crafting smart real estate strategies that cater to the evolving preferences of UAE residents.

One notable example of this shift is Manta Bay on Al Marjan Island in Ras Al Khaimah. This innovative development emphasizes sustainability and luxury, featuring the first-ever rooftop sky beach and a manta ray aquarium farm dedicated to marine conservation. Manta Bay is poised to become a regional icon, perfectly aligning with the rising demand for high-end living experiences.

Understanding the Consumer Shift

UAE residents are spending more on lifestyle-related experiences, including luxury goods and wellness products, and this is extending to real estate. High-end buyers now seek properties that align with their values and enhance their lifestyles. As a result, developers are incorporating features like wellness amenities, sustainable design, and smart technology into their projects to meet these new expectations.

Implementing a Smart Real Estate Strategy

For Major Developers, staying ahead requires a comprehensive real estate strategy focused on key pillars that address these shifting consumer preferences:

• Sustainable and Eco-Friendly Design: Green building technologies and sustainable practices are now essential. Energy-efficient materials, water-saving systems, and renewable energy sources are crucial in appealing to environmentally conscious buyers.

• Wellness-Oriented Properties: With increased spending on health and wellness, projects that offer features such as spas, fitness centers, green spaces, and access to nature are becoming increasingly attractive to potential buyers.

• Smart Technology Integration: Home automation, AI-based security systems, and energy-efficient smart appliances are no longer considered luxury items but essential features. Smart homes that offer these advanced technological solutions appeal to both local and expatriate residents.

• Personalized Luxury: Today’s high-end buyers expect personalized luxury, including customizable interiors, private amenities, and exclusive concierge services.

• Community-Centric Development: Beyond individual homes, buyers are looking for community-centric developments that foster interaction, convenience, and a sense of belonging. Developments offering communal spaces, social hubs, and retail outlets within walking distance are in high demand.

Conclusion: A Future-Proof Real Estate Strategy

As UAE residents continue to prioritize lifestyle enhancements, developers like Major Developers must shift towards creating personalized, wellness-oriented, and sustainable living spaces. By integrating smart technology, eco-friendly design, and community-focused features, developers can remain at the forefront of the UAE’s rapidly evolving real estate landscape, meeting the demands of a diverse and dynamic consumer base.

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