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Following the dramatic increase in residential property values in 2013, market stabilisation in 2014 leads to growing investment in renovation Dubai, United Arab Emirates; 23 June 2014: The announcement of Dubai’s successful Expo 2020 bid in November 2013 capped a year of extraordinary growth in Dubai’s real estate market. According to the latest Cluttons Middle East Residential Market Outlook, Dubai recorded its strongest growth in five years with average values increasing by 51%. However, with the announcement made, Cluttons’ research suggests the market is now experiencing a return to a more moderate pace of growth. This increased stability means that homeowners are more inclined to invest in their own properties for the long term, and in so doing invest in home renovation. Arteco Ceramics, the leading UAE-based supplier of high quality interior finishes and home building materials, has witnessed an increase in home renovation demand. Homeowners are seeking to personalise and update their property through renovation. Mohamed El Shamy, founder and director of Arteco Ceramics LLC, commented: “We are seeing more families approach us to carry out a wide range of home renovation requirements, and for updating kitchens and bathrooms. People are typically looking for a more durable and higher quality tile for their floors or kitchen counters; the same is true for the bathroom. Another quick-fix that is very popular is updating sanitary ware in the house. This could be the showers, the toilets, or sinks and faucets in the kitchen and bathroom. Depending on the location and the type of villa, home owners can expect to see a 10%-30% increase in the value of a villa after key renovations have taken place.” Mr. El Shamy added: “As more families look to buy villas and plan to stay in Dubai in the longer term and with freehold property aging, we expect to see an increase in the demand for our home building materials as people begin to undertake larger scale renovations. We currently have clients that come to us for outdoor cladding and clay roofing tiles in addition to investing in their gardens with proper outdoor garden architecture. We not only supply the product, but we will also help design their dream, and undertake the fit-out if they require.” Arteco Ceramics is exclusive supplier of some of the world’s top names in ceramic, mosaic, semi-precious natural stone material, and clay roofing tiles in addition to offering sanitary ware and other home interior products.
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