ALGEDRA wanted to be established based on dreams, motives and abundance of knowledge and experience coming from an Interior design background but it was never easy at first as there were many hurdles and challenges which pretty much everyone faces when it comes to investing your time and money in Dubai looking for a better future.
ALGEDRA group of companies wanted to step back in 2013 and make a name of themselves in the world of highly qualified interior design companies and specialize in providing Turnkey projects solutions gaining a massive support from the people around in Dubai looking for the best of the best.
ALGEDRA group today operates in the UAE and the international market, the highly qualified experienced and multi-national team is expected to grow further in line with planned expansion
The group had an extensive track record in the successful delivery small, medium and large scale projects across the region
For many years, it has built a strong and loyal client base across both the public and private sectors
It focuses on Full Interior Design services ( design – build – FF&E - project management )
ALGEDRA group has become synonymous with the dynamic growth evidenced by its commitment to develop its projects.
We believe the main reason of the company success was due to some of the very interesting facts back in 2013, the year in which Algedra came into being, and the year where UAE was blooming in real estate and interior design market.
The year 2013 saw the recovery of all sectors of the Dubai Real Estate market (residential, retail, hotel, industrial and offices). The residential, retail, hotel and industrial sectors witnessed strong and relatively broad-based growth
Let's have a quick look at the following major points suggesting 2013 was a great time for investing into interior design firm business
- The residential market ended 2013 on a strong note, with prices increasing 22% Y-o-Y on average and rents improving 17% Y-o-Y. The recovery has been broad based and evident in prime as well as secondary and more affordable locations. While further growth in rents and prices is anticipated, 2014 is expected to see a slowdown in the unsustainable levels of growth seen in 2013.
- The hotel sector had a very positive year with record tourist arrivals. The market registered remarkable occupancy rates (and high Average Daily Rates Securing the Expo 2020 bid is expected to give an additional boost to the sector and lead to further hotel developments in 2014 and beyond.
- The industrial market registered solid growth in 2013 with a number of infrastructure projects benefiting the sector especially in south of Dubai which we knew would happen in coming years
- Dubai Land Department has launched a new online portal, eMart, for the auction, sale, and rental of properties. The first on-line auction within this platform secured the sale of 17 residential and commercial properties. This initiative highlights Dubai’s commitment to greater transparency and ease of business within the real estate sector.
DAMAC has raised USD 348 million from its initial public offer (IPO) in London, down from an initial target of USD 500 million. The IPO is the first by a Dubai property developer since the property market crashed in 2008.
- Nakheel has launched more than 500 residential plots within the Al Furjan project. The developer also launched several new projects during Cityscape including a mixed used development in Deira, two beachfront projects on Palm Jumeirah and new hotels at Ibn Battuta, Dragon Mart and Palm Jumeirah.
- At the end of 2013, the total residential stock in areas monitored by JLL stood at around 365,000 units, with over 9,700 residential units delivered throughout the year, 26% less than the number completed in 2012.
- The last quarter of the year saw the handing over of around 950 residential units. Most of the projects delivered in Q4 were outside Central Dubai and included the Whispering Pines villas in Jumeirah Golf Estates, Cappadocia residences and the Dana Tower in Jumeirah Village, the City Oasis in Silicon Oasis, in addition to a number of buildings and villa compounds in Dubai Sports City.
Residential Market in 2013
Interior design industry is blooming with pace promising of not slowing down at anytime soon. According to Market analysts ventures, the UAE interior design market is estimated to be worth almost US$18 billion per year which is definitely massive.
With the rise of huge residential projects such as new residential towers, villa compounds and holiday resorts rising across the metropolis, resulting in the growing need for developers, homeowners and landlords to seek out interior design talent. Also, oil prices are reduced which means regional developers are also looking to renovate and refurbish existing projects weather that be for fit out work or interior design projects
Algedra established themselves at a very peak time where we were flourished with opportunities and grabbed it coming in the business line with huge amount of clients with numerous projects locally and globally