Dubai’s property demand has been struggling to keep up with the improvement in the economic activity in and around Dubai. Large properties bear the burnt of low demand as the business activity has been abysmal at best. Dubai’s low income people have always voiced their concern for unavailability of small apartments. Dubai Properties Group has launched a leasing initiative for 400 one bedroom apartments to timely fill the increasing demand for one bed room apartments in Dubai in its newly launched Shorooq Mirdif community. These one bedroom apartments on average occupy 1000 square feet each. Mirdif has been amongst the most sort after communities of Dubai where finding smaller affordable apartments has lately become a challenge. Shorooq’s community already has more than 1000 families living in different types of apartments it has offered in varying sizes.
CEO of Dubai Properties Group expressed optimism regarding the company’s future vision and offerings for its customers saying, “We continue to be committed to delivering sustainable communities in the most desirable neighbourhoods in Dubai. Shorooq Mirdif meets market demand for quality and affordability by delivering a holistic community experience in a great location at tremendous value for money.”
Dubai Properties Shorooq Mirdif community not only caters to the middle income earners in Dubai but it also plans to provide excellently luxurious large residences for the other interested potential residents. It will offer 2096 residences in total. In addition to the already mentioned one bedroom apartments, it will also offer two bedroom apartments. The types of villas that Dubai Properties Shorooq Mirdif community will offer include two, three, and four bedroom villas with each having its own garden. The community’s locality along with the leasing option availability will have a significantly positive impact on community’s properties.
Such bold initiatives by the private sector to incorporate the middle income group in buying properties and the increasing availability of leasing facility for real estate in Dubai backed at times by the Dubai’s authorities for real estate, are major factors that can significantly help uplift the image of Dubai’s real estate market.