- Dubai’s off-plan transactions dominate the real estate sector with 62.4% of overall sales amounting to AED 5.3 billion during Q2 2024
- The total number of property transactions in Dubai reached 43,261, with the total sales value exceeding AED 120 billion in the same period
- Residential real estate prices are projected to rise by 5% to 7% annually from 2024 to 2027
Dubai, UAE – 5 August 2024: DHG Properties, a leading real estate development company with a distinguished track record and legacy of over 30 years, cites that off-plan properties dominate the real estate sector with total transactions amounting to AED 5.3 billion1 The firm also announced significant sales milestones for their latest project, Helvetia Residences in Jumeirah Village Circle, which has reached a staggering 58% of units sold since their launch event earlier this year.
Dubai’s real estate sector has shown impressive growth with active off-plan and ready property activity. Off-plan properties saw total transactions make up about 62.4% of the market in Q2 of 2024. Flats were the most popular property type, equating to AED 4.3 billion in value with 81.7% of these transactions in hot spots including Dubai Hills, Business Bay, and Jumeirah Village Circle2.
During the same period, ready properties also performed well with transactions totalling AED 3 billion and making up 37.6%3 of the market. This robust performance showcases Dubai’s strong market resilience and growing investor interest, particularly in the residential landscape.
Blagoje Antić, Founder & Chairman of DHG Holding, says: “Dubai keeps proving itself as a top spot for real estate investment as we have witnessed significant growth in both sales volume and value. The total number of property transactions reached 43,261 in Q2, representing an 18.5% increase with the total sales value exceeding AED 120 billion4 when compared to the previous quarter; which recorded 36,448 transactions and amounting to AED 108.2 billion5.
This surge has also been reflected in the sales of our currently under construction project, Helvetia Residences, as we have achieved 58% of units sold to date. As the demand for off-plan property in Dubai continues to grow, we are actively anticipating market needs to ensure Helvetia Residences is not only delivered on time but is also setting new industry standards in line with the vision of the UAE – this is what has led to our excellence overseas, and it remains a formula that we are working towards replicating here as well.”
Interest in off-plan properties has been a hotspot for years and this trend continues to hold steady, highlighting the sector’s potential for capital appreciation and yield generation. As 2024 progresses, this trajectory is expected to make it an exciting time for both investors and developers. Residential property prices are projected to rise by 5% to 7% annually from 2024 to 2027 6, driven by growing demand that is outpacing market supply. As Dubai continues to urbanize with its 2040 Urban Master Plan and Sustainable Development Initiative7, new developments that align with these initiatives, and others, are well-positioned to meet the evolving needs of investors and residents alike.
DHG Properties is bringing its unique European flair to the UAE with Helvetia Residences in JVC. This project caters to Dubai’s diverse population and strengthens DHG’s portfolio. With a 30-year track record, DHG boasts 300 completed projects, 2.5 million square meters of development, and over 1,500 residential and commercial projects in the pipeline. Recently, DHG hosted an event at the Hyatt Regency in Belgrade, highlighting Dubai’s real estate appeal and attracting Serbian investors. They sold 28 units in JVC through an engaging program that featured a wheel of fortune with various benefits.
