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July 18th 2019

Emaar Properties accounts for one-third of Dubai deals in first half of 2019

Property giant Emmar recorded $3.2 billion Dubai property deals in H1 2019 – the largest share

Emaar Properties accounted for 4,756 deals worth $3.2 billion (AED12.1bn) in the first six months of 2019.

Figures released by Property Finder reveal that the Dubai Land Department (DLD) registered a total of 18,681 transactions in the first half of the year, with Emaar responsible for 30 percent.

Transactions worth $10.7bn (AED40.3bn) were registered in Dubai over the same timeframe, according to DLD statistics – Emaar accounted for almost 40 percent.

Emaar units were primarily sold in projects such as Downtown Dubai, Dubai Hills Estate, Dubai South, Dubai Creek Harbour, Dubai Harbour and Arabian Ranches 2.

A distant second, Damac Properties accounted for 1,476 registered real estate transactions worth $453m (AED1.7bn), with buyer interest in projects like Damac Hills and Aykon City in Business Bay.

Nakheel accounted for 1,129 registered property deals worth $599.9m (AED2.25bn) in H1, mostly in Palm Jumeirah and International City.

Meanwhile, Dubai Properties Group had 868 registered transactions worth $479.9m (AED1.8bn), in Dubailand (Arjan, Mudon), Business Bay (Executive Towers), Jumeirah Beach Residence, Remraam and Madinat Jumeirah Living.

Off-plan

In terms of off-plan transactions, Emaar also dominated the volume of this segment, accounting for the lion’s share of 46 percent. It also contributed 61 percent of the value of off-plan transactions in H1 2019. The developer registered 3,590 off-plan transactions worth $2bn (AED7.6bn).

Dubai Hills Estate LLC came second, taking up 11 percent – the Emaar-Meraas JV saw 1,092 off-plan registered transactions worth $399.9m (AED1.5bn).

Damac Properties was responsible for eight percent of the volume of registered transactions. In H1, the developer registered 840 off-plan transactions valued at $229.8m (AED861.9m).

This was followed by Azizi Developments, which registered 682 transactions worth $115.2m (AED432.4m). Dubai Properties Group saw 441 registered transactions worth $205.9m (AED772.5m).

Figures include residential (apartments, villas/townhouses) and commercial properties.

All rights reserved to the initial publisher for Arabian Business.

Collected and published by propertyeportal.com editorial team. Get in touch with us at [email protected]