Saudi-based Artar aims Dubai property market makeover

Emirates Business

One of Saudi Arabia’s most prominent real estate development companies believes its first venture in the UAE can help mould the changing face of Dubai residential property over the next few years.
Riyadh-based ARTAR Real Estate Development says a big focus on genuine liveability and a payment plan requiring only a 30% investment prior to completion has given its Mada Residences project in Downtown Dubai major appeal for today’s demanding investors and end users.
The company believes the Dubai property market needs a shake-up to make sure that homes meet the needs of buyers whose expectations have been heightened by a changing economic climate. “Real estate has to adapt to keep up with the changing demands of investors and end users,” said ARTAR’s Chief Executive, Sulaiman Abdulrahman Al Rashid.
“They’ve become far more astute in the challenging economic times that we face now compared with the boom era of a few years ago. They have the right to ask why they should effectively pay for homes to be built, which is what has been happening with so many payment plans.
Added Al Rashid: “More and more developers in this market realise that has to change so that most of the cost of a home is paid out after completion. Our payment plan is designed specifically to help investors and end users with their cash flow, and
to build more confidence and trust in us as a developer that is dedicated to delivering quality homes on time.”
“At the same time, developers must work to ensure that
liveability becomes more than just a real estate buzzword, and that the homes they’re building are genuinely designed to give people a better level of space and comfort.”
Progressive developers agree that liveable homes should generally be open-plan and designed to maximise space, are easy to move around in, easy to use and allow people of all ages and abilities to live in, or visit, comfortably.