After welcoming 14.36 million visitors in 2022, a 97% Year-over-Year (Y0Y) growth when compared to 7.28 million tourist arrivals in 2021, the UAE has maintained this red-hot momentum to kick off 2023. Dubai alone welcomed six million tourists in the first four months of this year and is now on pace to attract almost as many visitors as it did in the previous two years through the rest of 2023. ZāZEN Properties, a leading sustainable property developer in the UAE, explains how this tourism influx will enhance the country’s sustainable residential real estate sector.

Tourists have begun visiting the UAE at an increased rate and the emirate has grasped the attention of many of these passersby while incentivizing both investment and migration. Coupled with geo-political stability, sustainability, world-class infrastructure, and an opportunity-rich environment, the city is ensuring the long-term trust of international investors, businesses, and entrepreneurs.

The off-plan market in particular has been a high selling point for global investors, largely due to its affordability; it has continued exhibiting great resilience in 2023, with the segment accounting for 49% of total sales transactions in May. ZāZEN Properties’ latest development located in Al Furjan, ZāZEN Gardens, is enabling investors access to cost-friendly, high-quality real estate with several units having been snatched up by foreign buyers and new Dubai residents. The project was launched in January of this year and sold out within five months, showcasing the strength and trust of the brand and the demand for sustainable residential developments.

Madhav Dhar, the co-founder and COO of ZāZEN Properties, stated: “As the population grows, the need for additional housing, especially within the mid-income segment is evident. However, it is imperative that developers emphasize sustainable developments to not only accommodate the influx of new savvy expatriates but also to adhere to green mandates such as UAE Net Zero 2050 and the Dubai 2040 Urban Masterplan. With the country striving to meet these objectives, the concept of sustainable living is garnering greater attention and COP 28 is a great opportunity to double down on the importance of this – with the responsibility to nurture this agenda being on key-decision makers and governmental stakeholders.”

As the government continues to place a high priority on efforts to lessen the country’s carbon footprint while catering to the shift in demand, environmentally friendly living in Dubai is becoming a reality. In line with initiatives such as COP28 and the country’s commitment to UAE Net Zero 2050, companies like ZāZEN Properties have created a product that allows end-users and investors to purchase apartments that are not only world-class but also sustainability-friendly. The homegrown brand has launched Dubai’s first LEED Gold-certified and Well-Being integrated development while providing buyers high quality living at affordable prices. ZāZEN Gardens, which is located in Al Furjan, has sold out and construction is over 35% complete.