Dubai’s master developers continue to remain well ahead of the pack in selling residential property with major players Emaar Properties, Dubai Hills Estate and Nakheel accounting for most property sales transactions in Dubai in the first two months of 2019, reveals the Research and Data team at Property Finder.

 

In terms of total transaction volume, Emaar sold 1,374 homes in January and February 2019, accounting for 24% of the total share. 

 

Dubai Hills Estate, which is a joint venture between Emaar and Meraas, sold 601 of its homes and contributed to 10% of the total pie while Nakheel sold 359 homes, accounting for 6% of the total market share.

 

Emaar, Meraas and Dubai Holding are amongst the few master developers who have launched off-plan projects in the last few months, according to Property Finder data. While the other developers are more focused on clearing their existing inventory.

 

Other developers that registered positive residential sales in the first two months of the year were Damac Properties, Dubai Holding, Seven Tides International, Azizi Developments and Danube Properties, according to Property Finder, the pre-eminent real estate portal in the Middle East and North African region.

 

In terms of value, Emaar lead the pack again, clinching property deals worth Dh3.56 billion. In second place was Dubai Hills Estate with deals worth Dh1.08 billion, followed by Dubai Holding with Dh664 million worth of realty transactions.

 

These figures highlight that investors are profiting from off-plan projects that are priced right and which offer a generous payment plan from a developer with a proven track record. 

 

“In Dubai last year, we saw a number of long-time renters who converted to homeowners, in part due to attractive prices and payment plans in newly handed over projects. The combined effect is a healthy trend where off-plan investors are profiting from affordable housing and the number of homeowners are also increasing,” said Lynnette Abad, Director of Data and Research at Property Finder.

 

Emaar Properties, Dubai Hills Estate and Dubai Holding were the top 3 developers for off-plan sales volumes in January and February. Emaar sold 1,043 off-plan homes, dominating the market with a 34% share; Dubai Hills Estate sold 539 homes, accounting for 18% while Dubai Holding clinched 163 off-plan sales, contributing 5% of the share, according to Property Finder statistics.

 

“Emaar share value has risen by 13% since the beginning of the year as they have taken over 49% of the market share in the first two months of 2019,” Lynnette added.

 

In terms of value of off-plan sales, Emaar lead the pack again with sales worth Dh2.45 billion, accounting for the lion’s share of 49%. Dubai Hills Estate stood a distant second, with off-plan transactions worth Dh688,200 (14% market share) while Dubai Holding came third with Dh308,242 worth of off-plan deals (6% market share).-TradeArabia News Service