The UAE real estate sector is anticipated to reach a value of $0.71 trillion in 2024
Dubai, UAE – 15 February 2024: DHG Properties, a renowned Swiss real estate developer with a legacy of over three decades of excellence, proudly announces the off-plan sales launch for their debut UAE project, Helvetia Residences, currently under development in Jumeirah Village Circle (JVC). Projected to be worth over AED 600 million, it has already seen 15% of its units sold out on the first day. With a legacy rooted in delivering premium and affordable properties across Europe and internationally, DHG is set to contribute to Dubai’s already impressive off-plan real estate success; this segment accounted for approximately 60% of real estate transactions in 2023 and it is expected to continue growing in 2024 by 21% to reach a total value of $15.5 billion Q1.
Through its commitment to developing affordable properties, DHG Properties’ inaugural project in the emirate, Helvetia Residences, aligns with key UAE mandates such as the Dubai 2040 Urban Master Plan; an ambition spearheaded by HH Sheikh Mohammed that aims to make housing more affordable and meet incoming residential demand, while also striving to achieve other objectives. With Dubai’s population inching closer towards four million people and set to reach nearly eight million people by 2040, Helvetia Residences will effectively serve the needs of both end-users and investors.
Dubai witnessed an unprecedented surge in demand for off-plan real estate, recording 68,783 transactions in 2023 to reflect an impressive 59.4% increase from the previous year. This segment is contributing to the overall success of the UAE’s real estate market, which is projected to reach a staggering value of $0.71 trillion by 2024; the residential segment is leading this charge with a projected value of $0.41 trillion. Epitomizing the perfect blend of architectural elegance and functionality, Helvetia Residences will offer a range of living spaces via 430 units for sale and state-of-the-art amenities while providing a fresh touch of what modern real estate should look like.
Miloš Antić, Vice President and Member of the Board of Directors explained: “Helvetia Residences not only contributes to the city’s housing goals but also reflects our dedication to shaping the future of what urban living is in Dubai. As our first development in the UAE, this is only the start. We are committed to developing Dubai’s already beautiful skyline with an array of projects throughout the city in the coming years but it’s a one-step-at-a-time journey that we are kicking off in the heart of JVC. Investors can rest assured that they are securing a project of world-class quality while end-users will avail an elevated living experience that we have demonstrated on a global scale. Off-plan sales have officially launched and we look forward to handling inquiries as we shape the future of UAE real estate in unison with Dubai’s residents.”
Bringing its signature European touch via Helvetia Residences, DHG is strengthening its impact on Dubai’s residential segment by catering to the UAE’s diverse range of nationalities as well as bolstering its own portfolio. To date, DHG’s 30-year track record includes global feats such as the delivery of 300 total projects, the construction and development of 2.5 million square meters, and over 1000 residential developments in its pipeline. The world-class architecture of Helvetia Residences will once again demonstrate the firm’s expertise through first-rate quality and never-seen-before design, enabling new benchmarks to be established for what quality residential development should look like.
