Covid: Worst is over for Dubai real estate market

Covid: Worst is over for Dubai real estate market

Dubai's real estate started 2021 on a strong note, as traditional areas of Dubai witnessed good buying and selling activity in the first two months of the year.

Developers believe that Covid-19's short-term impact will not prove to be a drag on the real estate sector, which is a long-term business, hence, the worst is over for the sector. With big developers holding back new project launches, smaller developers are witnessing less competition, which is also aiding the recovery.

A real estate bulletin issued by the Dubai Land Department (DLD) on Monday said that Dubai Marina, Business Bay, Palm Jumeirah and the Burj Khalifa were the most attractive areas for apartment sales in the first two months of 2021.

Al Thanyah Fifth also made it to the top five areas in January and Al Merkadh in February 2021.

Nad Al Sheba topped the list in January for villa sales, followed by Hadaeq Sheikh Mohammed Bin Rashid, Wadi Al Safa 5, Al Yelayiss 1, and Jumeirah 1. While Hadaeq Sheikh Mohammed Bin Rashid, Dubai Investment Park 1, Wadi Al Safa 7, Al Thanyah Fourth, and Wadi Al Safa 5 topped the list in