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2021 showed unexpected results, demonstrating the recovery of the Dubai housing market, despite the global pandemic. The Dubai Land Department reports that the last quarter of 2021 saw high rates of real estate purchases. There were the most significant figures in December, a month that is considered quiet in real estate sales. The total cost of transactions for the month was $2,750,000. According to Farhad Azizi, Director of Azizi Developments, the sales market shows interest from foreign investors. Even the restrictions imposed by the pandemic did not prevent citizens of Pakistan, India, France, Russia, and the United Kingdom from purchasing real estate in Dubai for permanent residence or investment. Dubai is the only major metropolis in the world that did not impose entry restrictions...

According to the analytical report of the international consulting company CBRE, the Dubai real estate market has reached record levels in 2015 for the first time in the past seven years. The number of transactions in the first month of the year increased by more than 80% compared to the same period in 2021. The growth in demand for ready-made housing amounted to 32.5%, while off-plan transactions increased by 187.5%. This indicates the heightened interest of investors in the housing stock of the largest metropolis. Property prices also increased by an average of 10.2%, with the final figures depending on the type of property: Flats and apartments have risen in price by 8.5%. The average price per square meter reached $3,190. Villas have increased in price by almost 22%. The cost per...

Wasl properties has announced sales in the new Gardenia Townhomes II complex. It will be a continuation of the Dubai Jebel Ali sub-community. The first part of the project was successfully implemented in 2019 when all 257 housing units were sold out in the first days of sales. Gardenia Townhomes II includes 92 townhouses of different sizes. Of these, 26 houses will have four bedrooms, and 66 townhouses will have three bedrooms. There are plans to build a communal swimming pool and equip a gym. Each townhouse will have two parking spaces. After the construction is completed, the territory will be improved and expanded. The project provides a park for walking pets and a central park for family holidays. The construction will be carried out according to high-quality standards, which...

The annual rise in elite property prices was 35.1%, and the demand continues to grow. The total increase in property prices in the emirate was 33% in January 2022. In annual terms, budget real estate increased by 15.7%, affordable property — by 37.2%, and elite housing — by 35.1%. The local market attracts many wealthy investors and buyers. The reasons for the emirate’s popularity are the high quality of life. The economic potential of the country also plays a significant role. Thanks to Expo 2020, Dubai authorities have attracted lots of individual investors and international companies to the local market to conclude long-term contracts, including in the construction sector. This has attracted and will attract several categories of wealthy buyers, from highly...

Savills' World Cities Prime Residential Index evaluates over 30 major housing markets, including New York, London, Paris, and Moscow, by the popularity of elite properties with buyers and tenants. The index indicates that Dubai has gained popularity from wealthy buyers for competitive prices, high indicators of quality of life, and high epidemiological security during COVID-19. In total, for all cities in the index, the capital value of premium properties grew on average by 3.2% in 2021, even despite rising credit interest rates, disruptions in global supply chains, and inflation. Miami and Los Angeles became the leading capital-value countries, with annual growth rates of 21% and 20%, respectively. Dubai showed an increase of 17%, particularly in the second half of 2021. The growth...

One of the leaders of the real estate market, known for its focus on premium real estate, earned $9.1 billion, thereby increasing annual sales revenue by 209%. In 2020, Emaar's real estate revenues amounted to $ 2.9 billion. A year later, the company reported sales of $9.1 billion. This is the highest figure since the company was founded in 1997. Villa rally in 2021 and the high overall demand for luxury property played into the hands of the company. It has always been famous for its dominant position in the high-price segment. The company also reported high revenues from shopping malls, retail, and hotel business. The company's net profit in 2021 amounted to $1.03 billion, which is an increase of 80% compared to 2020. Since 2002, Emaar Properties has sold over 81,600 properties on...

In 2021, investors were interested not only in low-cost properties but also in premium ones. The growth in demand led to higher sales and prices. According to the consulting agency Knight Frank, real estate sales worth over $10 million reached their 2015 level. This is not the highest level, as it was in 2014, so it is likely to grow. Palm Jumeirah is the leader in demand. The island, called another wonder of the world, attracts buyers of luxury real estate. It accounts for three-quarters of sales, combined with the Emirate Hills and Jumeirah Bay. The latter broke all records, setting a new sales level of $20 million. It can be classified as super ultra-premium. Wealthy buyers are interested in exclusive metropolitan areas. Both luxury apartments in skyscrapers and villas are breaking...

