Dubai tenants turn to ownership, boosting demand for affordable luxury homes

Symbolic Developments, the real estate arm of Speedex Group, has launched its fourth residential project, Symbolic Altus, in Liwan, valued at Dh150 million

As rental prices continue to climb across Dubai, a growing number of long-term tenants are making the leap to homeownership — fueling demand in the city’s mid-market, affordable luxury segment. Developers are responding with projects that blend design, functionality, and value, particularly in emerging communities like Liwan, Arjan, and Dubai South.

“Dubai isn’t one market — it’s a collection of micro-markets,” said Murtaza Moiz, Vice Chairman of Symbolic Developments. “While some areas are maturing, others like Liwan are still growing and attracting both end-users and investors. That’s where we see the most potential.”

Symbolic Developments, the real estate arm of Speedex Group, has launched its fourth residential project, Symbolic Altus, in Liwan. Valued at Dh150 million, the development offers 108 fully furnished apartments — including 1 BHK Elite and 2.5 BHK Panorama units — starting at Dh999,000. The project is scheduled for handover in Q3 2027 and is designed around the concept of ‘elevated living’, with all amenities located on the rooftop.

The launch follows the success of Symbolic Alpha, the developer’s first project in Liwan, which saw over 30 per cent appreciation in a short span and higher-than-average rental yields. “We delivered Alpha 14 months ahead of schedule,” Moiz noted. “That track record is helping us build trust in these new communities.”

Dubai’s residential market has seen a notable shift in buyer behavior. According to CBRE, apartment prices rose 20.5 per cent year-on-year as of mid-2025, while average rents increased 22.1 per cent, prompting many residents to consider ownership as a more stable, long-term option. Affordable luxury developments — those priced under Dh2 million but offering premium finishes and amenities — are increasingly seen as smart investments.

Symbolic Altus aims to meet that demand with a low-density, design-led approach. The building is located just 500 meters from the upcoming Dubai Metro Blue Line, enhancing its connectivity to Academic City and Downtown Dubai.

“There are some micro markets which are already developed, where we may see some kind of latency. But otherwise, the communities like Liwan, Arjan, Dubai South for that matter, they are the new and upcoming micro markets. So, we see a lot of potential and a lot of interest from not only the end users, but also from the investors,” said Mustafa Moiz, Managing Director at Speedex Group. 

“We’re not just building homes — we’re building communities,” Murtaza Moiz said. “The plot is two minutes from Liwan Park, which already has a senior citizen corner, soccer field, and kids’ play zones. We’ve added rooftop communal spaces so families across generations can spend time together.”

Symbolic Developments has delivered around 250 residential units to date and is focused on quality over volume. “We don’t measure success in millions invested,” Moiz said. “We measure it in families served and homes delivered on time.”

With more projects in the pipeline for early next year, the developer is doubling down on its mid-market strategy. “There’s a vacuum in this segment,” Moiz added. “People are moving from older Dubai to newer areas, looking for luxury at an affordable price — and we’re here to fill that gap.”

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