Dubai luxury property demand holds as buyers commit AED3.42bn

Dubai developers recorded 942 off-plan residential transactions above $1.36 million (AED5 million) during the past three months.

Dubai developers recorded 244 off-plan residential sales above $1.36 million (AED5 million) during July. Combined transaction value reached $931.2 million (AED3.42 billion), according to an analysis by luxury developer Keturah.

Apartment transactions accounted for 151 sales worth $626.3 million (AED2.3 billion). Developers also completed 93 villa deals generating about $299.5 million (AED1.1 billion). Average value across July’s off-plan luxury transactions stood at $3.81 million (AED14 million).

Demand extended through several luxury price bands. Buyers committed capital from properties priced above $1.36 million (AED5 million) to individual transactions exceeding $45 million (AED165 million).

Apartment sales extend into ultra prime pricing

Developers sold 81 apartments priced between $1.36 million (AED5 million) and $2.72 million (AED10 million). Those transactions generated $150.5 million (AED552.6 million).

DXBinteract data recorded another 41 apartment sales between $2.72 million (AED10 million) and $5.45 million (AED20 million). Combined value reached $161.6 million (AED593.6 million).

Another 24 transactions between $5.45 million (AED20 million) and $13.61 million (AED50 million) produced $192.9 million (AED708.5 million).

Developers also completed four apartment sales in the $13.61 million (AED50 million) to $27.23 million (AED100 million) bracket. Average value across those four properties reached $19 million (AED69.9 million).

One apartment changed hands for about $45.2 million (AED166 million), the highest disclosed off-plan apartment transaction in the July data.

Villa buyers commit capital across higher price bands

Villa sales maintained activity across Dubai’s premium residential categories during July.

Developers completed 60 villa transactions between $1.36 million (AED5 million) and $2.72 million (AED10 million). Combined sales value reached $105.5 million (AED387.4 million).

Another 22 villas sold between $2.72 million (AED10 million) and $5.45 million (AED20 million). Those deals generated $86.4 million (AED317.2 million).

Ten further properties in the $5.45 million (AED20 million) to $13.61 million (AED50 million) range produced $91 million (AED334.1 million).

One villa sold for approximately $19.8 million (AED72.7 million).

Talal M. Al Gaddah, CEO and Founder of the Keturah luxury brand, linked the transaction volumes to sustained investor demand.

“Dubai’s luxury market is demonstrating a depth of demand that goes beyond individual high-value transactions,” Al Gaddah said.

“Investors are continuing to commit substantial capital to Dubai residential property because they see that the city’s long-term fundamentals, international appeal and investment proposition remain strong.”

Three-month luxury sales exceed $3.2bn

Dubai developers recorded 942 off-plan residential transactions above $1.36 million (AED5 million) during the past three months.

Combined value reached about $3.3 billion (AED12.11 billion). Average consideration stood at approximately $3.51 million (AED12.9 million) per property.

July’s figures also show continued demand for completed luxury housing. Developers recorded 43 ready property transactions above $1.36 million (AED5 million) during the month.

Ready property sales generated $150.5 million (AED552.8 million), with an average transaction value of approximately $3.51 million (AED12.9 million).

Off-plan transactions remained the larger source of disclosed luxury developer sales during July, based on the figures supplied by Keturah.

Keturah advances two Dubai luxury communities

Keturah has two luxury residential communities under development in Dubai.

Keturah Reserve carries a development value of about $1.55 billion (AED5.7 billion). The bio living community sits in District 7 of Mohammed Bin Rashid City.

Ritz-Carlton Residences at Keturah Resort is under development on Dubai Creek. The project is adjacent to Ras Al Khor Wildlife Sanctuary.

Both developments position Keturah within Dubai’s premium residential pipeline as developers continue securing high-value off-plan commitments across apartments and villas.