Press Release: ‘Hidden gem’ Tilal Al Ghaf sees surge in savvy cash buyers

haus & haus Real Estate says the luxurious, eco-conscious community is set to shake up the Dubai property market.

haus & haus Real Estate – one of Dubai’s leading property groups – is reporting a surge of cash-rich buyers snapping up all they can from the 6,500 properties at Tilal Al Ghaf, the flagship (and first) residential community of developer Majid Al Futtaim, known for iconic Dubai commercial properties such as Mall of the Emirates.

haus & haus says it has seen a flurry of multi-million dirhams cash transactions in Tilal Al Ghaf’s Harmony (being handed over in December 2023), Aura, and Elan areas – with several more deals on the brink of closing in October.

Spanning 3 million sq. m the development has started handing over with more expected handover dates staggered over the coming months/years. The gated community is ideally located on Hessa Street (D61) with multiple entrances and exits and includes a 70,000 sq. m lagoon, 400 metres of open beachfront, cycling tracks, and an array of parks, pools, shops, and other lifestyle amenities. It also boasts impressive green credentials with recycling facilities and a focus on sustainability in the design.

Described by Dubai property insiders as something of an emerging ‘hidden gem,’ Tilal Al Ghaf represents a huge new opportunity for investors and end users looking now and in the near future, says the company’s leadership.

“This community helps bridge the gap between supply and demand and is going to shake up the market by offering resort-style waterfront living at an attractive price. Plus, in a market where it’s so hard to find vacant properties, these homes are brand new and empty; there is no need to wait for tenants to leave, which is a problem in key expat communities across Dubai,” commented Charlie Bannan, Sales Director at haus & haus.

He added: “Aside from the Elan townhouses you can only really buy cash there now because they aren’t fully complete, but once they are, owners are seeing a huge up-side on their investment because the homes will be open to mortgage buyers combined with the market increasing across the board. This place really is red hot – first hand we have seen people who bought when the development originally launched back in 2020 are now making upwards of 80% profit on their initial capital invested.”

Interestingly, Bannan added that Tilal Al Ghaf is attracting a new era of landlords open to multiple cheques and short-term rentals.

Whispers of Majid Al Futtaim launching their second residential community are already surfacing, possibly due to the success Tilal Al Ghaf has seen in its infancy of handover.