Dubai: The leading sustainable property developer in the UAE, ZāZEN Properties states that Dubai’s real estate market will maintain its strong momentum on the back of the country’s forecasted non-oil growth of nearly 4 percent.
ZāZEN Gardens in Al Furjan, the first LEED Gold & Well-Being Integrated development in the region, is the company’s newest project and recently went on sale off-plan. Since its debut in mid-December 2022, 25 percent of the units have already been sold off-plan, and the building is successfully underway, demonstrating the brand’s strength and Dubai’s off-plan market.
After seeing a 4.8 percent growth rate in 2022, the UAE’s non-oil sector is now projected to expand by 3.9 percent in 2023. Although oil production is stagnating in the Middle East, proactive measures set in place by the government have equipped the UAE to sustain itself away from a petroleum-driven economy. The coming year is poised to reinforce that its efforts have been, and will continue to be fruitful.
Mr. Madhav Dhar, co-founder, and COO of ZāZEN Properties observed that, “Real estate and construction are set to maintain an upward trajectory, especially in Dubai. The UAE’s industrial and manufacturing-focused strategies, along with the UAE Tourism strategy, will foster the growth of new opportunities, leading to a requirement for fresh talent and capabilities, creating jobs, and enhancing the country as a truly global hub. This will sustain the country’s real estate growth and, as the employment landscape works towards reaching pre-pandemic levels once again, additional housing will be needed to accommodate existing and new residents alike. Furthermore, the UAE Golden Visa rules and residency by real estate investment schemes will continue to open the doors for more people to invest and live in Dubai.”
“With regards to the UAE’s sustainability strategy, real estate developers will increasingly play a leading role in positioning the country on a global scale. As the UAE steps into its next phase of growth, sustainable development within the sector will be an important strategy in helping it achieve its goals. ZāZEN Properties’ latest project, ZāZEN Gardens in Al Furjan will be the first LEED Gold certified & Well-Being Integrated development, and we are proud to be leading the way by reducing nearly 470 metric tons of CO2 annually, all while creating world-class homes,” the co-founder added.