3.2 billion property deals of Dubai belong to the giant property developer Emaar
Emaar projects include Downtown Dubai, Dubai Hills Estate, Dubai South, Dubai Creek Harbour, Dubai Harbour and Arabian Ranches 2. These were some of the projects of Emaar that were primarily sold.
About 4,756 property deals that were done in Dubai belong to Emaar properties. To be more precise, the worth of deals was $3.2 billion (AED 12.1bn) in the first half of the year 2019.
Property Finder revealed some figures relating to transactions of properties in Dubai. According to the Dubai Land Department (DLD), a total of 18,681 deals in the real estate industry were done in the first 6 months of 2019. It is interesting to note that 30 percent of this figure belongs to Emaar Properties.
About the transactions worth $10.7bn (AED 40.3bn) in Dubai over the same period, Emaar formed nearly 40 percent. This date was based on DLD statistics.
Damac Properties sits at the second place. To be more precise, 1,476 transactions worth $453m (AED 1.7bn) belongs to this real estate developer. Also, it is interesting to note that the most popular projects of this company were Damac Hills and Aykon City in Business Bay.
The third-largest deals belong to Nakheel in the first half of 2019. In other words, Nakheel made up 1,129 registered property deals worth $599.9m (AED 2.25bn). most of its properties were in Palm Jumeirah and International City.
Meanwhile, the property transactions of Dubai Properties Group were about 868 registered deals. The transactions worth $479.9m (AED 1.8bn). Besides, most of the deals were in Dubailand (Arjan, Mudon) and Business Bay( Executive Towers). After these, the rest of deals were related to Jumeirah Beach Residence, Remraam and Madinat Jumeirah Living.
If we want to talk about off-plan properties of Dubai, still Emaar sits high among other companies. In fact, the share of Emaar for off-plan properties was 46 percent. As well as this, 61 percent of the value of off-plan transactions of H1 2019 belong to this giant developer. The developer had 3,590 off-plan transactions worth $2bn (AED7.6bn).
After Emaar, Dubai Hills Estate LLC sits at the second place. The figure for this company took up 11 percent. It had 1,092 off-plan properties sold worth $399.9m (AED 1.5bn).
Apart from those developers, the share of Damac Properties for off-plan properties was eight percent. In the first six month of 2019, it had 840 off-plan transactions with total value of $229.8m (AED861.9m).
This developer was followed by Azizi Developments registering 682 transactions valued at $115.2m (AED 432.4m). After that, Dubai Properties Group had 441 transactions with a total value of $205.9m (AED772.5m).
The properties that were sold include all types of buildings such as apartments, villas/townhouses, and commercial properties.
According to the above, a large number of property transactions in Dubai belong to the giant developer “Emaar”.
*Written by: Maral Aryanpour