Dubai property markets sets new sales record in April - Palm Jebel Ali dominates

Dubai: Dubai’s property market has had its best month ever in April, with transaction values rocking up to Dh62.1 billion. That’s a 94% increase from a year ago as the sales value felt the gains from higher deals involving Palm Jebel Ali villas and homes sold by Emaar at The Oasis.

In fact, demand for these higher priced units meant that PJA sales accounted for 19% of overall sales value in April, while The Oasis helped with 13%, according to data from Property Finder. (This was despite PJA and The Oasis making up less than 2% and 4% of total transaction volumes in the offplan space 'highlighting investor appetite for future-forward, branded communities'.)

That newer and pricier projects and locations in Dubai are providing the base for the latest growth will bring cheer to the wider market. This year, Palm Jebel Ali has succeeded in drawing a steady flow of new investors and their funds.

Offplan sales

Direct-from-developer sales continue to dominate, with April's tally being Dh34.2 billion, a 124% increase from April 2024.

When it comes to secondary sales, April provided Dh28 billion from more than 7,700 transactions, up 67% in value and 66% in volume from April 2024.

"While a landmark Dh1.45 billion land transaction in DMCC-EZ2 for the upcoming Sobha Central development in Jebel Ali stood out, strong resale activity in key communities such as Palm Jumeirah, JVC, and Dubai Marina also contributed significantly to overall transaction value," says the Property Finder report.