Property development companies in Dubai
Dubai is one of the most progressive cities in the world. It’s become the land of opportunity and one of the top tourist destinations with an irresistible lure of sophistication and luxury. Here, you’ll find everything from the tallest manmade structure in the world to sweeping desert dunes, sprawling beaches, manmade islands and expansive shopping malls. And with the influx of people moving to Dubai to live and work, it’s no wonder that the city has become home to many property development companies.
Investing in a property in Dubai is one of the wisest decisions you’ll make. But with the myriad of property developers in the city, finding the right one can be a daunting task. Here are a few tips when doing your homework.
- Always look for certification. The company should be presenting this to prove they are running a legal business and are reputable. And if they don’t? Ask for it.
- Look at their design expertise. Their unique architectural design, how they maximise on space and the types of finishes they include are important factors.
- Make sure the company is financially stable. Do some research to see how the company is doing. It’s crucial to invest in one that knows how to manage its finances.
Once you’ve found your property developer, it’s time to find the right property. Again, this could be difficult but it’s made easier when you have a checklist of considerations.
- Think like an investor. The possible return of the property should be at the top of your list. After all, the main reason for investing is to make money – especially if you are spending quite a bit of it to begin with.
- Take into account the type of tenant you’d attract. Middle-class earners, students, families, young professionals, and others, are drawn to specific property rentals and each tenant group comes with its own pros and cons.
- Growth and performance. If you are going to invest in a hotel apartment, for example, you should have its income data of the past three to five years at least. Take note of its performance over this period and find out if the population in the area has grown, if it attracts tourists, etc. Real estate companies in the UAE could provide these details for you as well.
- Location. Is the property accessible and near public transportation? People prefer to live in an area that allows for easy commutes during the day and night. Accessibility is crucial to your future tenants.
- Demand. What are people looking for these days? Your property should be aligned to people’s wants and needs. If people are more inclined to rent a studio, rather than a villa, for instance, then perhaps a studio is more profitable at this point in time.