Dubai Marina tops in terms of sales in 2019 at Dhs8.67 billion

Business Bureau, Gulf Today

The attractive offers by the real estate market in Dubai continued last year to benefited investors, end users and tenants alike. This led to the continuation of momentum on these vital areas with competitive prices, which reflects the right track in the real estate market in light of the availability of an enabling environment for profitable deals.

Walid Al Zarouni, a real estate expert, Chairman  of W Capital Real Estate Brokerage has reviewed the best ten selling real estate areas  in Dubai according to the latest data issued by the Dubai Land Department (DLD) .

“It is noticed that demand for investments in the freehold areas  was still  strong, especially by non-citizen investors, over the past ten years. The  highest demand was focused in the areas  of  Dubai Marina, Burj Khalifa, First Khiran, Sheikh Mohammed Bin Rashid Gardens, Al-Merkadh , Business Bay, and Palm Jumeirah.

Al Zarouni said that recent DLD statistics showed that the Dubai Marina area topped in terms of sales value during the past year where about 3366 units were sold, valued at Dhs8.67b. This  area is one of the most popular residential areas for citizens and expats  ,as well as business owners alike .It is attractive because of  the availability of a modern lifestyle and abundance of all amenities and tranquility with its view of the Dubai Marina.

It includes a large number of luxury apartments offered for rent in the Marina, in addition to its proximity to the most prominent marine attractions and free zones, such as the Dubai Media City , Internet City and Knowledge Village.

DLD data showed that the Burj Khalifa area (Downtown Dubai) came second in terms of sales valued at Dhs7.894b  for over 2368 units. This area is considered the most prestigious, the largest and best square kilometer in the world, characterized by integration of all modern and luxurious lifestyles . The Down Town area combines all that is dazzling and exceptional of the glittering present and the glorious past through the apartments offered for sale in Burj Khalifa, the highest building built by man and the tallest tower in the world with a height of 828 meters which  is considered one of the best tourist destinations in Dubai.

According to DLD statistics, Sheikh Mohammed bin Rashid Gardens area came third with a value of Dhs4920b  for 2430 units sold. “Wadi Al Safa 5” ranked fourth with a value of Dhs541bn for 1993 units, followed by “First Alkhiran”  in the fifth place  with 2495  units sold  worth  Dhs4.410b.  Business Bay came in sixth place with a value of Dhs4.79b  for  2999 units sold, then the Palm Jumeirah area ranked seventh with Dhs 3.741bn for 914 units sold.

Al-Merkadh area ranked eighth with a value of Dhs2.680b  selling over 1711 units, followed by Al Barsha South  the Fourth, with a value of Dhs2.306b for 1844 units. In the tenth place was the First Jumeirah area with a value of Dhs2.246b selling 764 units.

The DLD data showed that the value of the real estate units sold in the last year was Dhs 81b, distributed over 40249 properties.

Walid Al-Zarouni said that there are 5 main reasons that prompted these areas to achieve good selling rates, the first of which is the strategic location and its proximity to the vital Dubai and business areas.