Dubai Real Estate Weekly Market Analysis 26-Feb-2024

In the eighth week, Dubai's real estate market exhibited significant transactions, amounting to a total of AED 6,966,994,733, a 35% jump over the previous week. Transaction value in both off-plan and ready properties showed a balanced interest in investing in Dubai’s future growth and taking advantage of the current opportunities.

Off-Plan Properties

• Total Off-Plan Transactions: AED 3,689,385,636

• Contribution to Grand Total: ~53%

Breakdown:

• Flats: AED 2,945,970,784

  • The most significant contributor to the Off-Plan segment, accounting for approximately 80% of the Off-Plan total and about 42% of the Week 8 Grand Total.

• Villas: AED 682,162,307

  • Villas stood as the second-largest contributor with around 18% of the Off-Plan total.

• Hotel Apartments & Rooms: AED 47,718,309

  • The smallest component within the Off-Plan category, contributing about 1% to the Off-Plan total.

Ready Properties

• Total Ready Transactions: AED 3,277,609,097.55

• Contribution to Grand Total: ~47%

Breakdown:

• Flats: AED 2,134,114,571.30

  • Dominating the 'Ready' category, Flats contributed approximately 65% of the total for Ready properties and about 31% to the Week 8 Grand Total.

• Villas: AED 538,886,310.04

  • Representing nearly 16% of the Ready segment.

• Hotel Apartments & Rooms: AED 191,524,730.02

  • Accounting for close to 6% within the Ready category.

• Buildings: AED 230,400,000.00

  • Buildings contributed roughly 7% to the Ready segment's total.

Off-Plan To Areas by Value of Transactions

• Dubai Maritime City: AED 402,532,985

• Business Bay: AED 363,578,957

• Marsa Dubai: AED 270,289,904

• Al Hebiah Sixth: AED 269,588,000

• Jumeirah Village Circle: AED 229,029,797

• Bukadra: AED 227,184,666

• Al Hebiah Fourth: AED 193,053,217

• Palm Jumeirah: AED 192,787,600

• Dubai Harbour: AED 117,085,819

• Dubai Creek Harbour: AED 105,890,189

Ready TopAreas by Value of Transactions

• Burj Khalifa: AED 380,638,202

• Business Bay: AED 290,474,026

• Motor City: AED 246,417,978

• Palm Jumeirah: AED 246,218,180

• Dubai Marina: AED 171,845,717

• Jumeirah Lakes Towers: AED 171,439,584

• Jumeirah Village Circle: AED 153,141,068

• Dubai Hills: AED 150,239,290

• Dubai Creek Harbour: AED 90,436,361

• Dubai Prod. City: AED 89,528,594

Commentary

The real estate market in Dubai for Week 8 indicates robust activity with a near-equal distribution of investments in Off-Plan and Ready properties. The data reflects investors' confidence across various segments, from residential flats to full buildings, showcasing Dubai's diversified and dynamic real estate environment. The top areas for Off-Plan and Ready transactions highlight key hotspots for development and investment, with a noteworthy emphasis on Business Bay and Palm Jumeirah, which appear in both categories, indicating their consistent appeal to investors. The prominence of the Burj Khalifa area in Ready properties underlines the enduring allure of iconic landmarks in the city's real estate landscape.

Data Source: Dubai Land Department