Why Dubai property agency has one billion reasons to be optimistic in 2021

Why Dubai property agency has one billion reasons to be optimistic in 2021

Dubai-based Luxhabitat Sotheby's International Realty sold over AED1 billion ($272m) worth of properties in the emirate in the first 24 days of this year – 70 percent of the total sales for 2020 - despite the city and the world being in the grip of the coronavirus pandemic.

Chairman and CEO George Azar revealed that the total was made up of 19 properties and included three deals at the iconic One Palm on the Palm Jumeirah, worth over AED70m ($19m); with land, apartment and villa sales at the Bvlgari Resorts & Residences totalling over AED170m ($46.3m).

We present the best performing prime properties in the emirate, based on sales volume and residential transactions

He told Arabian Business: “These are the richest people on this planet, very simply. The names of the buyers are the who's who of the UK, the who's who of Switzerland, the who's who of Austria, the who's who of European families. I would say 90 percent of our buyers are European.”

Further sales were concluded at The Dorchester Residences in Downtown Dubai and the yet-to-be launched first-ever Four Seasons Residences in Dubai, which will