With more demand for off-plan and ready properties in Dubai at an all-time high, developers are more determined to win over real estate investors.

In this regard, Firas Al-Masadi, CEO of FIM Real Estate, said: “The availability of more options for buyers in a mature market means that developers are struggling on several fronts to attract their attention.”

“The abundant supply of residential properties is influencing buyers and investors to become more selective when choosing a project, even an individual unit.”

He added: “This is one of the signs of the market’s maturity. As a result, competition between real estate developers is intensifying and determining many vital competitive metrics.”

“The overall value of each proposal is one of the key elements, including lifestyle, living experience, location, and overall the quality, supported by the developer’s brand and reputation.”

“Meanwhile, with real estate values ​​at all-time highs, the total ticket price per unit has become more influential than the price per square foot. Payment plans are especially crucial in the current high borrowing costs.”

Reaching $34 billion in record transactions in the second quarter of 2024 signifies a growing demand for property in Dubai. Meanwhile, supply growth continues, with developers recording 59,000 units this year so far, after a total of 101,000 units last year, which is double the number for 2023.

“Although the off-plan real estate market remains strong, not all developers are taking full advantage of it,” Al-Masadi added.

“Distinctive projects have unique selling points – such as Verve City Walk, which recently sold 427 units in 45 minutes, with the price of a penthouse apartment reaching $8 million.”

“The best sales stories come from developers like Meraas who devote time and resources to knowing the market inside out, planning carefully, and having experienced brokers on their team.”

Al-Masadi concluded his speech by saying: “Smart agents realize that selling the right property to investors to give them the best returns leads to continued business and referrals. While Agents who prioritize higher commissions over the project goals often lose their efforts in the long run.”