Place an ad UAE Expert Insights: Anticipated Property Supply Over The Next 5 Years Story by Nadine El Dada Posted on Oct. 26, 2015 Who is in the spotlight today? dubizzle interviews Zarah Evans, Managing Partner of Exclusive Links Real Estate Brokers on: Anticipated Property Supply Over The Next 5 Years. Having held a senior management position in Sales and Marketing with Qantas Airways in Australia for 12 years, Zarah relocated to Dubai in 1997. After enjoying an international life in Asia, Australia, Papua New Guinea and the UK, Zarah’s first focus was to settle her young family into the UAE. Zarah joined a leading Real Estate and Relocation RM as General Manager in 2000. During the next 7 years she traveled the world promoting the UAE as the new relocation destination, opened 6 further offices throughout the Middle East and GCC and took the company from being a small to a medium business enterprise. In 2007 Zarah was appointed as the Managing Partner at Links Gulf Real Estate which saw her lead the company to the industry peak of 2008 and ultimately through the downturn in the market which followed. In 2011 Links Gulf Real Estate merged with Exclusive Real Estate and since then, as Managing Partner, Zarah has continued to spearhead the company as a market leader. Today Zarah is a respected professional in the Real Estate sector and is recognized for her dedication to Dubai and Exclusive Links Real Estate and in particular to the individuals she is proud to call her team. Managing with hardwork and passion is her drive in this competitive and challenging industry. Q: Dubai South formerly known as Dubai World Central is now a hot topic. They say the first village, which will encompass 6,000 homes is due to be completed in 2019 – a year before the EXPO. What are your thoughts on this mega-project? Zarah: “I was actually out there yesterday afternoon having a drive around. I was trying to familiarize myself with the locality of Dubai South in terms of the airport and the Expo site itself. Interestingly, the residential area is a lot smaller in relation to the airport although they are saying it’s a mega project and that all these homes are going to be handed over. It’s going to bring a new influx; it will bring 2002 back when they introduced the new in house law which is allowing expats to buy in Dubai. I think it will bring on a new wave of transactions, a new wave of excitement and a new wave of freehold.” Q: Do you see this as one of the premium projects? Zarah: “It is a premium project. There certainly is a lot that has to be done. I mean they are taking a risk at handing something over so close to such a prime date on the calendar, but there are other mega projects that are obviously sitting in line with it. Dubailand along with Dubai South will be more of your affordable sort of low to mid income housing. The other two mega projects that I’m putting out there are: Sheikh Mohammed Bin Zayed City and Cultural Village, but those I see as sort of medium to high end income housing.Those are the mega projects coming into play. Dubailand still has a long way to go in terms of development.There is a good mixture from Al Barari and Arabian Ranches through to Dubailand which also covers areas like Sports City which is your lower end apartments starting at 500,000 AED. You’ve got a good mix there, but Dubai South is going to be affordable.The location is a little bit out, but 5 years ago people thought that Dubai Waterfront or the back of Dubai Arabian Ranches was a long way out and you look at the back of Arabian Ranches now and you’re going into Reem, you’re going out to Akoya. This sprawl that is going on will continue to go on whilst they are trying to provide housing for the numbers that they say are going to come in. Forget about the Expo, consider the amount of people that are coming in for Industrial City that is also located there.Consider the amount of people that are coming for the airport alone. It is being deemed the biggest airport in the world and Dubai South is right next to it. Let’s think about Mirdiff, let’s think about Garhoud: all of those areas that are chock-a-block with expat livers. It’s going to be no different to what Dubai South is going to provide. It’s part of a mega plot project; a project in itself that is part of a bigger picture.” Q: Do you think 6,000 units will actually be handed over? Zarah: “I think it will be handed over in that particular development, maybe not all of them in some of the other projects that I mentioned, because of the spotlight that is on Dubai South. The reason why the spotlight is on there is because of expats. That is why it is riding on the coattails of Expo there are already a couple of developers such as MAG that have got in there. It has been a slow sail, but that’s fine they’ve got in quickly and yes, I do see all of the mega developments going out there. There is also a master developer that still needs to be announced, they haven’t announced whether it is going to be Emaar, Nakheel or Dubai Properties. I don’t see it being Emaar because they are mainly concentrating in the downtown area, it could potentially be Nakheel. I was driving through yesterday coming back from that area looking at the Discovery Gardens, you know that is what Dubai needs: Dubai needs places like Discovery Gardens before they lose sight of what affordability is. Dubai needs to start providing. Dubai South has got all the strong metro and transport links which they have to have for Expo so it’s a bit more of a wider sprawl really.” Q: Would you personally invest in a residential unit within this project? Zarah: “I would, I recently invested in Dubai Marina and that is quite an old development so would I? Yes. I don’t think it comes down to a long-term investment, it would be more of a short-term investment. I’d like to see a little bit more about what’s going to be happening out there. I think it’s certainly going to become part of the new Dubai, but you know new Dubai just keeps on shifting with the trends.Yes, I would invest, but not long-term.” Q: What are your thoughts on the holiday home segment? Zarah: ”Again, Dubai needs more of it along with affordable housing. There are a lot of developers now considering hotel apartments as well which is also a good investment. There was a restriction put in place that you need to have a separate tourism license. As a real estate agent I don’t have that on my license and therefore I don’t offer short-term rents. It’s not very close on my radar to be honest. Is there a market for it? Of course there is a market for it. Dubai Marina, Palm Jumeirah and all of those areas. You know what we don’t know about and what we are still questioning is how Dubai South is going to be after Expo. It’s one of those locations where you question how is it going to be when the life dies down a little bit? Are people going to want to stay out there on a short-term five day rent? Are people who come over to Dubai for their bachelor parties going to choose a villa in Palm Jumeirah where they are close to the nightlife and everything? Although we are promised a great infrastructure, is that infrastructure going to be more Expo related rather than a long-term lifestyle, recreational base? I’m not sure. I believe in Dubai South for a purpose and like I said it’s riding on the coattail; that is what is going to platform it. That is what’s going to make sure people have to deliver. I mean holiday homes anywhere in Dubai will do well. The vision for tourism here is immense and that’s only going to grow.” Q: With an expected 25 million visitors for the Expo – do you think buying a property and registering it as a holiday home will make for a good investment? Zarah: “Yes, depending on where. The investment that I bought in Dubai Marina is exactly for that purpose so I’ll wait until that investment has picked up. I will be looking to sell it just before Expo or I will look at potentially putting in a short-term rent or holding on to it for long- term. I think yes, with Expo just around the corner numbers will be coming in and jobs will be created. Let’s hope that Dubai can support it thereafter. It wouldn’t necessarily be in that area. Certainly Dubai Marina, JLT, you know all of those are key areas.” Q: With the new holiday law by DTCM – Dubai Tourism and Commerce Marketing asking agents to register holiday homes, do you think the government anticipates an increase in units being put out in the holiday home market? Zarah: “They have to as well as the policies, procedures and platforms that should be put in place.