Recorded 36 billion dirhams
10 best-selling regions for real estate in Dubai in 2020
«Dubai Marina» topped the areas of the emirate in terms of sales value during 2020. Archives
Walid Al-Zarouni: “The market will witness a boom during 2021, taking advantage of the launch of (Expo 2020)."
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The real estate expert, Chairman of the Board of Directors of "W Capital Real Estate Brokerage", Walid Al Zarouni, monitored the 10 best-selling areas of real estate in Dubai during 2020, with sales of 36 billion dirhams, while the value of properties sold in total this year was about 70 billion Dirhams, distributed over about 35 thousand real estate, according to the latest data issued by the Emirate's Land Department.
Al-Zarouni said that “Dubai has maintained the stimulation of demand, by launching several initiatives, during the repercussions of the pandemic, and the real estate market has achieved remarkable demand, amid a great desire for individual investors and funds to buy ready-made properties,” adding that the real estate sector in Dubai was able to adapt to the crisis, showing clear signs On a rapid recovery, including significant demand during the second half of the year for existing villa and townhouse properties.
Real estate transactions
Last November was the highest performance in the number of real estate transactions in the emirate of Dubai during the last nine months, with 3,928 real estate transactions, worth 7.65 billion dirhams.
Al-Zarouni said that “recent statistics of the Land Department showed that the Dubai Marina area topped the emirate’s regions in terms of sales value during the year 2020, after selling about 3,142 properties, worth 6 billion and 428 million dirhams.
This area is considered one of the most popular residential areas, which are popular with Dubai citizens and residents and business owners alike.
Statistics showed that the Burj Khalifa area (Downtown) came in second place in terms of sales value, with five billion and 68 million dirhams, distributed over 1772 properties, and the area is considered the finest, largest and best square kilometers in the world, as it is characterized by integration in terms of all modern and luxurious life styles.
Third place
According to statistics, the Sheikh Mohammed bin Rashid Gardens area ranked third, with a value of 4 billion and 718 million dirhams, after the sale of 1192 properties, then the “Mercad” area ranked fourth with a value of four billion and 358 million dirhams, after the sale of 1920 properties, followed by the fifth place in the “Business Bay” area. »After selling 2548 properties, at a value of 3 billion and 498 million dirhams.
The "Palm Jumeirah" area ranked sixth with 3 billion and 448 million dirhams, after selling 1071 properties, then "Al Barsha South Fourth" ranked seventh, with two billion and 238 million dirhams, distributed over 2331 properties.
The eighth rank
"Al-Thanyah Fourth" region ranked eighth with two billion and 158 million, distributed over 433 properties, followed by “Wadi Al-Safa 5” region, with two billion and 68 million, distributed over 1,364 properties.
And in tenth place, "Habiba IV" came with one billion and 968 million dirhams, distributed among 1661 properties.
Walid Al-Zarouni stated that there are four main reasons that pushed these areas to achieve good sales rates, the first of which is the strategic location and its proximity to the vital areas of Dubai and business areas, and the second: the integrated infrastructure for that area, then the investment return, the high demand rates, as well as the average prices that Suitable for many investors, compared to other regions.
He explained that the modern areas of Dubai have become one of the most important and in demand areas for real estate, during the past years, as they witnessed high occupancy rates and created a more active market for all nationalities, as the emirate embraces more than 200 different nationalities, coexisting and working together.
He added that it is noticeable that freehold areas are still receiving more demand for investment, especially by non-citizen investors, over the past 10 years, and among those areas are Dubai Marina, Burj Khalifa, Khairan 1, Mercad, Business Bay, and Palm Jumeirah.
Al-Zarouni stated that the market will witness a recovery during 2021, and that there will be an improvement in the low prices with the growth in demand and the contraction of supply, taking advantage of the launch of the Expo 2020 Dubai, which provides more support to the real estate sector.
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