Abstract

The Real Estate Industry has been facing an unprecedented fluctuation in prices in the recent past. The most alarming of all is the drastic fall in the prices of Apartments in Arab regions from Dubai and Abu Dhabi in the past year. In comparison to the rest of the cities in the world, Knight Frank Global Residential Cities Index shows a drastic drop in the prices of apartments by about 6.6 percent in Dubai and 8.3 percent in the recent 12 months of business (Arabianbusiness.Com, 2021). In this regard, this study aims at developing a machine learning model able to predict the future prices of Apartments in Dubai. By incorporating the essential variables, the model should give the expected valuations and prices of apartments in the region and the real estate industry. Analysis of existing data is crucial in determining the success of the model. Gupta et al. (2021) assert that data analysis techniques such as machine learning models and artificial intelligence play an important role in developing the most appropriate model to give reliable predictions. The model is helpful in both the prospective Real Estate developers, and clients determining the most appropriate time to invest in the industry or instead do business.

Publication Date

1-2022

Document Type

Master's Project

Student Type

Graduate

Degree Name

Professional Studies (MS)

Department, Program, or Center

Graduate Programs & Research (Dubai)

Advisor

Sanjay Modak

Advisor/Committee Member

Ehsan Warriach

Campus

RIT Dubai

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