Dubai: Promise and deliver on time – more developers in Dubai are starting to do just that with the fastest finishes taking between 750-1,000 days. That’s the average being set currently by the Top 10 fastest completions in Dubai during 2021, with the developer GPD (for Murano Residence 5) and Rove Hospitality (Rove City Walk) taking the first two spots.
The average completion time that developers who finished their projects last year were 4.4 years. In 2021, Dubai recorded 86 projects being completed out of about 350 live ones. This resulted in 33,000 new title deeds being issued, capping one of the best years for the local freehold market. This year’s final tally should better that by quite some distance.
The Top 10 developers with the fastest project track records in 2021 were cited by the Dubai Land Department at Cityscape Global. Rounding off the Top 5 finisher rankings were Grovy Real Estate Development (for Aria), Jumeirah Hills Development (at Madinat Jumeirah Living) and Iman Developers (for Oxford Boulevard).
“Completion in under 1,000 days should be the benchmark developers should aim for,” said a project manager. “Because what no developer can afford these days is for cost overruns.”