Dubai, Abu Dhabi see soaring off-plan deals, signaling investor confidence: JLL

Dubai, Abu Dhabi see soaring off-plan deals, signaling investor confidence: JLL

Off-plan transactions in the residential markets of Dubai and Abu Dhabi continued to see a robust growth momentum in the second quarter (Q2) on the back of resurgent investor confidence and robust absorption of newly launched projects, reveals JLL’s Q2 Market overview report.

In Dubai, off-plan residential sales increased by 38 percent in value and 30 percent in volume during Q2 when compared to the same period last year, according to data from Dubai Pulse.

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The majority (57 percent) of the transactions in the category were recorded between Dh 500,000 and Dh 2 million, with investors primarily focusing on studios and one bedroom units in areas like JVC, Dubailand, and MBR City.

Similarly, the off-plan market in Abu Dhabi maintained its strong performance during the quarter. As per data from Quanta, the value of off-plan transactions more than doubled from Dh 1.8 billion in Q2 2022 to Dh 3.8 billion in Q2 2023, with the majority of activity concentrated between Dh 2 million and Dh 3 million, driven by villa transactions on Al Reem Island and Yas Island.

Overall, in the residential segment, the delivery of 7,300 units in Dubai during