Prosper Real Estate is a prominent real estate consultancy and brokerage firm in Dubai, that offers an extensive array of consultancy and brokerage services under one roof for real estate developers, investors, and end-users with the support of our closely knitted team of professionals.
Along with our commitment to ensuring high standards of business ethics and customer service, we have developed strategies that work beyond that of a real estate brokerage, to offer bespoke investment capability and ensure the highest investment growth for customers in terms of capital appreciation and assets.
We strive to assist home seekers in finding their dream space by considering their lifestyle and requirements. Our team work hand-in-hand with our partners, with an aim to understand and identify our clients' needs and objectives and provide them with personalized options that meet their expectations of living standards.
Our dedicated team at Prosper works as a reliable source of information on property market trends and current market prices, to assist our customers to make well-informed decisions. We ensure in-depth market research to provide you with the best deal for your investment.
Unique business approach
Prosper Real Estate emphasises on working with investors over the long term, setting it apart from others in the industry, which may prioritise short-term gains or one-off transactions. By taking a more holistic approach, Prosper Real Estate is likely better able to build trust and rapport with its clients, which can lead to repeat business and positive referrals.
Secondly, the company’s commitment to conducting full research and recommending the best projects suggests that it places a high value on expertise and knowledge.
This can be particularly important in a competitive market like the UAE, where investors and end users alike may be inundated with options and struggling to make informed decisions. By providing a comprehensive assessment of the market and recommending specific projects, Prosper Real Estate may be able to set itself apart from other firms that offer more generic advice.
Thirdly, the company’s focus on providing full consultancy services for end users, investors, and boutique developers suggests that it has a broad expertise in the real estate sector beyond simply buying and selling properties.
By preparing a full case study about the market and developing strategic planning, including business strategy, marketing strategy, and sales strategy, the company is likely better able to anticipate and respond to changes in the market and provide more personalized service to its clients.
Major projects and challenges
We have been involved in a wide range of deals and projects in recent months, working with developers of all sizes — from boutique developers to master developers — and providing services to investors and end-users alike.
Our portfolio of recent projects includes a mix of single-unit deals as well as bulk deals, where we work with developers to secure a large number of units for our clients. Additionally, we offer consultancy services to both developers and investors, providing expert advice and market insights to help them make informed decisions.
While executing these projects, our team has faced several challenges. One of the most significant challenges we encounter is balancing the needs and requirements of our clients with the realities of the market.
This requires us to stay abreast of the latest market trends and changes, as well as maintaining close relationships with developers and other industry stakeholders.
Trends to watch
There are two major trends that could impact the property sales in 2023:
1. Increased demand for waterfront properties: This trend is particularly evident in coastal cities where people are drawn to the serene and relaxing atmosphere that water bodies such as the sea, rivers, or lakes impart.
2. Focus on high-quality finishing and luxury amenities: Developers have started placing more emphasis on the quality of finishing and amenities such as high-end kitchens, state-of-the-art home entertainment systems, luxurious spas and private fitness centres. This trend is particularly relevant in luxury properties, where buyers are willing to pay a premium for added luxury and convenience.
Addresses to watch
Jumeirah Village Circle has overtaken Business Bay in off- plan sales in Q1 in 2023, with a total sales volume of 2,396, at a value of Dh1.8 billion, as rent rates are lower than the market average here.
Business Bay and Dubai Marina are neck and neck for ready property transactions. Business Bay is the close winner in terms of sales volume, but The Dubai Marina overtook Business Bay’s total sales value by over Dh1 billion (Reference: https://dxbinteract.com/news/q1-2023-dubai-real-estate-market-report). While Dubai Marina offers a luxurious lifestyle, a vast range of amenities, and excellent social infrastructure, Business bay has spacious units and you are living a short drive away from Downtown Dubai and all its marvellous amenities, including The Dubai Mall, Souk Al Bahar, Dubai Opera and the ever-trendy Downtown Dubai restaurants.
Market evolution
The Covid-19 pandemic has accelerated the trend towards more flexible work arrangements, with an increasing number of people looking for homes that offer a better work-life balance. This has led to a rise in demand for properties with outdoor spaces, home offices and other amenities that cater to remote work. Due to its strategic location, world-class infrastructure, and attractive tax regime and now Golden visa rule, it's going to be a very attractive place to invest in the coming years too. Some of the most notable on going projects in the city include the Dubai Creek Harbour, the Dubai Hills Estate and the Dubai South development. With the launching of World's largest airport, Dubai south is expected to see a high rise in development in the coming years.
Investor pointers
For first-time real estate investors in the UAE looking to make a purely investment-based purchase, there are several key considerations to keep in mind:
Location: The location of the property is a crucial factor to consider, as it can significantly impact both the property's resale value and potential rental income. Highly sought-after areas such as Mohamed Bin Rashid City can be particularly attractive for investors due to their high demand and potential for growth.
Building quality: The quality of the building itself can also be a critical factor to consider. Investors should look for properties constructed by reputable developers with a proven track record of delivering high-quality buildings that can maintain their value over time.
Amenities and views: Properties that offer desirable amenities such as gyms, pools, and green spaces, as well as those with impressive views, can also be particularly attractive to potential tenants or buyers.
Competitive pricing: Investors should also pay attention to the price of the property relative to the market, as well as the potential for capital appreciation. A property that is priced competitively relative to its location and features may have a higher potential for long-term gains.
Return on investment: Lastly, investors should consider the potential return on investment. This can be influenced by factors such as rental yields, potential capital appreciation, and the costs associated with buying and maintaining the property.
For example, in Mohammed Bin Rashid City, Prosper Real Estate was able to create a successful sales strategy by selecting the right projects and advising clients on their investment decisions. By buying more than Dh100 million worth of inventory and reselling it within a six-month period, clients were able to achieve a profit of approximately 30 per cent on their investments.
As a leader in the real estate sector, Prosper Real Estate is keenly aware of the major challenges that lie ahead in the coming months and years. One of the most significant challenges facing the market is the shortage of inventory in ready projects, as well as the delayed handover dates of newly launched projects. This has resulted in a highly competitive environment, making it challenging for investors and end-users to find suitable properties.
Being future ready
To overcome this challenge, Prosper Real Estate has taken a proactive approach by having a large inventory of exclusive apartments that are either ready or near completion. This strategy allows us to offer our clients a wide range of options, making it easier for them to find a property that meets their needs.
In addition to our ready inventory, we also work with boutique developers to identify projects that will be ready for occupancy within the next one to two years. This long-term planning allows us to provide our clients with a diverse selection of off-plan properties that they can invest in with confidence.
Overall, we believe that our proactive approach to tackling the inventory shortage and delayed handover dates will position us well to meet the challenges of the real estate market in the coming months and years. We will continue to adapt and evolve our strategies to meet the changing needs of our clients and ensure that we remain a leader in the real estate industry.
