Following the impact of COVID-19 and the on-going pandemic, one real estate company in Dubai has thought of an innovative new way to make their service more competitive in the current market.
NEW RENOVATION APP TO BOOST SALES
Nomad Homes, a Dubai-based Proptech real estate company has launched a new wing to its business model, aimed at quickening sales in the current highly competitive market. The new service – called Nomad Renovation Concierge – offers to renovate homes before putting them on the market at a higher price, while promising to sell them quicker.
Nomad Homes, which first launched in 2019 is a digital-only real estate platform that uses PropTech to streamline and simplify the buying and renting process in the emirate.
Through its new division, the company covers the cost of the renovation. Typical changes to the properties they sell include upgrading amenities and providing new flooring.
THE YEAR AHEAD
Helen Chen, CEO of Nomad Homes, said: “We hope this new service will help speed up transactions in prime neighborhoods such as Downtown or JBR. We hear from buyers that they are looking for upgraded units in prime areas and hear from sellers that they want their homes to sell faster. Nomad Renovation Concierge is the solution to these problems. With our new service, sellers can sell faster while buyers find the like-new home they dreamed of. We’re very excited to provide innovative solutions to make real estate transactions easier and more efficient in Dubai."
According to Core Real Estate, an industry consultancy based in the UAE, both rent and sales prices are expected to remain under pressure in 2021, following the trends seen in recent years due to concerns such as oversupply in both the residential and commercial markets. According to the consultancy 2020 also marked an eight year low for new launches, a trend which it said is likely to continue in the year ahead.
EXPAND YOUR REAL ESTATE KNOWLEDGE
Subscribe to the Cityscape Intelligence newsletter here