Empire Developments | A New Player in the UAE Real Estate Market
Dubai-Based EssKay Holdings and Peace Home Real Estate have built a new path to enter the UAE real estate market, giving rise to Empire Developments—a new player on the scene. With a strong focus on affordable ready-to-move-in residential developments, Empire Developments aims to provide the growing demand in the market.
An official press launch scheduled for the end of August 2023 will mark the formal introduction of Empire Developments. During this announcement, important details will be revealed. Which includes the completion status of their debut residential venture, upcoming project in 2023, and their plans for regional expansion. Additionally, Empire Developments is in the final stages of delivering their first project, Empire Residence. It is situated in the Jumeirah Village Circle (JVC) community.
Kamran Ghani, the CEO of Empire Developments, expressed. “Our combined expertise in residential and hospitality, coupled with a background in construction and property brokerage, allows us to provide quality assets and attractive returns, making luxury more accessible. The launch of our first project underscores our commitment to both investors and end-users, showcasing our long-term dedication.”
Moreover, the UAE real estate market is currently succeeding, yet the challenge posed by growing interest rates affects developers and buyers alike. Mr. Kamran highlighted, “We see this as the opportune time to expand and maintain our property portfolio. Our first project, Empire Residence, was sold out within days of its launch last year. It reflects the strong investor confidence in our assets, underpinned by our professionalism and unwavering commitment.”
Empire Developments’ mission revolves around crafting mid-luxury, affordable developments that attach to international standards of design, construction, and lifestyle.
How Empire Developments Can Help Mid-Income Buyers in Dubai
Empire Developments is focused on developing affordable housing for mid-income buyers in Dubai. This means that the company’s projects will be priced below the average market price of real estate. And make them more accessible to this group of buyers.
Moreover, Empire Developments has a proven track record of delivering high-quality projects. The company has developed a number of successful projects in Dubai, including residential, commercial, and retail projects. This track record gives mid-income buyers confidence that Empire Developments will deliver quality housing that meets their needs.
Empire Developments has plans to develop a number of new projects in Dubai. These projects will be located in different parts of the emirate like Dubai Hills Estate. That gives mid-income buyers more options to choose from. The combination of Empire Developments’ focus on affordable housing. Moreover, its track record of delivering high-quality projects, and its plans for new projects in Dubai. Which makes the company a good option for mid-income buyers in Dubai.
How Empire Developments can help mid-income buyers in Dubai
Firstly, the company could offer financing options that make it easier for mid-income buyers to purchase a home.
Secondly, empire developer could provide homebuyer education programs to help mid-income buyers learn about the home-buying process.
Additionally, they could partner with other organizations to provide support services to mid-income buyers, such as financial counseling and job training.
Overall, this developer has the potential to make a positive impact on the lives of mid-income buyers in Dubai. The company’s focus on affordable housing, its track record of delivering high-quality projects, and its plans for new projects make it a good option for buying property in Dubai.
Why Dubai is a Great Place to Invest in Property
Dubai’s real estate market has proven itself as a strong and profitable investment landscape. The city’s location at the crossroads of the East and West, coupled with its tax-free environment, has attracted investors from around the world. Here are some reasons why Dubai is a great place to invest in property:
Stable Economy: The UAE has a very stable economy, which makes it a safe place to invest your money. The country has a low debt-to-GDP ratio and a strong foreign reserve, which helps to protect it from economic shocks.
Strong Property Market: The property market in Dubai is very strong, and prices are expected to continue to rise in the coming years. This is due to several factors, including the city’s rapid growth, its attractive tax-free schemes, and its popularity as a tourist destination.
Low-Interest Rates: The interest rates on mortgages loan in Dubai are relatively low, making them more affordable than mortgages in many other countries. This makes it easier for non-residents to get a mortgage loan and buy property in Dubai.
No Property Taxes: There are no property taxes in Dubai, which means that you won’t have to worry about paying taxes on your investment property. Over time, this could lead to substantial cost savings.
World-Class Infrastructure: Dubai has world-class infrastructure, including a modern transportation system, modern healthcare facilities, and excellent educational institutions. This makes it a great place to work, live and raise a family.
Environment: Dubai is a very business-friendly environment, which makes it an attractive place to invest. The government offers many incentives to businesses, such as tax breaks and free zones.
Immigration Policies: The UAE has pro-immigration policies, which make it easy for non-residents to obtain a visa and work permit. This makes it easier to manage your property investment from afar.
These are just some of the reasons why Dubai is a great place to invest in property. Read more about the Reasons to Invest In Dubai Real Estate.
What Does This Mean for the UAE Real Estate Market?
It is difficult to predict what the future holds for the UAE real estate market. However, the launch of Empire Developments is a positive outcome that could help to ensure that the market remains accessible to mid-income buyers.
The growing demand for affordable housing in Dubai
Firstly, the demand for affordable housing in Dubai is growing. This is due to a number of factors, including the inflow of expats, the rising cost of living, and the limited supply of affordable housing.
The impact of Empire Developments on the market
Moreover, the launch of Empire Developments could have a positive impact on the real estate market of the UAE. The company’s focus on affordable housing could help to meet the growing demand for this type of housing and could help to stabilize prices.
The future of the UAE real estate market
Lastly, the future of the UAE real estate market is uncertain. However, the launch of Empire Developments is a positive development that could help to ensure that the market remains accessible to mid-income buyers.
Here are some specific ways in which Empire Developments could impact the UAE real estate market:
- Empire developments could increase the supply of affordable housing in Dubai, which could help to lower prices.
- The company could attract new buyers to the market, which could boost demand.
- Moreover, they could create jobs in the construction and real estate industries, which could help to stimulate the economy.
Overall, the launch of Empire Developments is a positive development for the UAE real estate market. The company has the potential to help meet the growing demand for affordable housing, stabilize prices, and boost the economy.
However, Riseonic Realty is excited to see how Empire Developments will impact the UAE real estate market. We believe that the developer has the potential to make a positive impact on the lives of mid-income buyers in Dubai.