Sunday 4, September 2016

Dubai – MENA Herald: More than two-thirds of GCC residents say that the United Arab Emirates is their first choice for living based on the quality and design aesthetics of their residences, according to a new survey commissioned by Ellington Properties, Dubai’s home-grown design-led boutique property development company.

Over 66 percent chose Dubai for the design quality of the residential projects with 58 percent stating they would invest in villas or townhouses as their first preference for property investment in the emirate.

The other cities that ranked in order of preference for living, based on the parameters of design quality and interior design, are Abu Dhabi, Muscat, Doha, Jeddah, Riyadh, Kuwait City, Manama and Dammam.

The survey by YouGov is part of an ongoing study by Ellington Properties to quantify the perceptions of real estate in the GCC. The survey covered over 2,700 GCC residents who expressed their views on key elements such as design, value associated with homes and convenience.

Over 74 percent of the respondents, drawn in from across the GCC, consider Dubai to have the best designed homes with high-quality architecture and interior space. Abu Dhabi, Doha, Riyadh and Jeddah are in the top five rankings followed by Kuwait City, Dammam and Muscat.

Robert Booth, Managing Director, Ellington Properties, said: “As a customer-focused organisation with an eye for detail, we believe that understanding investor perceptions is crucial in delivering a better product that meets and exceeds their expectations. This also ensures complete transparency in all our operations, adding to investor confidence. The findings of the survey underline the value that investors attach to design excellence and build quality.”

The study reported that the main reasons for consumers to invest in properties within the GCC are rental income and real estate value (48 percent each) followed by location (43 percent). Further, investors closely evaluate developer credentials, property size and in-built white goods in making their investment decision.

“The study highlights that potential investors strike a tasteful balance between classic elegance and cutting-edge design. They prefer large residential spaces and appreciate design from first principles to last detail – an ethos that we reinforce in our projects,” said Joseph Thomas, Managing Director, Ellington Properties.

While the focus of the study was to understand the preferences of the GCC population for real estate offerings based on the aesthetics and design quality of the homes, Ellington also covered other aspects of investor behaviour.

Many new innovative housing projects have already been launched in Dubai to meet the increasing demand from savvy investors for higher return on investments.

Booth added: “We have 14 developments in Dubai, and we are looking to add over 2,200 residential units including apartments, townhouses and villas. Dubai will continue to attract investment in real estate, and Ellington will contribute to that growth through our highly desired yet affordably priced residential choices.”