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- Real estate in Dubai: rising prices, top areas and the largest resort complex
Luxury home prices rose by 41% in Q4 2021 compared to Q3 2021.
Average prices:
- For villas – $2.9 million
- For apartments – $653 million
The most expensive property sold was a mansion in Jumeirah Bay Island. TOP areas with the highest volumes of luxury home sales: 1 Palm Jumeirah ($926 million) 2 Downtown Dubai ($871 million) 3 Business Bay ($680 million)
Around 36,000 residential units are expected to be delivered in Dubai in 2022.
In 2021, 37,000 units were delivered. The gap between supply and demand is expected to narrow.
Sobha Realty closed sales of $1 billion for 2021.
Earlier, developer announced start of sales of The Crest project
The world operator of high end hotels and casinos, Wynn Resorts, unveiled the project of the largest resort in Ras Al Khaimah.
Al Marjan Island It will include hotel with 1000+ rooms, shopping mall, SPA, restaurants and gaming area. Opening – 2026 Sources: The National News, Khaleej Times, Gulf News
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