COVID-19 Real Estate Impact; Buyers seek villas with Bigger Spaces

Nakheel Properties has witnessed a surge in demand for villas with bigger indoor and outdoor spaces

By Rahul Vaimal, Associate Editor
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UAE based Nakheel Properties has witnessed a surge in demand for villas, with sales worth $60.7 million happening in the last three months as consumers look for extra indoor and outdoor living space to adapt to the ‘new normal’ created by COVID-19 pandemic.

Nakheel has sold 70 villas with a sales value of $46.2 million since March in family villas at Nad Al Sheba. Ready villas at Al Furjan are also proving to be popular, with $14.4 million worth of sales across 20 villas in the same period. Nearly 70 percent of villas delivered at Nad Al Sheba, and 95 percent of the 400-plus villas at the most recently concluded phase at Al Furjan, are now occupied.

“The robust sales highlight investor trust in Dubai real estate and the Nakheel brand. With a growing number of end-users among our customers, it’s clear that buyers are committing long term to the real estate sector with a home to call their own.”
Aqil Kazim, CCO – Nakheel

“Remote working, homeschooling and earlier restrictions on movement have resulted in people spending most of their time at home – with many rethinking their living arrangements and realizing that they could do with more space to work and play. This, combined with competitive deals and our new virtual sales tool, has led to strong demand for family villas with extra rooms and private gardens at some of our most prestigious communities.”