• The Dubai real estate market is still rich with attractive investment opportunities
  • The rise in deal values prove Dubai market robust performance

Dubai, United Arab Emirates:  W Capital, a Dubai based real estate brokerage, said that the 10 largest Dubai real estate sales deals total value since the beginning of the year, topped AED5bn.

The total real estate sales from the beginning of the year until mid-February amounted to about AED55bn, resulting  from more than 17.6 thousand transactions, distributed to 14.6 thousand residential units, 1,196 buildings, and 1,842 plots of land, according to the study, which was based on data from the Dubai Land Department, DLD.

The largest real estate deal since the beginning of this year, was of selling land in terms of value and area in the “Dubai Investment Park II” area. It is for residential purposes, at a value of AED3.58bn, with an area of 59.656 million square feet, at a rate of 60 dirhams per foot.

In second place was the deal selling a plot of land for residential purposes in the Jumeirah Lake Towers area, valued at AED268.3 million, with an area of 57,135 thousand square feet, at a price of 4,696 dirhams per foot.

Thirdly, a deal selling land for residential purposes in the “Al Mamzar” area for a value of AED182 million, with an area of 27 thousand square feet, at a price of 6,740 dirhams per foot.

The study showed that the deal to sell land for residential purposes in the “Dubai Water Canal” area came in fourth place, with a value of AED170 million, with an area of 30,000 square feet, at a price of 5,666 dirhams per square foot.

The fifth was the sale of a residential apartment in the “Jazira 2” area, valued at AED140.45 million, for an area of about 11,656 thousand square feet, at a price of 12,048 dirhams per square foot.

In sixth place was the sale of a residential apartment plot on “Island 2” with a total value of AED137.35 million, with an area of 11,654 thousand square feet, at 11,785 dirhams per foot.

The deal to sell land for residential purposes in the “Al Habiyah Six” area was the seventh, with a value of AED122.308 million, for an area of about 242.19 thousand square feet, at a rate of 505 dirhams.

In eighth place was the sale of a plot of land for residential purposes in Dubai Maritime City, valued at AED120.50 million, with an area of 40.01 thousand square feet, at 3,011 dirhams per square foot.

The ninth deal was the sale of a plot of land for commercial purposes in the “Warsan 4” area, at a value of AED120.318 million, for an area of 68,540 thousand square feet, at a rate of 173 dirhams per foot.

The tenth was a deal to sell a plot of land for commercial purposes in the “Warsan 4” area for a value of AED113.989 million, for an area of 572.42 thousand square feet, at a rate of 198.9 dirhams per square foot.

“The real estate market in the Emirate of Dubai made a new record start at the beginning of this year, with the continued factors supporting the growth of investments and residential demand,” said real estate expert Walid Al Zarooni, W Capital CEO.

He pointed out that the rise in the values of real estate transactions, especially land and residential apartments, reflects the strong momentum within the Dubai real estate market. He noted that Dubai witnessed a large influx of wealthy foreigners aspiring to settle and invest in commercial activities, especially the thriving real estate sector that is achieving record profits. The ease of doing business, buying and selling, as the market matures and reaches the best international standards, boosts this trend.

Al Zarooni stated that the offers presented by real estate developers to seize a good segment of customers, as well as, the strong investment demand to benefit from profitable returns, supported the historical real estate sales numbers exceeding AED400. He stressed that the real estate market is reaping the fruits of Dubai global leadership, and it is likely that sales this year will range between AED450 -500bn.

He said that despite the significant rises in prices over the last three years, the sector is still full of attractive investment opportunities, and experienced, trustworthy real estate brokers can be busy acquiring an investment or residential property at the best price.

About “W Capital”:

“W Capital Real Estate Brokerage” was established in 2007 in the United Arab Emirates, specializing in real estate development, buying, selling, renting as well as consulting services for real estate companies.

Since its inception, the company has sold over AED 200 million of properties to major developers.

About Walid Al Zarooni:

Walid Al Zarooni is the founder and Chairman of W Capital Real Estate Brokerage. A certified real estate expert from the Dubai Real Estate Regulatory Agency “RERA”, he is the author of “Secrets of the Smart Real Estate Investor”.

Al Zarooni is one of the first experts to harness social media to raise the public awareness about real estate. He provides almost free advice on a daily basis, as well as latest news and updated information through videos and posts on social media platforms such as " Instagram ",“ Snapchat " and “Twitter”, on which he is very active.