Al Ghurair Properties is leading a real estate revival

As a major player in the real estate industry for more than 30 years Al Ghurair Properties has been leading the revival of the sector in the UAE in 2021.

The company reinforced its credentials as a “pioneering spirit” as it launched eight new residential developments in the first half of this year.

These were Manazil Al Muraqqabat 01, Bayt Al Rigga 01, Masaken Al Muraqqabat 07, Masaken Al Muteena 02, Masaken Al Warqa 01 and 02, along with Manazil Al Raffa 01 and Manazil Al Mankhool 01.

The new properties broadened an already generous Al Ghurair portfolio of in-demand addresses and are a viewed as a strong step in the right direction, both boosting the market while furthering the company’s philosophy of enhancing lives through its apartment buildings and integrated and sustainable communities.

Al Ghurair launched two standout properties with great geographical and lifestyle advantages for tenants: Manazil Al Mankhool 01 enables people to live in the bustling heart of Bur Dubai and, like the equally well-located Manazil Al Raffa 01, offers the convenience of being near to Sharaf DG station on the Dubai Metro network.

Both buildings bring together elements of luxurious lifestyle alongside all the amenities of an established urban location and vibrant Dubai hub for both work and leisure, while offering easy access to the rest of the city through close proximity to one of the world’s best rapid transport systems.

Manazil Al Mankhool 01, a short distance from BurJuman Centre, and Manazil Al Raffa 01 offer a total of 263 and 314 residential and retail units, respectively, in a pedestrian-friendly community.

Adding to an already enticing proposition, Al Ghurair Properties offers one month rent free, zero commission and free maintenance to tenants.

This spells a prime opportunity for people seeking to move into a smart, fresh accommodation choice packed with amenities and provided by a trusted name in Dubai real estate - all within a neighbourhood served by numerous shops and restaurants, as well as parks and schools.

The first six months of 2021 have shown encouraging signs of growth, higher occupancy rates and a general interest from the public about Al Ghurair Properties’ six new developments - Manazil Al Muraqqabat 01 (comprising 140 units), Bayt Al Rigga 01 (113 units), Masaken Al Muraqqabat 07 (65 units), Masaken Al Muteena 02 (108 units), Masaken Al Warqa 01 (238 units) and Masaken Al Warqa 02 (247 units).

Most of these properties have very high occupancy rates, owing to their location, amenities and the additional offers from Al Ghurair Properties, says the company.

And Al Ghurair Properties is poised to continue its stellar first half performance into the second half of 2021, with seven new apartment buildings slated to be launched by the end of the year.

These are Masaken Al Muraqqabat 01 (298 units), Masaken Al Qusais 01 (238 units), Bayt Al Muraqqabat 01 (22 units), Masaken Al Raffa 02 (78 units), Manazil Al Raffa 02 (70 units), Bayt Al Hamriya 01 (57 units), and Bayt Al Muraqqabat 03 (66 units).

Again, each address offers strong locational benefits with a focus on enhanced lifestyle and convenience - for both work and for downtime - alongside easy accessibility to the best of the rest of what Dubai has to offer its residents.

All the numbers so far in 2021 suggest a very positive trajectory of future growth for Al Ghurair Properties.

Up until the end of June this year, the company had in total 5,127 residential units in its portfolio.

And based on current figures, by the end of 2021 Al Ghurair Properties should have a total inventory of 6,686 units, with a target occupancy of 80 per cent.

This, in part, is the result of the company’s efforts during and after Covid-19 related restrictions were put in place, as it led the way towards recovery, it says.

The company’s chief executive officer, Sultan Al Ghurair, offers some insight into a tenant-centric outlook which has led to this success, when he adds: “Our main vision to is to enhance the lives of our customers at Al Ghurair Properties apartments by delivering integrated and sustainable communities that offer an enriching lifestyle within urban bounds.”