Off-Plan Real Estate in Dubai has become more popular
The highest figure for real estate sales was recorded in 2009 and amounted to 81,182 transactions. But in 2022, this record was broken as this number increased to 90,881 transactions.
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According to the real estate developer ZāZEN Properties, the emirate's off-plan property rates increased by 93% last year. This means that many developers are creating new properties to meet buyers' requests, which has contributed to such a large increase in the volume off-plan property.
The launch of a new ecological project called ZāZEN Gardens by ZāZEN Properties will also bring changes to the off-plan Dubai property market. This development will also affect Dubai's new economic programme D33, Dubai's 2040 Master Plan and UAE Net Zero by 2050 Strategic Initiative.
By 2033, the amount for investment and foreign trade is expected to increase to AED 32 trillion. This will become possible with the help of the new economic development programme D33, and will also entail strengthening the position of the UAE as a world financial leader.
From official information it is well-known that foreign buyers are showing more interest in the majority of the off-plan real estate in the emirate.
The maximum number of transactions was completed in 2022 and amounted to 90,881, which was higher than in 2009 at 81,182. This trend gives us the opportunity to assume an increase in demand for off-plan real estate in the future. Based on official data, by 2027 the UAE property market will grow by 8% annually.
