Could you tell us about Tilal Al Ghaf development and its key highlights?
Designed in line with Majid Al Futtaim Communities’ commitment to sustainable design and living, Tilal Al Ghaf offers ample opportunities for residents and guests to connect with nature and engage in an active outdoor lifestyle across the three million square metre destination.
Conveniently located in the heart of new Dubai, our flagship destination offers premium resort-style living centred around a stunning 10-hectare recreational lagoon bordered by white sandy beaches.
With over 365,000 square metres of community parks and over 75,000 square metres of lush green landscaped spaces, our neighbourhoods are designed to be walkable by means of an interconnected network of walking trails, 15km of cycling and jogging tracks set amongst lush green landscaping.
Each neighbourhood features plenty of playgrounds, communal pools for both adults and children, outdoor gyms, and inspiring public spaces crafted to promote social connection.
What demand have you noticed for residential properties from investors?
Investors trust us to deliver innovative and customer-centric solutions that are not only in line with market demand but serve to shape the market trajectory. One such example is our advanced customisation proposition, which directly addresses the growing desire amongst investors and owner-occupiers to curate their living environments in line with their unique lifestyle needs.
Who are primarily investing in real estate at Tilal Al Ghaf?
Across all our destinations in the region, our buyers comprise a balanced mix of local and international investors and homeowners. This is due to our approach in crafting authentic destinations that put humans first. Our destinations go way beyond the traditional real estate proposition.
Investors trust us to deliver customer-centric solutions that are not only in line with market demand but serve to shape the market trajectory.
What kind of investments is needed to buy a property at Tilal Al Ghaf? Please share some details on the expected returns at this development?
Tilal Al Ghaf has something for everyone, whatever their stage of life and lifestyle needs. From three and four-bedroom townhouses in the Elan neighbourhood, suitable for young families, to the expansive waterfront mansions of Alaya Beach, Tilal Al Ghaf delivers an exceptional experience.
With Dubai’s property market going from strength to strength, investors can expect sustainable returns at Tilal Al Ghaf over the long term. Villa properties in particular represent a solid investment in the current climate and this has been aptly demonstrated by the increase in villa values of 14 per cent seen last year, with the sub-prime segment increasing by 16.9 per cent since the first quarter of 2020.
Could you share some details on retail, lifestyle and dining options in this community?
Our sustainable communities include everything that residents need for an enhanced lifestyle .
The fact that Majid Al Futtaim Communities is very much a part of the broader Majid Al Futtaim ecosystem is a real benefit for investors and homeowners, as our ability to deploy MAF’s exceptional lifestyle proposition powers the delivery of unique leisure, entertainment, dining, and hospitality experiences across our destinations. In addition, we offer loyalty programmes with a wealth of value-added benefits across the Majid Al Futtaim network, along with exclusive offers.
Finally, like most other sectors, the last two years have not been easy for the property market. What is your outlook for the residential property market in Dubai in 2022?
With Dubai’s GDP predicted to expand to five per cent this year, the outlook for the residential property market remains buoyant. Combined with the introduction of a series of groundbreaking government initiatives to drive economic growth and foster an increasingly investor-friendly environment, along with the positive effect brought about by Expo 2020 Dubai, recovery is on a solid forward track.
In 2021, a sharp spike in residential transaction values of 71 per cent was recorded by DLD, the highest in over a decade. In particular, villas are increasingly in demand as the consumer trend for well-being gathers pace. Overall, we can expect to see the market to continue in an upward trajectory, driven by low supply in prime and super-prime areas, record low interest rates, and a surge in overseas investment anchored by FDI-friendly regulatory reforms and the enduring appeal of the quality of life offered by Dubai. ■