The Role of Developer Quality in the Relationship between Perceived Value and Buyer Satisfaction in the Off-Plan Real Estate Market in the United Arab Emirates

Abstract

The off-plan real estate market in the United Arab Emirates (UAE) has experienced rapid growth but remains characterized by significant information asymmetry between developers and buyers. This study examined how developer quality influences the relationship between perceived value and buyer satisfaction in the off-plan market. The research aimed to identify how developers can reduce information asymmetry and enhance customer satisfaction through improved signaling of quality and performance. A quantitative research design was adopted using a structured online survey distributed to 317 buyers who had purchased off-plan properties in the UAE. Data were analysed using structural equation modelling (SEM) with SmartPLS software. The model was grounded in the Expectation Confirmation Theory (ECT) and the Cognitive-Affective Model (CAM) to assess the cognitive and emotional dimensions of perceived value. The findings revealed that perceived financial utility, perceived quality, perceived social utility, and emotional value each had significant positive effects on buyer satisfaction. Developer quality was found to moderate the effects of perceived financial utility and emotional value on satisfaction, indicating that higher developer performance strengthens these relationships and reduces information asymmetry. Practically, the study provided developers with actionable insights to improve transparency, trust, and communication in the off-plan market. Developers are encouraged to enhance information sharing, disclose material quality and financial projections, and utilise virtual tools to allow buyers to visualise future assets. Overall, the results underscored the importance of developer reputation and communication in shaping buyer confidence and satisfaction in information-sensitive markets.