Al Majid Property achieves 85% occupancy in first quarter

Al Majid Property Company’s UAE projects hit 85% occupancy rate during the first quarter of 2021, signalling development and growth in the real estate market in the UAE, especially in Dubai and Sharjah despite the pandemic.

CEO 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.

He said: “Our policies are responsive to the tenants’ needs, which is unquestionably seen during the pandemic.”

He added that the development and modernisation 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.