|16 July, 2019

Emaar takes lion's share of overall property sales in H1 2019, says Property Finder

The master developer leads in both volume and value of registered transactions in the first six months

Highlights include:

  • In the first half of 2019, the Dubai Land Department registered a total of 18,681 total transactions worth AED 40.3 billion
  • Emaar accounted for 30 percent of these transactions 
  • The Burj Khalifa developer contributed 4,756 transactions cumulatively worth AED 13.1 billion in the first six months  

Dubai: Emaar Properties dominated the Dubai real estate landscape in the first six months of 2019, according to Dubai Land Department (DLD) data analysed by Data Finder, a real estate insights and data platform under the Property Finder Group.

The developer of the iconic Burj Khalifa was ahead of the pack, both in terms of transactional volume and value of overall properties registered in H1 2019. This includes residential (apartments, villas/townhouses) and commercial properties.

In the first half of 2019, the Dubai Land Department registered a total of 18,681 total transactions, with Emaar accounting for 30 percent of those deals.

The popular developer is seeing a great deal of interest for projects being built under its joint venture with Meraas, Dubai Hills Estate LLC. Meraas is a local developer responsible for projects like Bluewaters Island, La Mer and City Walk.

Emaar alone accounted for 4,756 transactions cumulatively worth AED 13.1 billion in the first six months. Transactions cumulatively worth AED 40.3 billion were registered in Dubai in the same timeframe, according to DLD statistics.

“Despite many noting the overall price declines across Dubai, we are continuing to see healthy sales numbers, which will continue to fuel the economy as everyone looks toward the Expo 2020,” says Lynnette Abad, Director of Data and Research, Property Finder.

In terms of value, Emaar accounted for almost 40 percent of the total value of transactions in H1. Emaar units were primarily sold in projects such as Downtown Dubai, Dubai Hills Estate, Dubai South, Dubai Creek Harbour, Dubai Harbour and Arabian Ranches 2.

Others in the fray
Other top developers in H1 2019 were Damac Properties, Nakheel, Dubai Properties, Azizi Developments, Seven Tides International, Danube Properties and MAG Group.

A distant second in the number of registered transactions, Damac Properties accounted for 1,476 registered real estate transactions collectively worth AED 1.7 billion. The developer saw good buyer interest in projects like Damac Hills and Aykon City in Business Bay.

Nakheel accounted for 1,129 registered property deals worth AED 2.25 billion in H1. These units were mostly in the Palm Jumeirah and International City. 

Meanwhile, Dubai Properties Group had 868 registered transactions worth AED 1.8 billion. These units were in Dubailand (Arjan, Mudon), Business Bay (Executive Towers), Jumeirah Beach Residence, Remraam and Madinat Jumeirah Living.

Off-plan transactions
In terms of just looking at off-plan transactions, Emaar dominated the volume of this segment, accounting for the lion’s share of 46 percent. It also contributed 61 percent of the value of off-plan transactions in H1 2019. The developer registered 3,590 off-plan transactions cumulatively worth AED 7.6 billion. 

Dubai Hills Estate LLC came second, taking up 11 percent of the volume of off-plan transactions. The Emaar-Meraas JV saw 1,092 off-plan registered transactions worth AED 1.5 billion. 

Damac Properties came third, responsible for 8 percent of the volume of registered transactions. In H1, the developer registered 840 off-plan transactions valued at AED 861.9 million.

This was followed by Azizi Developments, which registered 682 transactions cumulatively worth AED 432.4 million. Dubai Properties Group saw 441 registered transactions worth AED 772.5 million.

About Property Finder – www.propertyfinder.ae 

Property Finder is the leading digital real estate platform in the Middle East and North Africa region that facilitates the house hunting journey for both buyers and renters.

Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages and house hunters to make informed decisions on all things real estate.

A UAE-born startup, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia, Lebanon, Egypt and Morocco, and has a significant stake in the second largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents. 

US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.

The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.

In April 2019, Property Finder announced acquisition of JRD Group, following an increased investment in Turkish portal Zingat.

In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.

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