564,072 residential properties are currently being built across Dubai, with the majority due for handover by 2028
The majority of homes currently under construction in Dubai have already been sold, with a new report today showing absorption rates of 90-100 percent for thousands of apartments and villas to be completed this year.
A market analysis by fäm Properties reveals that 564,072 residential properties are currently being built across Dubai, with the majority due for handover by 2028. Of these, 425,863, or 75.5 percent, have been sold to date.
“The fact that around three quarters of apartments and more than eight in ten villas currently under construction have already been sold reflects a market where demand keeps pace with development,” said Firas Al Msaddi, CEO of fäm Properties.
Absorption rate hits 85.4 percent for villas
The overall absorption rate for apartments in Dubai reached 74.1 percent, with 367,514 of 495,775 units sold, rising to 85.4 percent for villas, with 58,349 of 68,297 also sold.
Of the 96,585 homes set to be delivered this year, 80,127,or 82.9 percent, have been sold, with absorption rates of 82 percent for the 91,209 apartments and 95 percent for the 5,376 villas.
Data from DXBinteract also shows 100 percent absorption rates across a number of residential areas for homes to be handed over this year, including apartments in Al Wasl, and villas in Wadi Al Safa 5, Nad Al Sheba First and Al Hebiah Sixth.
Meanwhile, 93.5 percent of the 2,397 apartments to be delivered on Palm Jumeirah this year, along with 92.8 percent of 2,324 at Jumeirah Lakes Towers, have been sold.
“Investors commit to buying properties before completion because they have confidence in Dubai, its transparent regulatory framework and the consistent quality being delivered by developers. Dubai’s population has now surpassed 4.58 million, and it’s now home to more than 80,000 millionaires. All this reinforces Dubai’s position as one of the world’s most attractive destinations to live, work and invest,” added Al Msaddi.
Downtown Dubai and Business Bay post high absorption rates
Homes under construction have also seen high absorption rates at Downtown Dubai, where 92.2 percent of the 6,248 apartments being built have been sold, including 96.6 percent of the 3,981 to be handed over in 2026.
It’s a similar story in Business Bay, where 82.8 percent of 30,317 apartments under construction have been sold, including 88.7 percent of the 16,938 to be delivered this year.
Other areas recording high absorption rates for apartments under construction include Ras Al Khor at 93.5 percent of 6,950, and Al Barsha South 2 at 85 percent of 12,655.
Among the areas with the highest absorption rates for villas are Al Hebiah Fifth, Nad Al Sheba First, Wadi Al Safa 5, Dubai South and Al Yufrah.
Source: economymiddleeast