This article was originally published in propertyfinder Trends Report 2017 – click here to read online (Adobe Flash required) or click here to download PDF instead. To request a printed Report, please email us on email@example.com
Defining an ideal place to call home is always evolving and now the lines between luxury and functionality are in the bounds of a blur – leading to the conceptualisation of smart residential projects that let owners indulge in comforts that turn up the dial on their quality of living while omitting an eye- watering financial burden.
Luxury living continues to dominate the real estate sector in Dubai, yet now a rising demand for homes that answer the need of a new customer segment known as millennials is ushering in.
According to recent findings, 44% of millennial expats are keen on purchasing a home in the UAE within the next three years. Identifying the unique needs of this young, tech-savvy and connected new crop of individuals forms the first step in defining and designing concepts that best complement the urbanites fluid lifestyles.
AKOYA Imagine, a cluster of homes surrounded by the lush greens and fairways of its international golf course is a prime example of this latest demand. Set at the heart of the AKOYA Oxygen master development, AKOYA Imagine offers a range of modern and stylish villas aimed at young couples and families, whose residential needs have outgrown traditional home-dwellers.
Now that millennials are shaping the property market, it’s crucial to consider that as Dubai’s real estate market evolves and approaches maturity, there is an even greater need for developers to integrate their strategies to make plans for projects that cut through all customer segments. Having identified the long-term impact of such a strategy, DAMAC Properties has committed itself to bringing to market a wide mix of products that appeal to its customers as attractive and lucrative investment opportunities.
From less than AED 1 million to tens of millions – the range is broad, which essentially translates to a comprehensive product offering that accommodates everyone.
The new-age home owner continues to cause the shift towards emerging real estate needs and fresh expectations. Real estate developers need to stay on top of their game to keep this new wave of customers effectively and constantly engaged through innovative offerings that best resonate with their idea of a home and inspired living.
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Senior Vice President, DAMAC Properties