Top 5 trends that will transform UAE’s real estate sector in post-COVID-19 era

Top 5 trends that will transform UAE’s real estate sector in post-COVID-19 era

Lootah real estate development CEO, Saleh Abdallah Lootah discovered the top 5 trends that will transform UAE’s real estate sector in the post-COVID-19 era, he provides an analysis of the real estate sectors as UAE adapts with COVID-19 and regain to the new normal.

 

Lootah focused on enhancing the quality of life through the application of integrated safety, sanitation, and automation principles. He identifies the top five trends for coping with the epidemic according to their importance.

 

1- Focus on safety sanitation and automation.

2- Preference for lower density property.

3- Enhanced property standards.

4- Mixed-use community, development.

5- Digital adaption.

 

And he clarified what he means with each of them in details according to his analysis to the real estate market.

 

1- Focus on safety sanitation and automation

“We are heading towards a new direction in terms of market demand, which will zero in on the core principle of health and safety in the face of the new normal. The UAE’s top rank position in the liveability index will pay off in many sectors, particularly in the real estate – helping us mount a successful comeback, ”Lootah said, adding that this rebound will be harnessed by the UAE’s remarkable global feat as the safest nation in the world.

 

He also congratulates Abu Dhabi and Dubai for being the top two most livable cities, respectively in the Arab world, according to the latest Global Liveability Index issued by The Economist Intelligence Unit last March 2020, this foremost trend will shore up the local real property sector’s path to fast-track recovery. That will pave the way for the rise of the next generation of property designs that will automate the principles of safety and sanitation.

2- Preference for lower density property.

Lootah said that there will be a great demand for real estate and low-density sites, as most potential investors, landlords, and tenants alike will choose more living spaces in light of the adaptation to the new normal. Whereas coronavirus risk increase in high-density properties, the higher the density of occupants is, the higher the risk of infecting others.

 

“The industry will be rethinking about the design of the space in order to maintain new distancing standards,” he said.

 

3- Enhanced property standards.

The building layout will see a major revamp by allocating extra spaces and regions that will settle various aspects of safety to add more value to potential investors and tenants. this will let the investors to evaluate building stipulations and provide better infrastructure such as through retrofitting. 

 

“In the new normal, people will still have the mindset to observe physical distancing as a means to ensure safety against any viruses or diseases. This will be the guiding principle of many investors in choosing a property,” Lootah explained.

 

4- Mixed-use community, development.

Now people are more prudent about health and safety standards, as a result of the pandemic, mixed-use developments, which will increase the demand for the locations that blend the commercial, industrial and residential activities. This kind of property will be more desirable in the new normal.

 

The company has been championing this concept through Ewan Residences, the company’s flagship mixed-use gated community in Dubai Investments Park, which was launched in 2006. “We have been listening to the people who buy and live in our communities and we remain focused on the improvement of their lives and well-being.”  

 

5- Digital adaption.

The concept of virtual reality and digital marketing solutions was pressed on even prior to the down of COVID-19, which enabled the property buyers to experience visit without a physical visit.

 

Lootah is actively involved in harnessing its IT infrastructures to strengthen its virtual reality capabilities, and it forecasts that most UAE developers will follow suit in employing virtual showrooms and touchless sensor technology, such as voice-activated elevators, hands-free light switches and mobile phone-controlled room entries.

 

“The COVID-19 pandemic has reinforced the need for the private sector, including the real estate, to align with the UAE’s vision of digital transformation. The sector will hold fast to it, drastically transforming business interactions. Through the adoption of artificial intelligence and smart technology, like what we did in our customer relationship management (CRM) platform and enterprise resource planning (ERP) systems, developers can ensure that they are always within the reach of their clients,” explained Lootah.