Real estate price changes and developers' news

Residential property prices increased by 33.4% in January 2022 compared to January 2021.
According to a report by the financial company, EFG Hermes, property prices rose for segments:

Luxury – by 35.1%
Affordable – by 37.2%
Budget – by 15.7%

Average price – 4,614$ per sqm

TOP areas in price growth:

1. Jumeirah
2. MBR City
3. Palm Jumeirah
Emaar announced record numbers for 2021.
Compared to 2020:
  • Revenue increased by 57% (up to $7.7 billion)
  • Net profit increased by 80% (up to $1 billion)
  • Sales inicresed by 209% (up to $9.2 billion)
This is the highest ever property sales recorded by Emaar since its incorporation in 1997.

Earlier, developer announced start of sales of the Bliss 2 project
Damac Properties announced revenue of $817 million in 2021.
Developer took a net loss of $144.6 million. In 2020, the net loss was $175.9 million.

In 2021, Damac delivered 7,400 residential units at Damac Hills and Damac Hills 2 projects.

Sources: The National News, Gulf News