|Arabian Ranches Newsletter – January 2015
The effect of the usually quiet Holiday Season, which is synonym of vacation for most of the city’s residents who enjoy Christmas and New Year’s celebrations in their home country, was doubled by the oil price drop hitting oil-exporting countries as witnessed by the property market activity. However developers announced new projects; Omniyat Holdings launched Anwa, located in Dubai Maritime City and Danube Properties unveiled Glitz, located in Studio City this project has been designed for mid-income end-users. Currently 14,000 towers are under construction in the emirate of Dubai, according to Khalid Mohammed Al Mulla, Director General of Buildings Department at Dubai Municipality.
This quarter Arabian Ranches remains among the most sought-after villa communities by buyers; the highest number of sale transactions was recorded in Arabian Ranches, The Springs & The Meadows and Jumeirah Park, according to Dubai Land Department.
The attractiveness of Arabian Ranches rely on the range of villa types available offering different styles, finishing and size options. With plenty of nature surroundings the district offers privacy and relaxing atmosphere to its dwellers, as well as the convenient location of the community and the completion of its infrastructures allows residents to easily and quickly reach Dubai and Abu Dhabi.
To facilitate potential buyers’ decision when selecting an area where to invest Mashreq Bank launched its property price index in December. This online index provides home seekers with an immediate property value according to the size and community. Potential buyers should however be cautioned about the price disclosed as it is an approximation of the value, which calculation does not take in consideration the property features such as quality, layout, location, villa type, possibility to upgrade, etc.