Staff Report
Dubai, UAE
DHG Properties, a renowned Swiss real estate developer, has sold 15 percent of the units in its Dh600 million residential project, Helvetia Residence, on the first day of the sales launch. Featuring 430 homes along with various amenities, the debut development is in Jumeriah Village Circle (JVC).
DHG’s debut project in the emirate, Helvetia Residences, aligns with key UAE mandates such as the Dubai 20240 Urban Master Plan, an ambition spearheaded by HH Sheikh Mohammed that aims to make housing more affordable and meet incoming residential demand, while also striving to achieve other objectives. With Dubai’s population inching closer towards four million people and set to reach nearly eight million people by 2040, Helvetia Residences will effectively serve the needs of both end-users and investors.
Milos Antic, Vice President and Member of the Board of Directors, said, “Helvetia Residences not only contributes to the city’s housing goals but also reflects our dedication to shaping the future of what urban living is in Dubai. As our first development in the UAE, this is only the start. We are committed to developing Dubai’s already beautiful skyline with an array of projects throughout the city in the coming years but it’s a one-step-at-a-time journey that we are kicking off in the heart of JVC. Investors can rest assured that they are securing a project of world-class quality while end-users will avail an elevated living experience that we have demonstrated on a global scale. Off-plan sales have officially launched and we look forward to handling inquiries as we shape the future of UAE real estate in unison with Dubai’s residents.”
DHG is set to contribute to Dubai’s off-plan real estate success. The off-plan segment accounted for approximately 60 percent of real estate transactions in 2023 and is expected to continue growing in 2024 by 21 percent to reach a total value of US$15.5 billion (Dh 56.93 billion) in the first quarter.
Dubai witnessed an unprecedented surge in demand for off-plan real estate, recording 68,783 transactions in 2023 to reflect an impressive 59.4 percent increase from the previous year. This segment is contributing to the overall success of the UAE’s real estate market, which is projected to reach a staggering value of US$710 billion (Dh2.6 trillion) by 2024; the residential segment is leading this charge with a projected value of US$410 billion (Dh1.5 trillion).
Bringing its signature European touch via Helvetia Residences, DHG is strengthening its impact on Dubai’s residential segment by catering to the UAE’s diverse range of nationalities as well as bolstering its own portfolio. To date, DHG’s 30-year track record includes global feats such as the delivery of 300 total projects, the construction and development of 2.5 million square metres, and over 1000 residential developments in its pipeline.
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Also read: Dubai prime market leads globally as capital value jumps 17.4% in 2023
