The Dubai property market continues to thrive with new launches and strong demand from buyers, especially for projects by established developers known for their quality and timely delivery. New developers are also entering the market, benefiting from the lower prices and higher returns compared to other global cities. The strict monitoring of projects during construction ensures a level of trust, attracting buyers to invest in ‘Brand Dubai’. The market is expected to remain strong in 2025, with confidence among developers that the growth will continue.
The Dubai property market has seen a surge in new project launches, with over 93,000 units launched so far in 2024. Local developers such as Emaar Properties, Nakheel, Damac Properties, Sobha Group, Samana Developers, and Danube Properties have been leading the way in supplying new properties. The demand remains high, as evidenced by the rapid sell-out of projects like the Dh1.2-billion Violet Phase 3 by a top developer, indicating a lack of slowdown in the market.
In September, Samana Developers sold out its debut waterfront properties in Dubai Islands, Ocean Pearl 1 and Samana Ocean Pearl 2, within just two hours of the launch. The properties consist of one- to four-bedroom units with private pools, attracting buyers from Europe and beyond. Majid Developments, a new entrant in the market, also experienced success with strong pre-launch sales, showcasing the appetite among residents and investors for capital and rental returns.
Buyers from diverse backgrounds, including British and European investors, are replacing Asian peers in some projects, reflecting the changing landscape of property buyers in Dubai. The UAE’s Golden Visa program has been a major attraction for property buyers, with developers offering incentives such as multiple Golden Visas to attract buyers. Overall, the market is expected to set a new record for the highest number of residential units sold by the end of the year, as per Emirates NBD Research.
The Dubai property market’s sustained growth can be attributed to the city’s status as a global hub for investment, offering security, growth, and affordability compared to other major cities like London, Paris, Hong Kong, and New York. The Golden Visa initiative has been successful in attracting a diverse range of investors looking for residency and investment opportunities. With a strong pipeline of new projects and high demand from buyers, the market outlook remains positive for 2025, with developers gearing up to meet the growing demand for quality properties in the city.
