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Tag: Dubai South

  • Dubai South and Majid Al Futtaim Launch Dh62 Billion Mixed-Use Community

    Dubai South and Majid Al Futtaim Launch Dh62 Billion Mixed-Use Community

    The new development will be located near Al Maktoum International Airport in Dubai South, featuring a diverse range of residential, retail, and lifestyle units across 22 million square feet. The project will be anchored by a large shopping mall, marking one of the most significant partnerships in Dubai’s evolving urban landscape.

    A growing number of developers are concentrating on the Dubai South area in anticipation of Al Maktoum International Airport’s opening, which will become the world’s largest airport upon completion.

    “Dubai continues to demonstrate the resilience and strength of its economy through strategic developments that reinforce its position as a global destination for investment, business, and quality living,” said Nabil Al Kindi, Group CEO of Dubai South.

    Ahmed Galal Ismail, CEO of Majid Al Futtaim Holding, emphasized the development underscores the company’s long-term confidence in Dubai’s growth trajectory and its commitment to creating destinations that deliver lasting economic value.

    “Dubai South is emerging as the next major chapter in the city’s development. Dubai continues to set a global benchmark for resilience and ambition, and our collaboration with Dubai South is a strategic investment in the emirate’s future, helping to build its next economic hub through an integrated destination that brings together retail, entertainment, hospitality, and residential experiences within one of Dubai’s fastest-growing urban hubs.”

    Dubai South represents one of Dubai’s largest master-planned urban developments, spanning 145 square kilometres and centred around Al Maktoum International Airport. The strategic location positions the new community within a rapidly expanding economic zone designed to support Dubai’s long-term growth ambitions.

    With owned assets valued at $20 billion, Majid Al Futtaim holds the highest credit rating (BBB) among privately held companies in the region. The company operates 29 shopping malls, including the flagship Mall of the Emirates, Mall of Egypt, and Mall of Oman, as well as the iconic City Centre destinations.

    The announcement comes as Dubai’s property market recorded over Dh180 billion in transactions during the first quarter of 2026, reflecting sustained momentum across multiple sectors. The partnership between Dubai South and Majid Al Futtaim signals continued developer confidence in the emirate’s real estate landscape, particularly in strategically positioned master-planned communities.

    The Dh62 billion investment adds to a series of major announcements that have characterized Dubai’s property sector in recent months, with developers launching projects across the emirate despite regional geopolitical challenges. The scale of the development underscores the strategic importance of Dubai South as a future economic hub, particularly as infrastructure projects such as the $9 billion Gold Line Metro expansion enhance connectivity across the emirate.

  • Dubai Off-Plan Sales Drive $10.18 Billion Residential Market in April

    Dubai Off-Plan Sales Drive $10.18 Billion Residential Market in April

    Dubai’s residential sector maintained stable activity levels through April despite a more measured global investment environment, with transaction values increasing 0.46% compared to March 2026.

    Off-Plan Segment Accounts for AED28.55 Billion

    Off-plan activity remained the primary driver of market performance during the month, recording 9,990 transactions worth AED28.55 billion and representing 76.39% of total transaction value. The segment continues to benefit from demand for newly launched communities, phased payment structures, and infrastructure-led residential development.

    Dubai’s market performance through April once again reinforced the strength of the city’s long-term fundamentals. Despite broader geopolitical uncertainty, liquidity remained healthy, transaction activity held steady and investor participation across key residential corridors continued to reflect confidence in Dubai’s long-term growth trajectory.

    Farooq Syed, CEO of Springfield Properties, emphasized sustained confidence despite regional challenges.

    Secondary Market Records 3,072 Transactions

    Dubai’s secondary real estate market contributed AED8.83 billion across 3,072 transactions, with activity concentrated in established residential communities supported by end-user demand and long-term ownership confidence.

    Residential activity remained concentrated across several key master-planned communities. Dubai South recorded the highest transaction volume with 1,140 deals, followed by Jumeirah Village Circle with 797 transactions and Dubai Islands with 693 transactions. DAMAC Lagoons and Dubai Creek Harbour also maintained healthy activity levels.

    Pricing Holds Firm Across Segments

    Residential pricing remained broadly firm during April. Off-plan apartments averaged AED2,111 per square foot, while off-plan villas reached AED2,293 per square foot. Secondary villas maintained premium positioning at AED2,406 per square foot, reflecting sustained demand for completed family-oriented communities.

    Properties priced between AED1 million and AED3 million represented 53.62% of transactions with recorded sale values, while higher-value segments above AED5 million maintained stable activity levels.

    Commercial Sector Records AED10.35 Billion

    Beyond residential, Dubai’s commercial real estate market recorded AED10.35 billion across 963 transactions during April. Office transactions alone accounted for AED3.34 billion across 428 deals, reinforcing occupier and investor demand across established business districts and mixed-use commercial corridors.

    The report noted that recent updates to Dubai’s property-linked residency requirements are expected to support broader market participation over the medium term, particularly across affordable and mid-market residential segments.

    Dubai continues to strengthen its position as a global destination for capital, business and long-term residency. What differentiates the market today is not only resilience, but also the consistency of the city’s long-term vision, infrastructure investment, regulatory clarity and ability to sustain confidence through changing global conditions.

    Syed concluded that activity levels are expected to remain supported by population growth, strategic development, and sustained international demand across both residential and commercial sectors as market conditions continue to stabilize.

    The April figures align with broader market trends documented across the first quarter of 2026, when Dubai’s property sales exceeded Dh180 billion, reinforcing the emirate’s position as a global real estate destination.

  • Dubai Real Estate Records Dh48 Billion in April Sales

    Dubai Real Estate Records Dh48 Billion in April Sales

    Transaction volumes rose 3.5% month-on-month, while overall deal value climbed 10.7%, pointing to continued strength in higher-value segments, according to data from fäm Properties released on May 4, 2026.

