Hamptons MENA Reports Growth in January Sales on Dubai Property

On 20 February online business magazine Gulf Business reported that the Dubai realtor Hamptons MENAhad recorded a 19 percent growth in its January sales, with the result due to positive sentiment related to Dubai property. The company reported improved sales in established and typically popular communities in the emirate, notably in downtown Dubai and Dubai Marina.
Hamptons Reports 19 Percent January Growth
Hamptons, a wholly owned subsidiary of city-based real estate developer Emaar Properties (DFM:EMAAR), recorded a growth in property sales transactions in January 2013 of some 19 percentover the same month in 2012. Gulf Business quoted Niraj Masand, Head of Operations of Hamptons MENA, as saying that the Dubai property sector had opened on a strong note in 2013. Mr Masand added that in addition to demand for upcoming properties, the market was also witnessing demand for end-user homes, with that interest putting price levels "on an upward trend".
Established Communities Prevailing
In terms of location, the real estate agency said that it recorded robust sales in established communities which generally dominate the city's property landscape. Among the more notable areas are Jumeirah Lake Towers, Jumeirah Beach Residence, Downtown Dubai, Emirates Living, Arabian Ranches and Dubai Marina. Hamptons also observed growing demand in the New Dubai area.
The company reported on research conducted among its clientele, with the feedback showing that customers preferred new property and rentals close to leisure and entertainment amenities and educational institutions. Accessibility was another factor, enhanced by proximity to the Metro.
Continuing Trend
The January results strengthen earlier signs of positive growth in the property sector, with Hamptons expecting the trend to continue in the coming months, especially given the city-state's growth in its core sectors of tourism and retail. As noted in a recent Bloomberg article, Dubai is returning to large projects on the back of five percent growth in the emirate's economy in 2012, the best in five years. Late last year, Dubai announced that plans to develop the world's largest mall, no less than 100 hotels and public gardens larger than London's Hyde Park.
Hamptons' parent company, Emaar Properties, recently reported growing interest among Indian investors, with hundreds of potential customers visiting the company's sales events in New Delhi and Mumbai.

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