Real estate agency to property development – A growing trend
As the UAE real estate market continues to thrive with exciting new projects, we are seeing an interesting trend develop in this booming market. Today, it’s not just property developers adding exciting projects to their portfolios. Many real estate agencies are picking up the baton and heading into the property development arena. Real estate agency to property development is becoming a viable evolution.
But what factors are driving this growing trend and enticing agencies into making the expansion? We spoke to AQUA Properties, a respected real estate agency in Dubai making the ambitious move into property development. We get their insight into the progression from agency to developer and look at their exciting upcoming real estate project, The Central Downtown.
What’s fuelling the trend?
Real estate agencies are typically known for assisting their clientele in selling, leasing or buying property. As an integral part of the industry, they also have the expertise to understand the real estate market and the needs of most property seekers.
This is where the expansion from real estate agency to property developer ties in. Their extensive understanding of the market and the needs of property seekers, i.e., what they look for in a home, helps these agencies develop real estate projects packed full of potential. Factors such as amenities, design, location, timeliness of handover, etc., are all aspects that a quality real estate agency will understand through their experience working with their clientele.
This knowledge and exceptional customer service can help real estate agencies smoothly expand into property development.
AQUA Properties and their latest project, The Central Downtown
AQUA Properties is an agency making waves in the industry by expanding into the property development market today. This award-winning real estate agency has over 20 years of experience in the Dubai property market and recently launched its first development, The Central Downtown in Arjan, Dubailand.
AQUA Properties’ experience in the market has given them a thorough understanding of property seekers’ needs. This extensive knowledge and their stellar customer service promise a memorable customer journey.
Let’s now hear from AQUA Properties about their experience in the market and how The Central Downtown is geared to stand out from the crowd in a dynamic real estate sector teeming with property options.
Q&A with AQUA Properties
1. Tell us about Aqua Properties’ journey so far and the vision behind this move into property development?
AQUA Properties began its journey in 2005, swiftly rising as a premier real estate firm known for innovation and excellence. Our vision has always been centred around addressing the scarcity of quality homes and trusted developers in Dubai. This led us to acquire prime lands and craft vibrant communities with top-notch residences and flexible payment options.
2. What was the biggest motivator behind the evolution from agency to property developer?
The pivotal moment for our growth from agency to developer came after the 2008-2009 recession. We seized the opportunity to fill in the demand for a reliable developer committed to timely delivery and superior quality in the market as the economy recovered post-2010.
3. A key feature of The Central Downtown is the impressive lifestyle amenities, especially those championing nature, serenity and well-being. What was the vision behind these amenities, and can we expect them to become a common feature of all developments by Aqua Properties?
The impressive lifestyle amenities at The Central Downtown were designed to create a holistic living experience. These amenities were carefully curated to provide residents with opportunities to connect with nature, relax and rejuvenate amidst the hustle and bustle of urban life. This commitment to holistic living is integral to our ethos, and you can indeed anticipate similar features in all our future developments.
4. Tell us about Aqua Properties’ client journey. What does their experience look like when buying a unit in The Central Downtown?
At Aqua Properties, the client journey is vital to us. From compliant processes aligned with RERA and Dubai laws to a range of unit options offering flexible payments and interior selections, we prioritise customer satisfaction. Our online availability of documents like RFs, receipts, SPA, and SOA ensures transparency, while show units provide a glimpse into their future property.
5. How do Aqua Properties plan on ensuring their developments stand out from the competition amidst the UAE’s dynamic real estate sector?
Our differentiation strategy amidst the dynamic real estate sector hinges on our holistic approach. As both a developer and contractor (through our in-house construction arm, ATCON Constructions L.L.C), we maintain quality and deliver projects on time, setting us apart from the competition.
6. What market needs will Aqua Properties address with their new developments?
Aqua Properties addresses diverse market needs by focusing on mid to high-range developments strategically located for convenience and value. Emphasising location as a key consideration, we cater to buyers seeking not just homes but lifestyle-enhancing communities.
7. In the future, could we see Aqua Properties’ developments in other emirates of the UAE?
As we continue to grow and thrive, expanding our footprint beyond Dubai to other emirates is certainly on the horizon. Aqua Properties remains committed to establishing noteworthy developments wherever opportunities arise across the UAE.
Seeing AQUA Properties’ journey from a real estate agency to property development is exciting. The Central Downtown has all the elements of a perfect home, offering relaxation at your doorstep. With the UAE’s property market attracting property seekers from across the world, we will be seeing more developments in the country that reflect the needs of the people. And there’s a growing chance these developments will come onto the market directly from real estate agencies having expanded to developers. An intriguing future lies ahead!
Frequently Asked Questions
How can I find real estate agencies in the UAE?
Head to Bayut and select Find My Agent from the top menu. This offers a directory of all the real estate agencies and agents registered with Bayut.
What is an off-plan property?
A property under construction or yet to be constructed is called an off-plan property. Buying off-plan property has several attractive advantages, such as flexible payment plans, higher rental yields and the availability of various projects.
How can I stay updated about the latest off-plan projects in Dubai?
We have multiple resources that can help you stay updated about the off-plane market in Dubai, such as our Hot New Property Launches series. You can also check out our list of top off-plan projects in Dubai.
Featured image credit: Aqua Properties
