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Dubai Real Estate Strong Thanks to Housing Handover Upsurge

Dubai Real Estate Strong Thanks to Housing Handover Upsurge

The health of Dubai’s real estate market is looking great thanks to an upsurge in handovers in the first half of 2017. According to Gulf News, there were 12,525 deliveries in the first half of the year. That is more than double the number of handovers during the same period in 2016 (5,039). Most of these Dubai handovers were apartments, villas, and townhouses (a total of 10,000 units). The remainder were serviced apartments across the city.

Below is a rundown of the communities and areas in Dubai with the most hand-overs.

●Dubai Silicon Oasis (DSO)

– The leader in handovers with 2,740 units. In the next three years, it is expected that around 7,500 additional units will enter the market in DSO. If developers remain on schedule, as many as 3,500 units could be delivered next year alone. The area’s location along with its commercial and residential amenities make it attractive to mid-income families. DSO is also attractive to investors who can expect a 9 percent rental yield.

●Dubailand

– Second in handovers, this area had 2,588 units delivered. In the next 12 months, more than over 50 projects are scheduled for handover in Dubailand. Most of these projects are actually new phases of existing smaller developments.

●International City

– 1,679 units were delivered in the first half of 2017. International City has about 3,600 units in the pipeline that should reach the handover stage by the end of 2020. This community is one of the most affordable communities in Dubai and also offers a 9.3 percent rental yield.

●Downtown Dubai

– Known for iconic structures like the Burj Khalifa and the Dubai Opera, there were 1,411 handovers in Downtown Dubai. Next year, 11 projects are expected to be completed, adding almost 4,900 new units. Popular with families and working singles, the area has an 80 to 85 percent occupancy rate.

●Business Bay

– 869 units were handed over in 2017 in one of Dubai’s core business districts. Over 2,000 apartments are expected to be delivered in next year in Business Bay. Opportunities for investors include hospitality, residential and mixed use properties. Its proximity to the airport, Downtown Dubai and the Dubai International Financial Centre has helped fuel its popularity and stabilize investments.

●Jumeirah Village Circle (JVC)

– 694 units were handed over in this emerging community. With competitive prices and a number of projects still under development, JVC continues to evolve. It is also a popular location for renting, keeping it near the top of the off-plan market.

Now is the Time to Buy in Dubai

Regardless of where you wish to buy, right now is a favorable time to purchase real estate in Dubai. To learn more, contact Elite City at +971 4 501 3656 or leave your inquiry here  for more information. One of our associates will contact you within 48 hours.

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About Elite City

Elite been developing residential projects in the UAE for the past decade. With ten residential towers successfully completed we have handed over 3,500 apartments to our customers.

Ten Completed Towers
3,500 Occupied Apartments
3 Billion AED Elite Stock Sold
Leading Independently Financed Developer