Dubai realty market rides on robust off-plan demand

Total transactions by the Dubai Land Department amounted to Dh132 billion for the first half of 2017. Approximately 25 per cent of these transactions are from residential transactions with investment in the Dubai off-plan market year to date standing at Dh21.4 billion and Dh11.3 billion in the secondary market.

The total number of off-plan sales to date has already surpassed the entirety of off-plan sales in 2016. As the off-plan market looks positive heading into Q3 and Q4, the total number of off-plan sales could hit 25,000 units by year end.

Property transaction data taken from Property Monitor, a real estate data intelligence platform, showed a total of 2,432 off-plan units transferred in July. The top five areas with the most off-plan transactions in order are Business Bay, Downtown Burj Khalifa, Dubai South, Jumeirah Village Circle and Mohammad bin Rashid City.

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