Emaar Properties reports record 2021 property sales but experts say market has yet to peak – ArabianBusiness.com

Emaar Properties reports record 2021 property sales but experts say market has yet to peak – ArabianBusiness.com

Dubai property developer giant Emaar Properties recording its highest-ever sales in 2021 speaks of a property market rebounding in leaps from an almost five-year slump, industry experts told Arabian Business.

Stakeholders were somewhat divided on whether the market has peaked, with some saying the pace of growth will slow but that demand will remain strong.

“A fresh real estate market cycle began in early 2021 following a 5-year long price decline and a pandemic-driven trough in 2020. Transactional volumes of off-plan homes jumped 60 percent annually in 2021, with a total sales value climbing 109 percent from AED19.7bn in 2020 to AED41.2bn in 2021,” said Haider Tuaima, Head of Real Estate Research at Valustrat.