The majority of homes currently under construction in Dubai have already been sold, with a new report showing absorption rates of 90%-100% 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 (75.5%) have been sold to date.
The overall absorption rate for apartments is 74.1%, with 367,514 of 495,775 units sold, rising to 85.4% for villas, with 58,349 of 68,297 also sold.
Of 96,585 homes to be delivered this year, 80,127 (82.9%) have been sold, with absorption rates of 82% for the 91,209 apartments and 95% for the 5,376 villas.
Data from DXBinteract also shows 100% absorption rates across a number of residential areas for homes to be handed over this year, including apartments in Al Wasl (637), and villas in Wadi Al Safa 5 (854), Nad Al Sheba First (235), and Al Hebiah Sixth (476).
Meanwhile, 93.5% of the 2,397 apartments to be delivered on Palm Jumeirah this year, along with 92.8% of 2,324 at Jumeirah Lakes Towers, have been sold.
"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.
"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 that 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.”
Homes under construction have also seen high absorption rates at Downtown Dubai, where 92.2% of 6,248 apartments being built have been sold, including 96.6% of the 3,981 to be handed over in 2026.
It’s a similar story in Business Bay, where 82.8% of 30,317 apartments under construction have been sold, including 88.7% of the 16,938 to be delivered this year.
Other areas recording high absorption rate for apartments under construction include Ras Al Khor (93.5% of 6,950) and Al Barsha South 2 (85% of 12,655), the report said.
Among the areas with the highest absorption rates for villas are Al Hebiah Fifth (98.7% of 2,060), Nad Al Sheba First (98.2% of 1,569), Wadi Al Safa 5 (96.4% of 8,216), Dubai South (94.5% of 5,698) and Al Yufrah (94.7% of 6,429), it said. – TradeArabia News Service