Analysis of sales starts for the first half of 2023 by Knight Frank
We continue to acquaint you with the results of the analysis of the real estate market in the Emirates for the first half of 2023, published by the company Knight Frank. This spring, 12,000 real estate units were put into operation, of which 83% are apartments. Let's below consider which areas appeared more frequently in the news with launches, which projects turned out to be the most densely populated, and which frozen projects were restarted.
Key areas
In the first half of 2023, the majority of new developments appeared in key areas of Dubai. About 58% of all new projects were launched in:
• Al Barsha South – 14%;
• Business Bay – 14%;
• Palm Jumeirah – 11%;
• Dubai Harbour – 10%;
• Jumeirah Village Circle – 9%.
Resurrection from the dead
One of the loudest announcements of the second quarter was the resumption of construction of Palm Beach Towers on Palm Jumeirah, where by the fourth quarter of 2025, 1,265 residences with views of the sea or the panorama of Dubai will be delivered. And we have excellent apartments in the project on the secondary market.
Top 4 apartment projects by number of units
• Elitz 2 in JVC by Danube Properties – 788 units;
• Binghatti Gardenia on Yas Island by Aldar – 700 units;
• Bayview on Beachfront by Emaar – 664 units;
• Seapoint on Beachfront by Emaar – 661 units.
Top 4 villa projects by number of units
• Mudon Al Ranim in Mudon by Dubai Properties – 870 units;
• Rivana in The Valley by Emaar – 486 units;
• Arabian Ranches 3 by Emaar – 298 units;
• South Bay 2 and 3 in Dubai South – 358 units.
If you want to buy an apartment or villa in Dubai, call +971 (4) 450-2640 for consultation.