It has become an enticing opportunity due to a persuasive combination of factors, which include a thriving economy, buoyant real estate pricing, the tax-free environment in the UAE and a robust tourism sector.
There is also the fact that there are numerous top-tier developers present in the region, ready to deliver the dream homes of their clients.
Real estate investment
Due to these elements, Dubai has become a steadfast, secure and highly profitable destination for making real estate investments.
Gulf Islamic Investments Group (GII) is an alternative asset management company based in Dubai with the assets under management of about $3.5 billion.
Its real estate development arm is known as GRID Properties and it expects that the real estate market in Dubai would continue to expand.
The company has collaborated with global brands, such as Marriott Autograph and Elie Saab and its development portfolio is in excess of $930 million.
Operating from their headquarters in Dubai, they are renowned for their emphasis on global standards, integrity and quality in property development.
They announced that GRID Properties was working on a number of landmark events in this month and the next.
They also added that in the next month, they would launch their Dubai residential development portfolio.
GRID Properties CEO, ShreenGupta, said that they were planning on beginning the next stage of development of another project in the Royal Borough of Kensington and Chelsea.
Gupta said that this was an indication of that their clients would be able to move into those prestigious properties in one of the most iconic areas of London.
The CEO went on to say that they were expecting 2023 and the next year to be exciting for GRID Properties because they would continue with their portfolio development.
Gupta added that new investors and clients were fully aware of the compelling value proposition that is offered by GRID.
There are a total of 29 projects that make up the portfolio of the company worth $930 million, which includes 10 that have been completed.
There are 13 projects that are still in progress and 6 of them are expected to be complete in this year.
Gupta said that people showcase their way of living with critical elements, such as clothing choices, home décor, social interactions and daily routines.
Therefore, the goal of GRID Properties is to help people in enhancing these choices, not just in the UK, but also in the UAE.
The business model of the company is a hybrid one, as there are a mix of activities that make up its portfolio.
Not only does it include real estate development projects related to residential towers, but they also develop commercial spaces.
In fact, they enhance warehouse properties for private investors and realtors. They also develop customized mansions and villas for high-net-worth (HNW) individuals.