Dubai’s Real Estate Surge

Dubai’s property market remains vibrant, with new real estate projects selling out rapidly. High-profile launches by renowned developers are often fully sold within hours, while newer developers are also experiencing swift sales, sometimes within just a few days.

High Demand for Established Developers

Established developers continue to attract strong demand due to their track record of delivering quality projects on time, offering excellent capital appreciation and significant rental yields. New developers are benefiting from Dubai’s competitive pricing and attractive returns compared to other major global cities.

The credibility of ‘Brand Dubai’ reassures buyers of timely project completion, thanks to stringent regulatory oversight during construction.

Positive Outlook for 2025

Amira Sajwani, Managing Director of Damac Properties, anticipates continued growth in Dubai’s real estate market through 2025. She highlights Dubai’s status as a global city that provides security and growth opportunities. The Golden Visa initiative has successfully drawn new investors seeking both residency and investment opportunities. Compared to cities like London, Paris, Hong Kong, and New York, Dubai remains highly affordable.

Recent Sales and New Projects

Recently, Dubai’s largest private developer sold 600 units of its Dh1.2 billion Violet Phase 3 project within hours, reflecting strong demand. In 2024, Dubai has seen over 93,000 new units launched, setting a record for the highest number of new properties introduced in the city’s history.

Major local developers such as Emaar Properties, Nakheel, Damac Properties, Sobha Group, Samana Developers, and Danube Properties are leading this growth.

Success of New Developers

In September, Samana Developers achieved impressive results by selling out its Dh660 million Ocean Pearl 1 and Ocean Pearl 2 waterfront projects in just two hours. Located on Dubai Islands, these projects offer one-, two-, and three-bedroom apartments, as well as four-bedroom penthouses with private pools.

Abu Dhabi-based Aldar Properties also saw significant success, selling out the first two phases of its ‘Athlon’ project in Dubai within 48 hours, generating Dh4.1 billion in sales.

New developer Majid Developments reported that 40% of its project was pre-sold before the official launch, indicating strong investor interest in Dubai’s property market.

Evolving Buyer Demographics

There has been a noticeable shift in buyer demographics, with increasing interest from British and European investors. The UAE’s Golden Visa program remains a key attraction, with developers offering multiple Golden Visas to potential buyers.

Market Insights

Emirates NBD Research reports that Dubai has sold 104,250 residential units year-to-date, approaching the total sales recorded for 2023. The research forecasts stable activity levels for the remainder of the year, potentially setting a new record for residential sales in Dubai.