– Citywide Trends
The Dubai real estate market has typically seen the highest demand for one and two bedroom offerings. As such, it is no surprise that these comprise over half of the units launched so far in 2024. Similarly, Jumeirah Village Circle’s post-COVID boom* has ensured that it comfortably tops the list of communities with the most projects launched.
– Price Analysis
For the most part, units priced between AED 1,000 and 2,000 per square foot have been the most common among launches this year. However, there have also been a significant number of off plan units launched at under AED 1,000 per square foot, demonstrating a healthy demand for mid market residential offerings. There have also been a notable amount of units launched with higher end prices (climbing as high as AED 7,000 per square foot and beyond), even as luxury sales have fallen across many of Dubai’s foremost luxury communities.**
– Developer Breakdown
The increased proliferation of smaller developers means that nearly 60% of the projects launched this year are scattered across a variety of developers. Few have managed to stand out with a high volume of launches, but those that have include well-known names such as Emaar, Damac Properties and Dubai Holding Real Estate.