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Dubai real estate sales hit Dhs51.1bn in February; see top performing areas

Image: Supplied Dubai's real estate market maintained its momentum in February, with total property sales reaching Dhs51.1bn, marking a 39.91 per cent increase in value compared to last year. According to a market update issued by fäm Properties, the city recorded 16,099 transactions last month, a 35.5 per cent increase in volume over February 2024, making it one of the best-performing months on record. Data from Apartment sales accounted for Dhs 21.4bn, with a 21.3 per cent increase in volume to 11,364 units. Meanwhile, commercial property transactions totalled Dhs 1.2 billion from 447 deals, reflecting a 40.1 per cent rise in volume. The average price per square foot climbed by 3.4 per cent to Dhs1,551. 'The data once again highlights the robust nature of Dubai's real estate market and the steady growth it has experienced over the past few years,' said Firas Al Msaddi, CEO of fäm Properties. 'This reinforces Dubai's position as a safe and reliable hub for real estate investment, further boosting investor trust and attracting attention from local, regional, and global markets.' Dubai's February property sales have seen a 449 per cent increase in value over the past five years, growing from Dhs9.3bn (4,100 transactions) in 2020 to Dhs36.5bn (11,900 transactions) in 2024. The most expensive transaction in February was a luxury villa in Hadaeq Sheikh Mohammed Bin Rashid, which sold for Dhs 140m. The most expensive apartment sale was at The Rings – 1 in Jumeirah Second, fetching Dhs 116m. First-time sales from developers significantly outpaced resales, making up 66 per cent of transactions by volume and 62 per cent by value. Read: Market segmentation Properties over Dhs5m: 9 per cent of total sales Dhs1-2m range: 31 per cent Below Dhs1m: 25 per cent Dhs2-3m: 19 per cent Dhs3-5m: 15 per cent Dubai's top five performing areas (by sales volume) Wadi Al Safa 5 – 1,297 units Jumeirah Village Circle – 1,246 units Dubai Marina – 915 units Business Bay – 878 units Dubai South – 819 units Best-selling projects Off-Plan apartments Franck Muller Vanguard: 250 units | Dhs436.9m Golf Dale: 162 units | Dhs297.4m Saria: 139 units | Dhs95.2m Golf Acres: 134 units | Dhs243.9m Skyscape: 131 units | Dhs321.2m Off-Plan villas La Tilia At Villanova Phase 2: 205 units | Dhs678.7m La Tilia At Villanova Phase 1: 195 units | Dhs647.2m Reportage Village 1: 175 units | Dhs226m The Valley – Kaia: 106 units | Dhs318.1m Nad Al Sheba Gardens Phase 7: 90 units | Dhs455.1m Ready apartments Lakeside: 51 units | Dhs19.7m P23: 45 units | Dhs14.9m Falcon Tower: 40 units | Dhs111.4m KhK 24: 35 units | Dhs17.8m Sky Courts: 33 units | Dhs20.7m Ready villas Nad Al Sheba Gardens Phase 7: 63 units | Dhs889.5m Reem – Mira Oasis Community: 16 units | Dhs46.1m Reem – Mira Oasis Community 3: 11 units | Dhs35.7m Greenview 2: 10 units | Dhs27.6m Reem – Mira Oasis Community 2: 9 units | Dhs26m