How Off-Plan Properties Foster Growth In Dubai Real Estate Sector

The Dubai property marketplace is picking up momentum largely pushed by off plan properties in dubai. In the period between January and May 2018, approximately 8,000 residential units are introduced in the market, across various segments from 1BHK apartments to sprawling luxury villas running into a few thousand square foot.

The number of new releases throughout the Jan-May’18 interval is although comparatively lower compared to the corresponding period of the previous calendar year, it’s fairly favorable to be aware that the marketplace is sustaining the pace of new launches. Throughout Jan-May 2017, the Dubai off-plan real estate marketplace had enrolled the launch of around 12,000 properties across the city. This way, this year the number of new launches from the off-plan properties segment is low by around 30 percent.

On the brighter side, we can’t ignore how the constant launch of new property jobs in the current market is a indication of optimism. The real estate developers in Dubai are seeking to be a great deal more optimistic about the prospects of their projects and are starting multiple projects in town.

A number of the Main property projects that are offering Dubai off plan properties from the Dubai market are as follows:

  1. Grande at The Opera District by Emaar
  2. The Grand in Dubai Creek Harbour by Emaar
  3. Tilal Al Ghaf I by Majid Al Futtaim
  4. Belgravia Heights I by Ellington Properties
  5. Sobha Creek Vista at MBR City
  6. Azizi Mirage at Dubai Studio City
  7. Azizi Grand in Dubai Sport City
  8. Jewelz By Danube Properties
  9. Lawnz in Dubai International City by Danube
  10. Se7en Town at JLT

During May 2018, approximately 1,800 off-plan units were sold in Dubai, as per data from GCP-Reidin. These are the best sales numbers this season, surpassing the earlier sales numbers clocked at 1,700 units in January this year.

JLT, Jumeirah Village Circle, Meydan, the Downtown and Dubai Marina have continued to be the most popular destinations for real estate investors in Dubai off-plan properties marketplace. According to real estate developers, land buyers have been showing a renewed level of interest in buying of late. A lot of the tendency could be attributed to the competitive pricing stance taken by the developers. Today, the per square foot costs in a lot of the prominent projects is averaging Dh750, which is significantly lower than the prices that used to be above Dh 1,000 earlier.

The emerging situation is indicating that the Dubai property market is slated to gain more of buyers’ confidence in the coming months, presenting an unprecedented opportunity for people who want to own their own home in Dubai or ensure it is big from real estate investing in an international city like Dubai.