9 REAL ESTATE TRENDS IMPACTING THE REGIONAL PROPERTY SECTOR BY THE BIG 5

We’ve picked nine trends quickly changing the real estate sector in the Gulf

Keeping up with the regional real estate market takes agility. Markets move, populations shift and people’s needs can change as rapidly as their demographics.

In a sector heavily analysed and commented on, it’s important to stay on top of the issues shaping its immediate future. Here are nine we think deserve the most attention.

1. Affordability
Luxury has long been the moneymaker for residential property developers. Today, home buyers in the Gulf are looking for more affordable places to purchase. People looking for smaller properties, away from premium locations, means developers need to find a way of meeting that demand. They will need contractors who can adapt to faster, more modular, construction methods and find quality materials that keep build costs down.

2. Community
People are no longer happy to put up with living on a road with no name, in a house with no number. Agents know it is easier to market properties that benefit from planning and investment which meets the needs of the future community today. That means play grounds, parks, shops and even schools. Just dwellings are no longer enough.

3. Property demand versus final delivery
While there is talk of oversupply in the most active Gulf property markets, some commentators believe it to be exaggerated. Partly this is because headline grabbing projects under-deliver completed square metres. But residential consumers are wary of this shortfall and look for off-plan properties that show signs of real progress. Utilities need to be kept informed too, which means plenty of communication with developers if everything is to be connected by moving day.

4. Developer finance
Banks are no longer the only source of finance for the region’s developers. Or those looking to get on to the property ladder. Developers have become financiers, offering buyers deposit options and phased repayment terms to sell properties off-plan. While this adds to their risk, it is also bringing flexibility. In the meantime, private finance is also entering the market, giving developers with a solid reputation some competitive money options.

5. Energy use
As green building points systems become stricter across the Gulf, lowering a building’s thirst for power will be essential to achieve the best ratings. In both residential and commercial developments finding ways to optimise energy use, or even generate power, is now big business.

6. Regulation changes
With dynamic fast-growing markets come growing pains. Regulators fine tune rules to keep the market in balance, discourage the fast resale of properties and to get more properties into the hands of end users. Staying on top of how things are changing means getting regular updates from government authorities and specialist legal teams.

7. Urban sprawl
Rapid development in the biggest GCC cities has pushed property developers down and out. This means fewer tall towers in tight spaces. Instead, urban sprawl is offering renters and buyers less central new locations, which are more affordable.

8. Visas
Developers in the UAE held their breath when the introduction of 10-year visas was announced in May this year. New visa regulations could spur long-time residents to make a purchase. They may also open up the possibility of expatriates being able to retire in the UAE. The full regulations are not out yet. But the possibility more people may be able to stay for longer is fuelling hope of a surge in home buying. Neighbouring nations will be watching, to see what happens.

9. Working styles
Work life isn’t what it used to be. Changes in the way people do their jobs is driving office design in new directions. Commercial real estate developers need to change too. Grade A office supply remains tight in the region and the big multi-nationals are looking for office space that responds to the needs of the region’s young workforce. Activity-based work environments, hot desks and open spaces tempered by quiet zones are key components in high grade office space.

To learn more about these trends register to attend The Big 5 for free, 26-29 November 2018. REGISTER NOW  

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About The Big 5

26 - 29 November 2018, Dubai World Trade Centre

The Big 5 is the region’s largest and most influential event for the construction industry. 

Organised by dmg events, the exhibition showcases 360-degree building solutions clustered in six product sectors: MEP services, Building Interiors & Finishes, Building Envelope & Special Construction, Construction Tools & Building Materials, and Construction Technology & Innovation.

Gathering buyers and manufacturers of construction products from around the world, The Big 5 also offers a broad educational agenda, with two high-level conferences and dozens of CPD-certified workshops.

On its 39th edition, the event features Middle East Concrete, HVAC R Expo, the Urban Design & Landscaping Expo and The Big 5 Solar. 

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About dmg events

dmg events is a leading organiser of face-to-face events and a publisher of trade magazines.

We aim to keep businesses informed and connect them with relevant communities to create vibrant marketplaces and to accelerate their business across multiple platforms.

dmg events organises more than 80 events across 25 countries, attracting over 425,000 attendees and delegates every year.  The company’s portfolio of products includes many industry leading events such as The Big 5 construction shows, ADIPEC and Gastech energy events.

Founded in 1989, the company is headquartered in Dubai, UAE, and is a wholly-owned subsidiary of the Daily Mail and General Trust plc (DMGT, www.dmgt.com), one of the largest media companies in the United Kingdom.