    The performance comes at a time of heightened geopolitical tensions and global economic uncertainty, yet Dubai continues to attract strong capital inflows, supported by its reputation as a safe, transparent and well-regulated investment hub.

    Primary market dominates activity

    The primary market remained the clear driver of activity, with 10,563 transactions worth Dh35.8 billion, compared with 3,414 resale deals valued at Dh12.2 billion, according to DXBinteract. The continued strength of off-plan sales reflects investor appetite for new projects and expectations of future capital appreciation.

    “April’s performance reflects the market’s underlying strength, with steady demand across both residential and commercial segments,” said Firas Al Msaddi, noting that the emirate continues to benefit from its global positioning as a stable destination for investors.

    Apartments led the market with 11,377 transactions worth Dh24.1 billion, up 6.5% month-on-month, while plot sales surged 34.7% to Dh6.6 billion, indicating strong interest in land development opportunities. Commercial real estate also posted robust gains, with 561 transactions worth Dh4 billion, rising sharply both year-on-year and from March, signalling renewed business activity.

    Regional hotspots and luxury deals

    Dubai South retained its position as the top-performing area for the second consecutive month, recording 1,171 transactions worth Dh2.7 billion, followed by Jebel Ali First and Al Barsha South Fourth. Dubai Islands emerged as a high-value hotspot, generating Dh2.8 billion in sales, reflecting rising demand for premium waterfront developments.

    Luxury transactions continued to capture attention, with the most expensive apartment selling for Dh171 million at Aman Residences in Jumeirah. Other high-end deals included Dh122 million at Baccarat Residences in Downtown Dubai and Dh118 million at Marsa Dubai, while the top villa sale reached Dh76 million at Eden Hills.

    The bulk of transactions remained concentrated in the mid-market segment, with properties priced between Dh1 million and Dh2 million accounting for 34.7% of sales. Units below Dh1 million made up 23.3%, highlighting continued demand from first-time buyers and investors targeting rental yields, while properties above Dh5 million accounted for nearly 12%.

    Signs of price moderation emerge

    Average property prices rose 16.1% year-on-year to Dh1,840 per square foot, although recent indicators suggest the pace of appreciation is beginning to ease after a multi-year rally.

    Data from ValuStrat indicates that its residential capital values index declined 3.8% in the first quarter of 2026 to 229.2 points, marking the first quarterly contraction since 2020. Market experts say the dip reflects a natural adjustment following sharp gains over the past three years rather than a downturn, as increased supply and shifting investor preferences begin to temper price growth.

    “The moderation in prices is a healthy development and points to a more sustainable growth trajectory. Transaction volumes remain strong, liquidity is robust, and the fundamentals underpinning demand — from population growth to foreign investment — are firmly intact,” a Dubai-based analyst said.

    With Dubai’s population having crossed the four million mark and new project launches continuing across emerging districts, the outlook for the sector remains broadly positive. Industry stakeholders expect the market to maintain steady momentum through 2026, supported by strategic initiatives such as the Dubai Economic Agenda D33 and the emirate’s expanding role as a global hub for business and investment.

    The April performance follows a strong first quarter, during which the emirate recorded over Dh180 billion in property transactions, reinforcing its position as one of the world’s most resilient real estate markets.

  • Dubai South Awards Dh2 Billion Contract for HAYAT Residential Project

    Dubai South Awards Dh2 Billion Contract for HAYAT Residential Project

    Dubai South Properties, the real estate development arm of Dubai South, confirmed the appointment of Mohammed Abdulmohsin Al Kharafi & Sons LLC for the contract, which will cover several phases of HAYAT by Dubai South, a master-planned development spanning 10 million square feet.

    The project is located near Al Maktoum International Airport, adjacent to the Golf District, and is planned as an integrated community focused on balanced living and wellness-oriented amenities.

    HAYAT will include around 2,500 residential units, ranging from one- to five-bedroom layouts. The mix will feature townhouses, semi-detached and standalone villas, mansions, apartments and hotel apartments.

    Nabil Al Kindi, Group CEO of Dubai South, said:

    Since its launch in 2025, the project has witnessed strong demand and interest, driven by its unique positioning and wellness-inspired features. Through this development, we are focused on creating a well-balanced community that combines quality living, connectivity, and lifestyle-driven amenities, while reinforcing Dubai South’s position as a key destination for residents and investors.

    The homes are designed with a minimalist architectural style, offering privacy, flexibility and contemporary living spaces.

    The development will also include amenities such as parks, shaded walking trails, play areas, outdoor recreation spaces, fitness facilities, community pools and landscaped gardens. Plans also include lagoons, a scenic lake, a community mall and a retail boulevard with shops, cafés and essential services.

    The location offers access to major roads and economic hubs, including Al Maktoum International Airport, Sheikh Mohammed bin Zayed Road, Emirates Road, Jebel Ali Free Zone and Dubai South Free Zone.

    Construction is scheduled to begin in the second quarter of 2026, with initial phases expected to be completed by 2028.

    Dubai South said it continues to expand its residential ecosystem with facilities including parks, sports courts, retail outlets, a 50,000-square-foot hypermarket, a mosque, a petrol station, and a public bus route linking to the Expo Metro station. The area also includes a GEMS Founders School, and a 200,000-square-foot mall is under development.

    The Dh2 billion HAYAT project adds to Dubai’s expanding residential pipeline as the emirate continues to attract investor interest. Earlier in March, Futura EDGE launched Oak Yard Residences in JVC, while BEYOND Developments unveiled an 8 million sq ft masterplan at Dubai Maritime City, reflecting the sustained momentum across multiple districts.