Most popular off-plan projects in 2019
Developer Seven Tides’ Seven City project in Jumeirah Lakes Towers registered 528 off-plan transactions in 2019, making it Dubai’s most popular off-plan building based on sales transaction volume, according to new research.
Figures released by Data Finder, the real estate data platform from the Property Finder Group, showed the second most popular off-plan building in 2019 was Emaar’s 78-storey Grande tower in the Opera District in Downtown Dubai.
The building, one of the tallest being built in Downtown Dubai, clocked 446 off-plan transactions in 2019.
Dubai witnessed strong off-plan property sales in 2019, with the volumes during the first nine months of the year alone reaching 16,056 units – compared to 12,979 for the whole of 2018.
The project that saw the most number of off-plan sales transactions last year – 528 – was the Se7en City tower in Cluster Z of Jumeirah Lakes Towers developed by Seven Tides, according to Data Finder, part of the Property Finder Group
Se7en City studios start from AED 400,888/-
The second most popular off-plan project in 2019 was Emaar’s 78-storey Grande tower in the Opera District in Downtown Dubai. The luxury residential tower, one of the tallest being built in Downtown Dubai, recorded 446 off-plan transactions in 2019.
The third and fourth on the list were also Emaar projects. While Creek Edge Tower 1 in Dubai Creek Harbour registered 388 off-plan transactions, Burj Royale in Downtown Dubai accounted for 350 off-plan sales, the report stated.
Other popular off-plan projects in 2019 were Al Mazaya Holding’s Q-Zone in Queue Point – Liwan (328 transactions), Damac Properties’ Reva Residences in Business Bay (299 deals), Deyaar’s Bella Rose in Dubai Science Park (253 deals) and Emaar’s Palace Residences in Dubai Creek Harbour (237 deals).
Rounding off the top 10 were Damac’s Paramount Tower Hotel and Residences in Business Bay (230 deals) and its Aykon City Tower C in Business Bay (227 off-plan transactions).
Secondary market
The project which registered the highest volume of sales on the secondary market was Al Khail Heights 9a-9b with 213 transactions, according to the report.
Danube Properties’ Starz Tower 2 project in Al Furjan, approaching completion, recorded 204 transactions while Tower 1 registered 189 deals.
The First Group’s Sky Central Hotel in Barsha Heights (135 transactions) and Royal Amwaj Residences North on the Palm Jumeirah (133 deals) rounded off the top five most popular buildings on the secondary market in Dubai last year.
They were followed by Damac Properties’ Ghalia Constella in Jumeirah Village Circle (113 transactions), National Properties’ Eden Apartments in Motor City (108 deals), The Atria in Business Bay (97 deals), South Residences in JVC District 13 (74 transactions) and Bluewaters Residences Building 2 on Meraas’ Bluewaters Island (73 deals).
“What is interesting to point out in this data is how the popular buildings in the secondary market were all in the very affordable range while in the off-plan segment, the majority of the popular buildings were in the luxury market,” said Lynnette Abad, director of Data and Research, Property Finder.