PI to launch more mid-income projects in 2017

Properties Investment (PI), a subsidiary of Dubai Investments, revealed that it plans to launch more mixed-use, middle-income projects this year.

Dr Rashid Abdulla Al Hajj said that his company will be launching two, middle-income projects which the company will officially announce in the next couple of months.

“We are planning to launch two mixed-use, four- or five-storey building projects located near Green Community in Dubai,” Al Hajj revealed on Monday.

He said that in the last couple of years, local investors started to look for more affordable housing and better payment plans as GCC economies faced a slowdown.

Al Hajj said however that he does not think that Dubai’s property market is in oversupply and believes that high-quality developments continue to be in high-demand.

“Though people are more cautious, now is the best time to invest and buy property as the market will continue to improve in the next four years,” he added.

PI is currently developing the Green Community West Extension Phase 3 residential project near Dubai South, which is scheduled to be completed by the end of 2017.