Its value reached 11 billion dirhams, supported by attractive prices and incentives

125% growth in off-plan property sales in Dubai in 5 months

  • The villas had a role in enhancing the sales of the map in the Dubai real estate market.

    Cinematography: Mostafa Qassemi

  • Ismail Al Hammadi: "The government stimulus gave strong support to the market, and boosted investor confidence in Dubai's economy."

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The value of real estate sales in Dubai amounted to more than 46 billion dirhams, during the first five months of this year, of which map sales accounted for about 11 billion dirhams, a growth of 125%, compared to the same period last year.

The founder and CEO of "Al Rowad Real Estate", Ismail Al Hammadi, said that the residential projects directed at the middle and low-income groups, launched by a group of developers in the market, had a significant impact in raising the value of sales on the map, especially those located in the Jumeirah Village Circle area. Al Barsha, Al Jaddaf and Dubai Land are backed by attractive prices and great incentives offered by real estate developers.

villas

Al Hammadi added, in a statement issued by the company, that the residential villas and “townhouses” had also played a role in promoting sales of the map in the Dubai real estate market since the beginning of 2021, thanks to the great interest it gained during recent periods by local and foreign buyers, noting. He added, "This is proven by reality, as we see that all the villa projects that have been put up during the current year in the market so far, have run out within a few hours of the launch date."

government stimulus

Al Hammadi stated that the government stimulus gave strong support to the market, and boosted investors' confidence in Dubai's economy, prompting them to boost their investments in the emirate's real estate, which is witnessing a recovery from month to month.

He pointed out that purchasing on the map is an opportunity for employees or the middle-income segment to own a real estate unit, according to appropriate purchase conditions in terms of price and payment system until the completion of the project, then payments after delivery of up to eight years, as well as various facilities that relieve financial pressure on This category helps it pay the installments comfortably, and investors also benefit from other advantages, such as free maintenance for about three years, bank financing, and others.

the most wanted

Al Hammadi explained that the most popular areas for apartments under construction are: Dubai Silicon Oasis, Jumeirah Village, Jumeirah Lakes Towers, Dubai Land, and Al Barsha South. As for villas, Dubai Hills Estate tops the demand, in addition to Arabian Ranches, Dubai South and Town Square.

With regard to real estate projects under construction, Al Hammadi said that data from the Dubai Land Department for the past year showed that there were 1,894 real estate projects registered in freehold areas, 314 of which are under construction.

More recovery

The founder and CEO of Al Rowad Real Estate, Ismail Al Hammadi, expected a further recovery in real estate sales in the future, according to data from the Dubai Land Department. Last month’s figures showed sales of 11.11 billion dirhams, the highest value recorded since 2014.

• «Dubai Silicon Oasis» topped the areas in most demand for apartments under construction.

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