Dubai off-plan realty sales at record peak

Inayat-ur-Rahman, Business Editor

Last week the off-plan real estate sales in the Dubai real estate market achieved a record performance during the 11 months of this year, with a growth of 115.38 per cent in terms of sales, which amounted to Dhs84 billion, while the number of deals reached 39,112 compared to last year, which amounted to Dhs39 billion.

The increase in off-plan real estate sales reflects the return of developers to launch new projects to meet the growing demand for residential apartments, especially in new attractions such as Dubailand, Expo City, Dubai South, Jumeirah Village Circle, Meydan and other areas that have begun to expand and attract investors for the purpose of ownership or investment.

Ismail Al Hammadi, founder and CEO of Al Rowad Real Estate, which specialises in real estate consulting and marketing, said, “Dubai has become a destination for billionaire companies in the world, a destination for small and medium companies, and a destination for individuals wishing to work and reside, as it has become attracting thousands of people coming from Europe, America, Canada, Russia and Asia, all of whom want to work and reside.” And the establishment of companies in light of the great government support and facilities provided to them and in light of the great importance of Dubai for the trade sector and doing business.

Al-Hammadi added, “The facilities and benefits launched by Dubai to attract talents and specialized and qualified human cadres attracted and attracted thousands of these cadres, especially in light of the escalation of economic and political crises in the world, such as Europe, the inflation crisis and the rise in prices. With the Covid crisis in a way that preserved the safety of society at the same time, it affected the growth of companies’ work and the economic performance that stopped in many countries.” The real estate supply, which led developers to return again to launch new projects that meet the needs of the market.