Latest news with #LaTilia
Mid East Info
04-03-2025
- Business
- Mid East Info
Dubai property market enjoys bumper month as February sales hit AED51.1 billion - Middle East Business News and Information
Villa sales soar by 99% as 16,099 overall transactions solidify city's status as top destination for property investment. Dubai, UAE, 4th March, 2025: Dubai's real estate market has continued its strong start to 2025, with property sales in February totalling AED 51.1 billion, a 39.91% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month's total of 16,099 transactions also represented a 35.5% increase in volume over February 2024, making it one of the best ever months on record. Data from DXBinteract shows that villa sales totalling AED18.8 billion climbed dramatically by 99.7% to 3,679 compared with February last year, while plot sales worth AED9.6 billion also soared in volume by 74.7% to 608. Apartment sales worth AED21.4 billion climbed 21.3% in volume to 11,364, while a total of 447 commercial property transactions amounting to AED1.2 billion represented a 40.1% increase in volume over February 2024. The average price per sq. ft was up by 3.4% to AED 1,551. '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 property sales for the month of February have now risen by 449% in value over the last five years – from AED9.3 billion (4,100 transactions) in 2020, AED7.3 billion (3,700) in 2021, AED15.4 billion (6,200) in 2022, AED27.1 billion (9,400) in 2023 and AED36.5 billion (11,900) last year. The most expensive individual property sold in February was a luxury villa at Hadaeq Sheikh Mohammed Bin Rashid which fetched AED140 million. The most expensive apartment sold during the month went for AED116 million at The Rings – 1 at Jumeirah Second. Overall, first sales from developers were significantly greater than those of resales – 66% over 34% in terms of volume, and 62% against 38% in overall value. With properties worth more than AED5 million accounting for 9% of total sales, 31% came in the AED1-2 million range, 25% below AED1 million, 19% between AED2-3 million and 15% between AED3-5 million. FEBRUARY 2025 – Top five performing areas in terms of overall sales volume Wadi Al Safa 5 1,297 units Jumeirah Village Circle 1,246 Dubai Marina 915 Business Bay 878 Dubai South 819 BEST-SELLING PROJECTS Off-plan apartments Units Value AED Franck Muller Vanguard 250 436.9m Golf Dale 162 297.4m Saria 139 395.2m Golf Acres 134 243.9m Skyscape 131 321.2m Off-plan villas La Tilia At Villanova Phase 2 205 678.7m La Tilia At Villanova Phase 1 195 647.2m Reportage Village 1 175 226m The Valley – Kaia 106 318.1m Nad Al Sheba Gardens Phase 7 90 455.1m Ready apartments Lakeside 51 19.7m P23 45 14.9m Falcon Tower 40 111.4m KhK 24 35 17.8m Sky Courts 33 20.7m Ready villas Nad Al Sheba Gardens Phase 7 63 889.5m Reem – Mira Oasis Community 16 46.1m Reem – Mira Oasis Community 3 11 35.7m Greenview 2 10 27.6m Reem – Mira Oasis Community 2 9 26m Ends
Gulf Business
04-03-2025
- Business
- Gulf Business
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
Mid East Info
05-02-2025
- Business
- Mid East Info
Dubai property market enjoys big start to 2025 as January sales hit AED44.4 billion - Middle East Business News and Information
Land sales show biggest increase, as 14,236 overall transactions underline city as prime destination for property investment Dubai, UAE, 5th February, 2025: Dubai's real estate market has made a strong start to 2025, with property sales in January totalling AED 44.4 billion, a 24.1% increase in value on the same month last year. A market update issued today by fäm Properties reveals that last month's total of 14,236 transactions also represented a 23.2% increase in volume over January 2024. Land sales for January showed the biggest increase, with 811 plots – a 151.9% month-on-month leap in volume – selling for AED8.6 billion. Villa sales totalling AED16.4 billion also climbed sharply in volume by 89.6% to 3,117 compared with January last year, and apartment sales worth AED18.2 billion were up 7.1% in volume to 9,945. A total of 363 commercial property transactions amounting to AED1.2 billion represented a 17.9% increase in volume over January 2024. While the average price per sq. ft was down slightly by 4% to AED 1,550, it still represents an 81.2% increase over the last five years, from AED855 in January 2020. 'The figures once more emphasize the strength of Dubai's real estate market and the consistent growth seen in recent years,' said Firas Al Msaddi, CEO of fäm Properties. 'This underlines Dubai's status as a secure destination for real estate investment which continues to build investor confidence and draw interest from the local, regional and international markets.' Dubai property sales for the month of January have now risen by 822% in value over the last five years – from AED4.8 billion (2,700 transactions) in 2020, AED6.6 billion (3,300) in 2021, AED16.3 billion (5,700) in 2022, AED27.8 billion (9,700) in 2023 and AED35.8 billion (11,600) last year. The most expensive individual property sold in January was a luxury villa at Dubai Hills Estate which fetched AED140 million. The most expensive apartment sold during the month went for AED57 million at Ava At Palm Jumeirah By Omniyat. Overall, first sales from developers were significantly greater than those of resales – 65% over 35% in terms of volume, and 60% against 40% in overall value. With properties worth more than AED5 million accounting for 9% of total sales, 31% came in the AED1-2 million range, 27% below AED1 million, 20% between AED2-3 million and 14% between AED3-5 million. JANUARY 2025 – Top five performing areas in terms of overall sales volume Wadi Al Safa 5 1,400 units Jumeirah Village Circle 982 Dubai South 942 Al Yelayiss 1 868 Business Bay 761 BEST-SELLING PROJECTS Off-plan apartments Units Value AED Terra Heights 493 891.1m Verdes By Haven 1 155 296.4m Lacina 150 313.3m Claydon House By Ellington 113 238.7m Diamondz By Danube 103 265.3m Off-plan villas La Tilia At Villanova Phase 2 106 346.7m La Tilia At Villanova Phase 1 103 327.7m Reportage Village 70 101.9m The Valley – Velora 56 182.4m Greenville 2 55 209.5m Ready apartments Remraam 43 34.2m Rukan 37 27.2m Maya 2 36 25m Lakeside 35 14.5m Sky Courts 30 18.4m Ready villas Reem – Mira Oasis Community Phase 2 10 29.4m The Fields At D11 MBRC 9 35.7m Reem – Mira Oasis Community 8 22.6m Shams Townhouses 8 21.1m Seasons Community – Autumn 8 20m Ends
