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Al Mazaya underlines importance of investment in Dubai's medium housing sector

Al Mazaya Holding has launched a new batch of its Queue Point and Q-Line projects in Dubai Land as part of the company's end-of-year promotion campaign.
Eng Ibrahim Al Soqabi, Group CEO of Al Mazaya Holding Company, said: "Since Al Mazaya's inception, the company has been keen to diversify its business portfolio in a manner that ensures the continuity and sustainability of its operations. At the same time, the company seeks to avoid and mitigate risk factors whilst ensuring efficient geographical diversification for its projects across the GCC region and Turkey, with a number of international markets in Europe and North America now being considered."
"Through its Q-branded projects, Al Mazaya has succeeded in developing an integrated residential compound that provides a modern and practical lifestyle that meets the needs of various segments of society."
He said: "In response to the growing demand for ready-to-move-in units, the company has launched residential apartments as part of Queue Point's third phase and Q-Line's second phase, all of which are ready for handover. The flats correspond to various segments, including end-users and investors."
Al Mazaya has completed construction of over 3,600 residential units, or 82 per cent of the total 4,400 housing units, within its Dubai Land development projects. The initiative sprawls over an area of two million square feet and a total building area of more than five million square feet spread across 48 buildings.
Khaled Abdullatif, Chief Executive Officer of Al Mazaya Real Estate - Free Zone, said: "Queue Point and Q-Line have become a smart choice for those seeking medium housing units, not only in Dubai, but throughout the region. They have proved to be a real estate success that meets needs of large segments of society for permanent residence in the heart of Dubai. Across the two projects, Al Mazaya boosts real investment opportunities, ratcheting the annual percentage yield up to nine per cent."
The Queue Point and Q-Line projects introduce added value on account of their strategic location in Dubai Land at the intersection of Mohamed bin Zayed Road and Al Ain Road.
The strategic location of the two projects is also one of the crucial factors attracting tenants seeking competitive prices. Moreover, these suit those looking for homes that spare them the trouble of commuting and driving long hours from other cities to and from work.
Abdullatif stressed that current market conditions entail the development of smart options for residential units to the needs of different segments of society. He added that developers have to diversify their projects in order to meet the different needs of middle and high-income categories, and provide projects ranging from medium-to-luxury housing. -business@khaleejtimes.com