Recent reports indicate a booming demand for off-plan properties in Dubai, with a remarkable 90% of homes currently under construction already sold. This trend encompasses various residential units, including apartments and villas expected to be completed this year.
Market Insights
According to a market analysis conducted by fäm Properties, there are currently 564,072 residential properties under construction across Dubai, with the majority set to be delivered by 2028. Of these properties, 425,863 units, accounting for 75.5%, have already been sold.
The overall absorption rate for apartments stands at 74.1%, with 367,514 units sold out of a total of 495,775. For villas, this figure is even more impressive at 85.4%, with 58,349 units sold out of 68,297. Among the 96,585 homes expected for delivery this year, 80,127 (82.9%) have been sold, reflecting an absorption rate of 82% for the 91,209 apartments and an impressive 95% for the 5,376 villas.
High Demand and Sales
Data from DXBinteract highlights that certain residential areas are witnessing extraordinary absorption rates of 100% for homes scheduled for delivery this year. Notably, apartments in Al Wasl (637 units) and villas in Wadi Al Safa 5 (854 units) are completely sold out, along with houses in Nad Al Sheba 1 (235 units) and Al Habiya 6 (476 units).
Furthermore, in Palm Jumeirah, 93.5% of the 2,397 apartments slated for completion this year have been sold, and 92.8% of the 2,324 apartments in Jumeirah Lakes Towers are also off the market.
Positive Outlook
Firas Al Msaddi, CEO of fäm Properties, remarked, “The sale of nearly three-quarters of the apartments and more than eight out of ten villas currently under construction reflects a market that is evolving alongside strong demand.” He further explained that investors are committed to purchasing properties before they are completed due to their trust in Dubai, its transparent regulatory framework, and the consistent quality offered by developers.
Al Msaddi noted that Dubai’s population has surpassed 4.58 million, with over 80,000 millionaires calling the emirate home, adding to its allure as one of the world’s most attractive destinations for living, working, and investing.
Central Dubai and Business Bay Trends
The trend is mirrored in central Dubai, where 92.2% of the 6,248 off-plan apartments are under contract, including 96.6% of the 3,981 units expected for delivery in 2026. In Business Bay, 82.8% of the 30,317 apartments under construction have been sold, including 88.7% of the 16,938 apartments set for completion this year.
High demand for off-plan apartments can also be noted in other areas such as Ras Al Khor (93.5% of 6,950 apartments) and Al Barsha South 2 (85% of 12,655 apartments). For villas, regions with the highest absorption rates include Al Habiya 5 (98.7% of 2,060 units), Nad Al Sheba 1 (98.2% of 1,569 units), and Wadi Al Safa 5 (96.4% of 8,216 units), among other locations.
With a staggering 564,072 residential properties under construction, the majority of which are set to be delivered by 2028, Dubai’s property market remains robust and appealing, demonstrating continued confidence from buyers and investors alike.
Ownership and Engagement
The property sector’s vibrancy is evident through these impressive sales figures, signalling a clear commitment from both local and international investors to secure their stakes in Dubai’s dynamic housing landscape.