Interestingly, sales of Dh100 million-plus plots have become a norm, too, in Dubai in the last year or so
Plot prices in Dubai, especially across prime areas, have doubled, even quadrupled on some plots, in the past two areas and there is hardly any prime land plot available in the emirate as such Jumeirah Bay, say industry executives.
Due to the strong demand for real estate across the emirate in the post-pandemic period, plot sale rates have also skyrocketed on the back of high demand from local and foreign investors and developers as well as end-users to wish to build their own homes.
Interestingly, sales of Dh100 million-plus plots have become a norm, too, in Dubai in the last year or so. According to figures released by Dubai Land Department released on Friday, 189 plots were sold for Dh2.28 billion during this week ended on June 16. The top three transactions were land in Palm Deira for Dh167.88 million, followed by land sold for Dh136 million in Business Bay, and land for Dh125 million in Al Thanyah First.
“There is hardly any prime land available in Dubai at the moment,” says Ahmed Abou El Naga, head of institutional sales of Metropolitan Group.