One of the major developers of Dubai, which has many successfully implemented projects, announced the launch of another elite gated community. The Select Group is planning to build the western branch of Palm Jumeirah. The region has a leading sales position: due to the limited territory of the man-made island, it cannot accommodate everyone who wants to live within walking distance from the coast and enjoy all the benefits of developed infrastructure. The new Six Sensens project is capable of satisfying the most demanding customers. The limited line of the residential complex will include only 162 housing units. These are 121 penthouses, 37 luxury villas, and 9 premium villas. They will be located on the coast of the Persian Gulf. Each property will have its land plot of at least 1,500 sq...

2021 showed record sales in the Dubai real estate market. It has become unique not only in increasing demand and prices but also in changing the interests of clients from compact apartments to spacious villas. According to the largest consulting agency Core, the economic situation in the United Arab Emirates spurs interest in all asset classes in the real estate sector. The report says that 37,000 residential units, including 5,900 villas, were commissioned in 2021. Experts expect similar figures in 2022. At least 36,000 housing units will be sold this year. However, this figure will likely change in the future. There is an increased demand for villas, which also reduces the supply. Developers seek to accommodate buyers' preferences, but the limited size of the area does not meet all...

2021 was a record year in Dubai real estate sales. The increase in demand spurred a rise in prices. This is true of luxury real estate. Forecasts suggest that the situation will continue in 2022. Prices are likely to rise by up to 6%. According to Savills, Dubai is the third-largest city in 2021, with a high rise in the price of luxury properties. Investments in it are the most profitable. The process is associated with the capitalization of the average housing value. In 2021, it exceeded 17% and will decrease slightly, but will reach 4-5.9%. Miami and Los Angeles occupy the first two places in the top three. The price growth in these cities was 21% and 20%, respectively. The situation affected not only the sales market but also the rental sector. The increase in demand is associated with...

The Dubai Real Estate Market has record sales and rental prices. According to the Dubai Land Department, District One recorded the highest rent in recent times. The mansion was rented for $2 million. This is one of the indicators of increased interest in this community. Last year, buyers invested over $27 million in District One real estate. At the same time, the prices for real estate in the MBR City structural project are high. Spacious villas with six or more bedrooms are available for $30 million. In 2021, the cost of housing increased by more than 40%, and luxury real estate rose by 60%. The situation is similar in the rental market. Expo 2020 has attracted millions of visitors interested in comfortable real estate in the UAE. Many foreign citizens decided to change their countries...

District 2020 is a district of Dubai, which has become the focus of the events of Expo 2020. It will become a multifunctional community with a housing and commercial fund. About 80% of the infrastructure created for the international exhibition will be used in the future. There is an increased interest in short-term rental housing. It is in demand among the visitors of the exhibition. Flats and apartments for permanent residence will also be available in the area. According to Sanjiv Khosla, Vice President of District 2020, commercial real estate will be put into operation in July this year. Another 800 units of rented housing will be delivered before the end of the year. Residents will receive more than 2,300 apartments earlier. The growing demand for real estate is related to its...

The construction of the Uptown Tower is underway in a new area of Dubai. The height is 340 m. The deadline for putting housing into operation is the 3rd quarter of 2022. The tower will have 79 floors and be the tallest building in the new area of the metropolis. It is located close to such popular communities as Jumeriah Lakes, Jumeriah Park, and Jumeriah Islands. The project will include not only residential but also commercial real estate. Office spaces already have their owners. According to the developer, a fifth of the available space has been leased, although there are six months left before the building is put into operation. The work is taking place as scheduled. The glass facade is almost 90% complete. According to Ahmed Bin Sulayem, DMCC Executive Director, the building will...

The developer, known for his buildings in Dubai, is expanding its activity. Nakheel introduces the Tilal Al Furjan project to investors. The project will be a continuation of successful developer’s projects. Housing in Murooj Al Furjan and Murooj Al Furjan West found buyers quickly after opening sales. The luxury villa complex will be built with high comfort requirements: spacious areas, decoration with modern materials, and panoramic windows. Particular attention is paid to the internal infrastructure. The buildings will include the landscape design, and the residents will have bicycle lanes, children’s playgrounds, sports areas, and swimming pools on its territory. The developer strives to create environmentally friendly homes. One of the ways to save natural resources will...

Despite the global pandemic, real estate market experts in the United Arab Emirates say that high demand and sales growth will continue in 2022. The analysis shows that strategic government initiatives attract global investors to Dubai. Investment interest remained high throughout 2021. The annual report of the major analytical company Core for Dubai shows that the UAE government attracts foreign nationals to the country to support the real estate market. The market recovery has not yet reached its peak sales in 2014, so most megacities have growth potential. The sales figures are also impressive. According to the report, 5,900 luxury villas were put into operation in 2021. The total number of commissioned real estate has reached 37,000. The number of completed projects will increase in...