Dubai’s Real Estate Surge Every 18 Hours, a New Project Shapes the Skyline
Property Monitor, a real estate research and data platform, has unveiled a surge in new project launches in Dubai’s property market. In 2024, the market witnesses an average of more than one project daily, translating to a new project emerging every 18 hours.
According to the latest March report from Dubai’s real estate market, as reported by Al Bayan, nearly 10,000 units were launched for sale during March alone. These figures contribute to an impressive total of 34,000 units distributed across 120 projects in the first quarter of the year, maintaining the pace of a new launch approximately every 18 hours.
Despite this substantial market activity, there are no indications of a slowdown in the near future. With the recent announcement of three major developments and the anticipated launch of the “Ghaf Gardens” project by Majid Al Futtaim, the options for investors and end-users are expected to expand further.
However, this surge in new projects presents challenges for developers. Intense competition, heightened buyer expectations, and increased scrutiny in investment choices are factors developers must navigate. Established and larger developers may have an advantage due to their pricing flexibility, while specialized developers focusing on luxury segments also maintain a strong presence, targeting specific markets.
