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Daily Tribune
03-07-2025
- Business
- Daily Tribune
Property Boom Sends Dubai to New Heights
TDT | Manama Dubai's real estate market has shattered previous records, with property sales reaching AED 326.7 billion (approximately BHD 33.3 billion) in the first half of 2025. This marks a 40 percent year-on-year surge. The second quarter alone recorded AED 184 billion (approximately BHD 18.8 billion) worth of transactions, the highest quarterly figure in the city's real estate history. According to fäm Properties, Q2 delivered 53,118 transactions. This surpassed the previous record of AED 147.2 billion (approximately BHD 15.0 billion) in Q4 2024 by 25 percent. The total number of deals also rose, climbing 5.39 percent above the earlier high of 50,400 set in Q3 last year. Momentum across all segments The market's momentum extended across the board. Plot sales reached AED 32.2 billion (approximately BHD 3.3 billion) from 1,384 transactions, showing a 49 percent jump in volume over Q2 2024. Villas recorded 10,019 sales worth AED 66.5 billion (approximately BHD 6.8 billion), which was up 38.3 percent in volume compared to the same period last year. Apartment sales climbed to AED 81.6 billion (approximately BHD 8.3 billion), reflecting an 18.7 percent rise year-on-year and a 22.7 percent increase over Q1 2025. The median price per square foot continued to rise, reaching AED 1,607 (approximately BHD 163.9) in Q2. This compares with AED 1,514 (approximately BHD 154.4) in Q2 2024 and AED 958 (approximately BHD 97.7) in the same quarter in 2021. Developers drive growth New project launches were the primary growth driver, with 66 percent of sales coming from first-time developer sales. The remaining 34 percent were from the resale market. Among apartment developments, Binghatti Elite and Sobha Solis each recorded 712 first-sale transactions. Timez by Danube and Sobha Orbis were also among the top five performers. On the villa side, Me'Aisem Second led in value at AED 14.8 billion (approximately BHD 1.5 billion), followed by Al Yelayiss 1 with AED 6.47 billion (approximately BHD 660 million) and DIP Second with AED 10.05 billion (approximately BHD 1.03 billion). Luxury properties also made an impact. The most expensive villa sold was priced at AED 365 million (approximately BHD 37.2 million) on Palm Jumeirah. The highest-priced apartment fetched AED 170 million (approximately BHD 17.3 million) at Peninsula Dubai Residences. Area-wise winners In terms of volume, Jumeirah Village Circle topped the list with 4,930 transactions, followed by Business Bay, Al Yelayiss 1, Wadi Al Safa, and Dubai South. Me'Aisem Second recorded the highest total value at AED 14.94 billion (approximately BHD 1.52 billion) from just 844 transactions. Commenting on the data, Firas Al Msaddi, CEO of fäm Properties, said the figures reflect the consistent strength and resilience of Dubai's real estate market and its rising global appeal.
Zawya
06-03-2025
- Business
- Zawya
Property Finder reveals latest data for Dubai's ongoing growth across off-plan and existing real estate in February 2025
DUBAI, UNITED ARAB EMIRATES: Property Finder, the leading property portal in the MENA region, has announced market performance highlights for February 2025, offering valuable insights into the real estate landscape. According to Property Finder's proprietary data, around 16,099 transactions were recorded, leading to a 35%₁ increase compared to February 2024. The value of these transactions increased by 55%, totalling to AED 51.1 billion. Key data highlights: 34% of people who seek to own or invest in properties were searching for one-bedroom units, with 37% showing an inclination for two-bedroom apartments and 13% for studios. Seekers for villas/townhouses included 39% searching for three-bedroom units and 47% for four-bedroom or larger options. Popular areas for apartment ownership were Dubai Marina, Jumeirah Village Circle, Downtown Dubai, Business Bay, and Palm Jumeirah. Dubai Hills Estate, Dubai Land, Al Furjan, Palm Jumeirah, and Damac Hills 2 were the most desired areas to own villas/townhouses. Rental Trends: Roughly 64% of tenants looking for apartments preferred furnished properties, while 34% turned to unfurnished options. Tenants who sought villas/townhouses showed a difference in preference, with around 58% searching for unfurnished units and 42% going for furnished properties. When searching for apartments, 36% of tenants were looking for one-bedroom units, while 32% expressed a preference for two-bedroom apartments and 20% for studios. 41% of tenants looked for three-bedroom villas and 39% searched for four-bedroom or larger options. Additionally, the demand for furnished villas and townhouses surged to 47% in February 2025, up from 36% a year ago, while furnished apartment searches rose to 59%, compared to 45% in 2024. Top areas searched to rent apartments included Jumeirah Village Circle, Dubai Marina, Downtown Dubai, Business Bay, and Deira. Jumeirah, Dubai Hills Estate, Damac Hills 2, Dubai Land, and Al Furjan were popular when it came to searches to rent villas/townhouses Off-plan vs Existing Market: In February 2025, the ready market recorded 6,997 transactions, up from 5,522 transactions in February 2024, reflecting a 27% increase in volume and a 53% increase in value. Leading the surge, Burj Khalifa recorded AED 3.1 billion across 334 deals, while Al Yelayiss 1 saw a remarkable jump, reaching AED 2.4 billion, up from AED 96 off-plan market remained strong with a significant increase of 57% in transaction value, recording AED 20.5 billion, compared to AED 13 billion in February 2024. In terms of value, Wadi Al Safa 5 recorded AED 2.2 billion across 1,073 transactions, while Al Al Yufrah 1 experienced substantial growth, reaching AED 1.4 billion, up from AED 184 million. Cherif Sleiman, Chief Revenue Officer at Property Finder, said, 'Dubai's real estate market continues to demonstrate remarkable strength, with sustained growth in off-plan transactions reinforcing the city's position as a prosperous investment hub. Building further on this positive outlook, as regulators work to ease the business setup processes, we are witnessing a direct correlation between real estate expansion and Dubai's ability to attract top-tier talent and entrepreneurs from around the globe. Coming out of a dynamic year, the country's commitment to innovation and long-term growth remains constant. This leads to increased international interest towards our resilient market, as recent data from the Ministry of Investment highlights how the nation is seen as a destination where people can truly build their future. At Property Finder, we remain dedicated to providing the insights that empower investors, home seekers, and businesses to navigate this evolving landscape with confidence.' About Property Finder Property Finder is a pioneering property portal in the Middle East and North Africa (MENA) region, dedicated to shaping an inclusive future for real estate while spearheading the region's growing tech ecosystem. At its core is a clear and powerful purpose: To change living for good in the region. Founded on the value of great ambitions, Property Finder connects millions of property seekers with thousands of real estate professionals every day. The platform offers a seamless and enriching experience, empowering both buyers and renters to make informed decisions. Since its inception in 2007, Property Finder has evolved into a trusted partner for developers, brokers, and home seekers. As a lighthouse tech company, it continues to create an environment where people can thrive and contribute meaningfully to the transformation of real estate in MENA.
