Dubai's real estate market has been on an impressive growth trajectory, with over 163,000 transactions valued at Dh544 billion in just the first nine months of 2024. Experts predict this momentum will continue into the coming year, fueled by rising demand and expanding developments across the city.
Saeed Mohammed Al Qatami, CEO of Deyaar Development, shared his positive outlook for the market in a recent interview with Khaleej Times.
"We expect the real estate market to thrive further, with demand spreading into suburban areas as buyers look for diverse options," Al Qatami said.
Deyaar recently unveiled Park Five, a luxury residential community in Dubai Production City, valued at Dh1.5 billion. Designed to promote wellness-focused living, the project aims to create an urban sanctuary with thoughtfully planned amenities and competitive pricing.
The first phase introduces two buildings, Elm and Ember, offering a range of modern residences:
Studios
1-bedroom apartments
2-bedroom apartments
3-bedroom apartments
These homes are equipped with smart home technology to cater to contemporary lifestyles.
Completion Timeline: Summer 2027
Payment Plan: 50/50
Park Five’s strategic location near Sheikh Mohammed bin Zayed Road and Al Khail Road offers easy access to shopping, dining, parks, schools, hospitals, and key landmarks, such as:
City Centre Me’aisem
Al Maktoum International Airport
Expo 2020 site
Deyaar has launched several high-profile developments, including:
Midtown in Dubai Production City
Mar Casa in Dubai Maritime City
Regalia in Business Bay
Tria in Dubai Silicon Oasis
Millennium Talia Residences in Al Furjan
ELEVE in Downtown Jebel Ali
Rivage in Abu Dhabi
These projects reflect Deyaar’s commitment to quality and innovation in property development.
Al Qatami highlighted several neighborhoods poised for further development:
Dubai South
Nad Al Sheba
Jebel Ali
Mohammed Bin Rashid City
Dubai Land
Mature areas like Business Bay and emerging hubs along the Dubai-Al Ain Road are also expected to experience significant growth.
Deyaar has secured a strong land bank, ensuring resilience against rising land costs. The company remains focused on maximizing the potential of its current assets and assessing market opportunities strategically.
"While we evaluate potential land acquisitions, any decisions will align with our long-term goals," Al Qatami emphasized.
With more developers entering Dubai’s real estate market, competition is intensifying. Meeting customer expectations and delivering projects on time will be crucial for success.
"The influx of new players could create both opportunities and challenges. It will be interesting to see how the industry evolves to meet growing demand," Al Qatami said.
Dubai’s real estate market continues to captivate investors and homebuyers alike, promising growth and innovation in the years to come.
