Al Majid Property achieves 85% occupancy in first quarter
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Al Majid Property Co., an affiliate of Juma Al Majid Holding Group, unveiled that their UAE projects hit 85% occupancy rate during Q1 of 2021, signaling development and growth in the real estate market in the UAE, especially in Dubai and Sharjah despite the pandemic.
Chief Property Officer Ayman Ali Okasha revealed that the performance indicators of Al Majid Property Co. witnessed a remarkable growth during Q1 of 2021 that exceeded the original projections. Al Majid Property Co. projects are constantly evolving, keeping pace with the UAE’S real estate market. He said, “Our policies are responsive to the tenants’ needs, which are unquestionably seen during the pandemic.”
He added that the pioneering development and modernization of the company is inspired by the broad experience that exceeds 50 years in the UAE real estate sector.
Ayman also stated that the occupancy rate of the residential properties in the first quarter of this year hit 85% of the total units available for rent which are over 5,000 units, pointing out that the company’s target is to exceed 95% occupancy rate of its residential units by the end of 2021.