Dubai records 244 luxury off-plan property deals worth Dh3.42 billion in July
Developers record strong demand across multiple high-value price brackets
DUBAI – Dubai’s luxury residential market continued to attract substantial investor commitments in July, with developers recording hundreds of high-value off-plan transactions across a wide range of price brackets.
The latest figures show that demand is extending well beyond a handful of ultra-luxury deals, with buyers committing billions of dirhams to apartments and villas.
According to an analysis by Dubai luxury developer Keturah, 244 off-plan residential sales priced above Dh5 million were recorded during the month, with a combined value of Dh3.42 billion.
Apartment demand
Of the total transactions, 151 were off-plan apartment sales worth Dh2.3 billion, while 93 villa transactions generated Dh1.1 billion. The average value of the July deals stood at Dh14 million.
The Dh5 million to Dh10 million segment accounted for the largest number of apartment transactions, with 81 sales worth Dh552.6 million. However, higher-value transactions made a sizeable contribution to the overall market, with DXBinteract data showing 41 apartment sales between Dh10 million and Dh20 million, together worth Dh593.6 million.
A further 24 apartment transactions in the Dh20 million to Dh50 million range generated Dh708.5 million. Four apartment sales were recorded between Dh50 million and Dh100 million, averaging Dh69.9 million each, while one apartment transaction reached Dh166 million.
Villa market
Villa demand also remained concentrated across several premium price bands. There were 60 villa sales between Dh5 million and Dh10 million, with a combined value of Dh387.4 million.
Another 22 transactions in the Dh10 million to Dh20 million bracket generated Dh317.2 million, while 10 villa sales priced between Dh20 million and Dh50 million were worth Dh334.1 million. One further villa transaction reached Dh72.7 million.
The latest figures form part of a broader three-month trend. Between May and July, Dubai developers recorded 942 off-plan residential sales above Dh5 million, with a combined value of Dh12.11 billion. The average transaction value during the period was Dh12.9 million.
Ready homes
Demand was also evident in Dubai’s completed luxury residential market. Developers recorded 43 ready-property transactions above Dh5 million in July, with a combined value of Dh552.8 million and an average transaction value of Dh12.9 million.
Keturah currently has two luxury communities under development in Dubai. These include Keturah Reserve, a Dh5.7 billion bio-living community in District 7, Mohammed Bin Rashid City, and the Ritz-Carlton Residences at Keturah Resort on the shores of Dubai Creek, adjacent to the Ras Al Khor Wildlife Sanctuary.
The developer said the latest sales figures reflect continued substantial capital commitments to Dubai’s residential property sector, with transactions spanning mainstream luxury brackets through to properties valued at more than Dh100 million.