Customer Conversions Grow Threefold As Dubai Property Market Rebounds After Ceasefire

2026-04-19 11:51:47

(MENAFN- Khaleej Times) The UAE property market is expected to recover quickly once regional tensions subside, with buyer demand already rebounding after the announcement of a ceasefire, according to Francis Alfred, managing director of Sobha Realty.

In an interview with Khaleej Times, Alfred said the developer witnessed a sharp rise in customer conversions, which increased threefold immediately after the ceasefire announcement compared with the period before the easing of tensions.

Recommended For You Trump says Iran violated ceasefire, threatens strikes on power plant if deal fails

“People who were waiting on the sidelines are beginning to return. International buyers are also coming back,” he said, adding that long-term investors in Dubai remain focused on the emirate's future prospects rather than short-term geopolitical events.

Speaking about Sobha Realty's first major project in Abu Dhabi, Alfred said the company – which has developed 13 master communities in Dubai – aims to replicate that success in the capital.

“We have gained deep insights into what customers need and how to deliver high-quality products. We are taking that expertise into Abu Dhabi,” Alfred said.

He added that the Abu Dhabi development would not be the company's only project in the capital, signalling plans for further expansion.

Alfred said the developer would continue to focus on product quality rather than offering deep discounts.

“We believe a quality product has intrinsic value. We are not going to discount our projects in a way that reduces that value,” he said.

Instead, the company may offer limited incentives such as support with registration costs, while maintaining pricing discipline.

Alfred said Sobha Realty remains financially strong, supported by a large land bank, infrastructure assets and a multi-year revenue backlog from previous sales.

He added that construction funding for projects is largely supported through escrow accounts and customer collections, reducing the need for additional borrowing.

“The land is already paid for, and most construction is funded through escrow accounts. We do not foresee any serious requirement for additional funding at this stage,” he said.

Alfred said the current environment is likely to widen the gap between established developers and smaller players with weaker financial foundations.

He said buyers are increasingly choosing companies with a proven delivery record, strong reputations and the ability to maintain quality standards.

“Customers know that trusted developers will deliver the same quality product without compromise,” he said.

Comparing the current situation with the Covid-19 pandemic, Alfred said today's challenges are regional rather than global, meaning the impact on the UAE market should be more limited.

He expects the market to return quickly to its previous growth trajectory, rather than witnessing a sharp correction or speculative rally.

“The UAE property market is now far more mature and resilient. It is not jumping up and down because of short-term events,” he said.