5 Things We Are Looking Forward to in 2021
Dubai welcomed the new year in grand fashion, with 23 fireworks displays spread out across the city. It was a grand spectacle that was designed to bring about a cheerful end to what had been a turbulent year, but it was also symbolic of the resilience that the city, and the nation, has displayed during these times. And it was a spectacular way to begin what is expected to be a very exciting year. Here are the five things we are most keenly anticipating in 2021.
The era of the super prime residence
We have pegged 2021 as the ‘Year of the Penthouse’, when some of the most prestigious apartment projects across the city will be coming to fruition. We have The Residences Dorchester Collection located alongside the Dubai Canal, which features an incredible contemporary aesthetic and will benefit from the services of the famed Dorchester Collection hospitality brand. One at Palm Jumeirah, home of Dubai’s most expensive penthouse, is expected to be ready this year and will also be serviced by The Dorchester Collection. Following on from the opening of the stunning W Hotel on Palm Jumeirah last year, the W Residences will be handing over early in the year as well. Most exciting of all, however, is the Royal Atlantis Resort & Residences, which is billed to be the first true super prime residential project in Dubai. From the design to the location to a fantastic array of resort-style amenities, this will be unlike any other project in the city or the region and we cannot wait to see it completed.
Restaurants for every appetite
Image Credit: Dinner by Heston, London
Alongside many of these new residences, we will also see an influx of new restaurants, many of them helmed by award-winning and globally recognised chefs. The Royal Atlantis will be the cream of the crop, with restaurants from British master chef Heston Blumenthal, Spanish culinary genius Jose Andres, plus renowned Iranian-American celebrity chef and food writer Ariana Bundy. There are other mouth-watering new options to look out for, including Carna by legendary Italian butcher Dario Cecchini, Phileas Fogg’s at the Address Montgomerie golf club and Japanese-South American fusion at SushiSamba.
New government initiatives
In the past two years, Dubai has announced sweeping changes and reforms to its legislature and its immigration policies. We have seen the introduction of long-term visas for investors and residents fulfilling certain eligibility criteria, ‘golden visas’ that offer the equivalent of permanent residency, retiree visas, and a host of changes that include 100% foreign ownership of mainland companies, legal cohabitation between unmarried couples, and legal purchase of alcohol without a special license. One key legal change announced late last year was a change in inheritance laws and division of assets after divorce. And of course, there was the biggest news of all - the Abraham Accord, a peace treaty between the UAE and Israel that will see increased cooperation between both nations. As we step into a new year and a new decade, we can undoubtedly expect to see some new and exciting initiatives announced this year, and will keep our eyes and ears open for the latest happenings.
Image Credit: Expo 2020 Dubai
What was expected to be the biggest event of 2020 was sadly delayed as a result of the spreading coronavirus pandemic. However, with the swift and decisive action taken by the UAE government in the pandemic’s early days, the country was able to bring the situation under control easily and is now one of the safest places in the world to live. It is also a thriving commercial and recreational hub at a time when many countries around the world are going back into lockdown. Expo 2020 has been rescheduled for October and will easily be the highlight of the year’s major events. For now, anticipation for the expo is relatively muted as Dubai takes stock from the events of 2020, but in a few short months the hype will start to build up once again, leading up to what will surely be an incredible event.
New highs in the real estate market
One of the most unexpected by-products of the coronavirus pandemic was the surge for demand in luxury real estate, which covers everything from affordable luxury communities such as Arabian Ranches and Town Square to the higher end neighbourhoods like Emirates Hills and Palm Jumeirah. With a greater need for social distancing and personal security, families elected to move to larger homes in private communities. As a company, we had what was easily our best year in terms of transactions and revenue, as well as rapid growth within the company and recognition across multiple categories at the PropertyFinder Real Estate Awards, including a win in the Best Quality Broker category for our Managing Director and luxury sales specialist Andrew Cummings. As the city continues its economic recovery, newly announced government initiatives start going into effect and the nationwide vaccine rollout gains momentum, we can expect to see even higher levels of growth over the course of this year. If you are looking to buy or rent a new home, then please get in touch. Our Private Client Advisory team cannot wait to do business with you in 2021.