UAE developers 'adopt new strategies to attract investors'

Developers in the United Arab Emirates (UAE) are adopting new strategies in a bid to attract more investors during the economic downturn, it has been suggested.

According to an article in the Gulf News, purchasers now want to see evidence that projects are progressing rather than selecting properties from brochures.

With developers witnessing a fall in off-plan sales, many are now adopting new approaches to attract buyers such as "linking them with banks and lenders" or offering discounts for paying in cash.

Shyam Sunder, general manager of marketing at ETA Star, told the news source that "retention is more important than acquisition" at the moment and the only way to ensure confidence in the market is to "build and show".

The recent dip in the UAE property market could benefit investors in the long term, particularly as Dubai recently announced plans to bid for the 2020 Olympic Games and World Expo.