Nakheel sells 217 villas worth AED 800M in 4 hours

New Villa Launches Are Getting Snapped Up

Master developer Nakheel has sold AED 800 million ($218 million) worth of villas in a record four hours, with investors clamouring to snap up new villas at its new Murooj Al Furjan community.

These units have a built-up area of up 4,042 square feet and come fairly competitively priced at AED 2.9 million and upwards. The latest sales feed into growing demand among today’s property investors for bigger sized homes and green spaces to boot.

Nakheel Launches 418- Villa Murooj Al Furjan Community

“The overwhelming response to Murooj Al Furjan highlights investor trust in Dubai real estate, continued buoyancy in the villa sector, and demand for quality homes with excellent onsite amenities.”

Construction of Murooj Al Furjan will begin this year, with anticipated completion in 2024.

The 217 villas were part of the first phase of Murooj Al Furjan. A total of 418 villas are up for grabs at the mixed-use gated community, which is set to be completed in 2024. Prices start at Dh2.9 million.

Dubai’s property sector has been on a tear, bucking even international trends that have seen negative, uneven or tepid growth. Investors have been flocking to the market to snap up a piece of real estate, taking advantage of lower prices over the past year, mainly due to the effects Covid-19 pandemic.

Villas and, in general, properties with spacious areas, emerged to become a very popular draw as tenants seek more convenience in the wake of the disruption brought about by the situation, which saw an unprecedented spike in remote working and studying, among other activities.