01 August 2019

Dubai developer Emaar Properties had dominated the Dubai real estate landscape during the first six months, both in terms of transactional volume and value of overall properties registered including residential (apartments and villas/townhouses) and commercial properties, according to a report.

In the first half, the Dubai Land Department (DLD) had registered a total of 18,681 transactions, with Emaar accounting for 30 per cent of those deals, states Data Finder, a real estate insights and data platform under the Property Finder Group, citing DLD statistics.

The developer of the iconic Burj Khalifa is seeing a great deal of interest for projects being built under its joint venture with Meraas and Dubai Hills Estate. Meraas is a local developer responsible for projects like Bluewaters Island, La Mer and City Walk.

Emaar alone accounted for 4,756 transactions cumulatively worth Dh13.1 billion ($3.56 billion) in the first six months. Transactions cumulatively worth Dh40.3 billion were registered in Dubai in the same timeframe, according to DLD statistics.

In terms of value, Emaar accounted for almost 40 per cent of the total value of transactions in the first half of 2019. Emaar units were primarily sold in projects such as Downtown Dubai, Dubai Hills Estate, Dubai South, Dubai Creek Harbour, Dubai Harbour and Arabian Ranches 2.

Other top developers were Damac Properties, Nakheel, Dubai Properties, Azizi Developments, Seven Tides International, Danube Properties and MAG Group.

A distant second in the number of registered transactions, Damac Properties accounted for 1,476 registered real estate transactions collectively worth Dh1.7 billion. The developer saw good buyer interest in projects like Damac Hills and Aykon City in Business Bay.

The other big developer, Nakheel accounted for 1,129 registered property deals worth Dh2.25 billion in H1. These units were mostly in the Palm Jumeirah and International City.  

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