Dubai Real Estate Transactions as Reported on the 20th of November 2024
On November 20th, 2024, Dubai’s real estate market witnessed transactions totaling AED 1.44 billion. This impressive figure reflects a mix of both off-plan and ready property sales, highlighting the diverse opportunities available in the market for investors and end-users. Off-Plan vs. Ready Transactions The overall market volume of AED 1,438,890,073 was split between off-plan and ready properties: Off-Plan Property Breakdown The off-plan segment, totaling AED 861,307,413, was distributed across various sub-categories as follows: Ready Property Breakdown Ready property transactions amounted to AED 577,582,660 and were broken down as follows: Key Insights The data reveals several key trends in Dubai’s real estate market on November 20th, 2024: Conclusion Dubai’s real estate market continues to demonstrate resilience and growth, with a total transaction value of AED 1.44 billion on November 20th, 2024. The strong performance of both off-plan and ready segments indicates a healthy balance of investor interest in future projects and demand for immediately available properties. As the city continues to develop and expand, these trends provide a positive outlook for both investors and end-users seeking to capitalize on Dubai’s dynamic property market. Dubai Real Estate Market Review 21-Nov-2024 Dubai’s real estate market is set for 30% YoY growth by 2024’s end. Real estate sector sees 50% increase in handovers in Q3, 14,900 homes expected to arrive in Q4. Dubai realty sets new records with over 50,000 transactions Dubai’s real estate market set a record in Q3 2024 with Dhs141.9 billion sales, a 16.6% QoQ and 37.9% YoY rise, driven by strong demand and relaxed regulations. Apartments led sales, and the market is projected to surpass Dhs500 billion annually for the first time. Dubai real estate market on track for 30 percent sales growth by end of 2024 Dubai’s real estate market is set for 30% YoY growth by 2024’s end, with record-breaking sales, prices, and new launches. October saw 20,460 deals, the highest ever, and prices hit AED1,473 per sq ft. Market stability continues with increased diversity in new projects and high mortgage activity. Dubai’s Damac to build data centres across Europe and Asia: Report Damac Properties plans to build data centers in Europe and Asia, owning land in Greece, Spain, Turkey, Indonesia, and Malaysia. The company is constructing over 10 centers, with each megawatt costing $10 million. Luxury property demand in Dubai is rising, especially among wealthy Europeans. Dubai real estate sector sees 50% increase in handovers in Q3, 14,900 homes expected to arrive in Q4 The Dubai real estate sector saw a surge in new handovers in Q3 2024, particularly in the apartment segment, which witnessed nearly 50 per cent increase in completions, according to Asteco’s Q3 2024 real estate report. Dubai continues to solidify reputation as prime destination for luxury real estate Brazilian footballer Neymar Jr. purchased a Dh200 million penthouse in Dubai’s Bugatti Residences, boosting the city’s luxury real estate appeal. The project, targeting the ultra-wealthy, features 182 units with record prices, making it one of Dubai’s most exclusive and sought-after developments. GJ Properties sets record sales of AED 550mln at Ajman Sales Event GJ Properties Investments LLC achieved AED 550 million in sales at the Ajman Sales Event, selling 837 units, including Al Ameera Village and Nuaimia Two Tower. The developer also launched Biltmore Residences Sufouh in Dubai, a luxury project set for completion in early 2026, offering premium living options. Deyaar’s first residential project in Abu Dhabi is sold out Located on Al Reem Island, Rivage offers 1-, 2- and 3-bedroom apartments, Sky Villas and Sky Palaces with prices starting $320,000.