DUBAI – Wednesday 12 December 2018 – On 5 December 2018 Afridi & Angell, in collaboration with Better Homes, held a breakfast seminar and panel discussion at the Dubai Capital Club on risk, reward and the outlook of off-plan versus secondary property in Dubai in 2019.
Speakers and panelists included Mr Shahram Safai, partner and head of the real estate practice at Afridi & Angell, Mr Sultan Al Akraf, Senior Director Registration Department at the Dubai Land Department, Mr Matthew Cooke, Associate Partner of Residential Transactional Services at Knight Frank in Dubai, and Mr Richard Waind, Director of Brokerage at Better Homes.
The first half of the seminar included a presentation by Shahram Safai on recent legal changes and trends within the Dubai property sector. He gave an overview of legal rights and protections available to purchasers buying off-plan and secondary property; developers’ liabilities and legal obligations; and recent changes and government incentives in the Dubai property sector. Richard Waind followed Shahram with a brief presentation on Dubai property market trends including off-plan versus secondary property sales, the pros and cons of off-plan property, and Dubai residential unit sales.
The second half of the seminar was a panel discussion moderated by Shahram Safai with Sultan Al Akraf, Matthew Cooke and Richard Waind as panelists. The panel discussed trends and benefits of off-plan versus secondary property in Dubai, how the upcoming supply of off-plan will affect the off-plan and resale property markets, and panelists gave their views on and outlook for the Dubai real estate market post 2018.
The seminar was attended by over 40 clients including investors, bankers, accountants, property managers and consultants, developers, real estate brokers, business owners and managing directors, and mortgage specialists.