During the first half of 2022, Dubai’s off-plan market reportedly saw a growth trajectory of more than 130 percent with over 130,000 units from almost 85 launches. Demand is unlikely to decline as the city continues to grow, especially with the FIFA World Cup Qatar 2022 just around the corner..
“Investing in off-plan real estate is smart and profitable. The transaction is mutually beneficial for buyers and developers because it secures capital for the construction phase and provides developers with added value upon handover. Despite Dubai’s hot market in terms of new projects, as well as their costs, there is still a possibility for long-term ROI,” said Arash Jalili, Co-Founder and Chief Executive Officer of Unique Properties UAE.
Downtown Dubai, Business Bay, and Dubai Water Canal have remained the hotspots and have seen off-plan developments rise up recently, according to Unique Properties. In addition, Off – plan properties are also booming in highly desirable locations, such as Dubai Hills, Nad Al Sheba, Meydan, and Dubai Creek Harbour.
The Dubai real estate market experienced another peak on Tuesday, with property deal transactions totaling more than AED1.7 billion. According to data from the Dubai Land Department (DLD), there were 425 sales transactions for AED1.32 billion on Tuesday (25.10.2022), 71 mortgage deals worth AED386.7 million, and 12 gift deals totaling AED56.77 million.
The sales included 22 land plots at AED149.92 million and 403 homes and apartments totaling AED1.17 billion.