Patheon Development: Luxury affordable units lead Dubai's property market recovery

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Kalpesh Kinariwala, founder and chairman of Patheon Development
Kalpesh Kinariwala, founder and chairman of Patheon Development

Published: Tue 27 Oct 2020, 12:51 PM

Last updated: Tue 27 Oct 2020, 2:56 PM

Dubai - Following the easing of lockdown restrictions, the Dubai real estate industry has over the last two months, experienced an increase in demand for luxury affordable units.

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Well-known for providing luxury property solutions at affordable prices, leading UAE developer, Patheon Developments reports that the market is favourable for buyers looking to set up home in Dubai, one of the world's most desired locations.

As buyers rush to secure a bargain, there has been significant growth in sales activity with residential values dropping to levels not seen since the global economic crisis.

Kalpesh Kinariwala, founder and chairman of Patheon Development, said: "We have seen a steady increase in sales over the last two months, coinciding with the lifting of lockdown restrictions. We're extremely pleased with the rise in demand which has led to us planning on launching new projects in the coming months, delivering similar products to meet the needs of the same market segment."

With a commitment to delivering luxury homes at affordable prices, Pantheon Developments continues to respond to the current needs of the market, as Kinariwala explained: "Regardless of price, it is important to never compromise on quality or under-deliver on customer expectations. The regulations of the Dubai Land Department have helped to stabilise the market which has enabled it to recover faster from the economic downturn brought about the pandemic."

Pantheon Development's vision is to fill the gap in the affordable luxury segment in Dubai's real estate market, and the company is committed to supporting the market by developing luxury and quality projects. Its latest project, Elysee in JVC, is to be handed over next month, reflecting Pantheon Development's great track record for delivering projects according to schedule. 

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