• 40% of ZāZEN Gardens has been sold out and more than 10% of construction is complete

Dubai, UAE: ZāZEN Properties, a leading sustainable property developer in the UAE, cites that the momentum of the country’s overall real estate sector has rolled over into the new year. More than 9,800 sales transactions were registered in January to convincingly surpass the 5,739 total in the same month last year, reflecting a 128.5% year-on-year (YoY) increase in volume.

The UAE’s off-plan real sector recorded the strongest performance last month with 5,000 off-plan transactions and a 90% YoY increase from January of last year (2022). Furthermore, the segment also increased in value by upwards of 130%, climbing from AED 5.3 billion in January 2022 to AED 12.1 billion in 2023. This was the highest volume and value for off-plan transactions for January over the past decade.

A strong showing for the UAE’s off-plan segment to ring in 2023 can be attributed to the country’s uptick in construction activity; a notable increase was observed toward the tail-end of 2022 as construction activity rose from 37% in Q3 to 49% in Q4. This promising trajectory is reportedly on pace to sustain with an average annual growth rate of more than 3% from now until 2026.

Moreover, growing demand for UAE real estate has seen developers increasingly announce projects; the total number of developments in the pipeline grew to 27,000 units in 2022 and these are expected to be delivered over the coming years. Additionally, 38,000 residential units were delivered in Dubai last year to push the emirate’s total supply to 680,000, while 6,000 units were delivered in Abu Dhabi to bring the capital’s residential stock to 279,000 units.

Madhav Dhar, co-founder, and COO of ZāZEN Properties said: “The standout performance of the residential sector, and off-plan in specific, is a great example of the UAE’s global dominance. Dubai’s attractive pricing, strategic geographic location, visa reforms, and safe-haven status are among several reasons for the growing population and further, why developers are building projects and why investors are purchasing them. The influx of new buyers are more conscious of their investment choices, and off-plan provides more attractive benefits, such as payment installations and high rental yields, guaranteeing more interest in this sector.”

ZāZEN Properties’ flagship project, ZāZEN One, amassed great success after its launch last year. The homegrown brand is now upping the bar with its latest development, ZāZEN Gardens,  a LEED Gold & Well-Being Integrated development that is the first of its kind in the UAE. This project is reimagining the meaning of sustainable real estate and just over 40% of units have been sold since off-plan sales launched in mid-December 2022. Handover is set for April 2024 and more than 10% of the project’s construction has been completed since it first began in October 2022.

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About ZāZEN Gardens

Sales enquiries for ZāZEN Gardens can be routed through ZāZEN Properties’ primary sales partner, One Broker Group (OBG) - a leading real estate brokerage company offering professional, transparent, and personalised services in the UAE. For more information about ZāZEN Properties or its new project, ZāZEN Gardens, please call or WhatsApp the team at +971 50 170 9376.

About ZāZEN Properties:

Launched in 2018, ZāZEN Properties is building unique sustainable residential developments in established communities of Dubai, catering to the mid-market segment consumer and providing a ‘community within a building.’

ZāZEN Properties’ flagship development, ZāZEN One, located in JVT, was delivered in January 2022 and has been repeatedly nominated for its design and sustainability efforts, recently receiving the Sustainable Real Estate Project of the Year Award at the 2022 Sustainability Innovation Awards and the Best Residential Development Award at the International Property Awards 2022 held in the UK. As a result, units at ZāZEN One sold out within 6 months with residents occupying and enjoying the vast number of amenities.

ZāZEN Properties continues to push the boundaries between design, sustainability, affordability, and community living, with the ultimate goal of helping people in Dubai live better. Construction for the sustainable developer’s newest project is underway; off-plan sales for ZāZEN Gardens have launched, and a show unit and sales centre are available for viewing at the project site.

For all media inquiries contact:
Bianca Riley | Aaron Illathu | Karim Geadah | Jinaan Hameer | Dushane Solomon
Atteline
E-mail: zazen@atteline.com