As the Dubai property market continues its upward trend, October 2024 has emerged as a landmark month with impressive growth in both transaction volume and sales value. This dynamic performance highlights Dubai's position as a global real estate hotspot, with investors and buyers seizing opportunities across off-plan developments, ready apartments, villas, and plots.

Key Highlights:

• Transaction Volume: October 2024 recorded 16,900 property transactions, marking an increase of 53% compared to October 2023.
• Transaction Value: Total property sales reached AED 53 billion, showing a 46% growth in value from last year.

The significant increases in both transaction volume and value underscore the sustained demand and investor confidence in Dubai’s real estate landscape.

Off-Plan Market: Robust Activity Across Apartments and Villas

Off-plan apartments and villas dominated October’s activity, with projects from Sobha and Damac leading in both sales count and transaction value.

Top Off-Plan Apartment Projects:

1. Sobha Orbis Tower E - 246 units, AED 295.3 million
2. Sobha Orbis Tower A - 242 units, AED 286.9 million
3. Damac Hills (2) - Elo 3 - 234 units, AED 176.9 million

Top Off-Plan Villa Projects:

1. Damac Riverside - Lush - 308 units, AED 884.6 million
2. Greenridge - 295 units, AED 987.8 million
3. Damac Riverside - Ivy - 244 units, AED 692.3 million

These numbers reflect growing demand for new developments with premium locations, amenities, and flexible payment options.

Ready Properties: A Strong Demand for Immediate Possession

In the ready property segment, apartments in Cf 3 and Cf 4 led the market, while Arabian Ranches I and Mag Eye Phase 1 saw high activity in the ready villas category.

Top Ready Apartment Projects:

1. Cf 3 - 54 units, AED 170.4 million
2. Residence 22 - 23 units, AED 312.1 million

Top Ready Villa Projects:

1. Arabian Ranches I - 15 units, AED 53.9 million
2. Mag Eye Phase 1 - 15 units, AED 43.8 million

Plot Sales Surge: High-Value Investments in MBR City and The Acres

Plot investments saw notable interest, particularly in Mohammed Bin Rashid Al Maktoum City and The Acres, reflecting Dubai’s ongoing appeal for bespoke property developments.

Top Plot Projects:

1. MBR City - District One West - Phase 2 - 221 plots, AED 3.6 billion
2. The Acres 3 & Estates - 134 plots, AED 1.2 billion

Dubai’s Resilience and Growth

October’s figures signal a promising trajectory for the Dubai real estate market. With international interest at an all-time high, developers and investors are set to continue driving growth across multiple segments, from luxury apartments to expansive villa communities.

Dubai’s sustained market resilience and rapid urban development make it an attractive destination for global real estate investors. With detailed monthly and quarterly market reports, Dubai continues to offer transparency and opportunity, ensuring informed decisions for all stakeholders.