“As a brokerage, we can save clients time and effort by comparing the most suitable and competitive mortgages on the market, with no hidden fees or commissions. We can also support our customers throughout the process, from initial request to delivery.
“The mortgages we offer will be primarily focused on UAE residents, but we will also have the ability to offer home loans to international investors who want to buy property in the UAE. “
Nexus ‘strategic move comes at a time when the United Arab Emirates’ economic recovery from the pandemic is starting to gain traction. According to the latest forecast from the UAE central bank, the UAE economy is expected to grow 2.1% in 2021 and 4.2% in 2022.
Highlighting this sentiment, business confidence in Dubai peaked in seven years leading up to Expo 2020, according to the Dubai Chamber of Commerce and Industry and the Dubai Economic Department (DED). The emirate’s economic growth is expected to reach 3.1% in 2021 and 3.4% the following year.
“The proof is in the UAE’s residential real estate market, which is showing strong and sustainable growth. The number and value of real estate and mortgage transactions in the first half of this year have collectively exceeded similar periods over the past decade, ”added Khanna.
Dubai and Abu Dhabi are the two most active real estate markets in the United Arab Emirates. Biannual 2021 research data from a set of leading real estate consulting firms, including Chestertons, found that a total of 27,373 deals were completed in Dubai in the first half of 2021, worth AED62 billion.
This represents an increase of 34% and 55% in volume compared to H2 2020. Average transaction values also increased by 8.5% for secondary / ready properties and by 15% for off-plan properties between H2 2020 and H1 2021.
Abu Dhabi followed suit. After a relatively strong first quarter of 2021, major developers reported notable demand for off-plan sales for projects launched in the second quarter, with many developments selling in a matter of days, illustrating renewed confidence in the residential market. Demand for ready-made villas and those for resale increased average annual prices by 2.2%.
“While the strategic direction by definition and nature is long term, this is also an opportune and exciting time to launch our mortgage brokerage. Even though the Dubai and Abu Dhabi real estate markets are the most active, we expect strong demand from potential homeowners across the UAE, ”Khanna added.
About the Nexus Group
Based in Dubai, Nexus Group was established in 2006 after a takeover by management of the distribution division of Zurich International Life, which had been operating in the region since 1989. Nexus now has offices in Abu Dhabi, Kuwait, Bahrain and in Qatar.
The company employs more than 350 fully qualified professional consultants and 150 support staff, offering a wide range of products licensed from regulated providers, such as life insurance, savings plans, corporate pensions and coverage. group medical insurance, as well as various categories of commercial insurance, including employee benefits.
For media information on the Nexus Group, please contact:
Phone. : +971 4 365 2711
Email: [email protected]
Office 3208, Indigo Icon Tower
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© Press release 2021