Ramadan in the UAE

Material updated: 3.03.2024

Ramadan has major significance in the UAE, as it is the month of reflection, kindness, showing gratitude and spending time with family. Another reason to enjoy the Ramadan period is making the most of attractive discounts in every sector of the economy, and real estate is no exception. There has always been a myth that the real estate market slows during Ramadan, however, it is actually a strong time for property sales. In this article, we will review the aspects that make Ramadan worth considering for property acquisition in Dubai.

According to Dubai REST, the first week of Ramadan (March 23rd–29th) was highly productive, as the DLD registered AED 5.92B (USD 1.61B) worth of sales transactions, with a total of 2,379 properties sold, compared to 2,012 sales deals worth AED 5.3B (USD 1.44B) during the first week of Ramadan (April 1st–7th) in 2022. Such a strong performance demonstrates the confidence that homebuyers have in the Dubai real estate sector and the positive impact of the Golden Visa amendments on property sales.

NBD! In 2023, the DLD introduced the Instant Sale feature, which eliminates the need for audit and significantly simplifies the procedure of property acquisition.

The most popular projects based on the amount of units sold were Palace Residences — North, Elitz by Danube, The Diplomat Residences, Elvira, Elora, Ibiza, Seascape and Bluewaters Bay. At the same time, the most in-demand neighbourhoods were Jumeirah Village Circle, Dubai Creek Harbour, Business Bay, Dubai Marina, Town Square Dubai, Jumeirah Lakes Towers and the Burj Khalifa.

The most appealing features of property acquisition for investors and end-users during Ramadan include:

1. Special promotions from developers. For example, last Ramadan, DAMAC Properties offered discounts of up to AED 500K (USD 136K) on ready villas and apartments in DAMAC Hills and DAMAC Hills 2. Townhouses in the sub-community of The Legends could be purchased without a registration fee at the DLD. Emaar Properties offered its customers a 25/75 payment plan for properties in Emaar South for three years after the project’s completion.
2. Reduced competition among potential buyers. Many people refrain from acquiring property during Ramadan and Eid, which makes the market less competitive for prospective buyers. As a result, you can negotiate better prices with homeowners when it comes to secondary real estate.
3. Thanks to the reduction of working hours, the Holy Month provides both buyers and sellers with more time to arrange viewings. Activity during the daylight hours is minimized, which leads to lowered traffic and congestion.

NBD! Ramadan is a perfect time to enjoy special sales in retail stores and signature menus in award-winning restaurants. In this article you will learn all about the activities in Dubai during Ramadan 2024.

Recently, many Dubai developers have launched an array of projects, including Rosemont Residences by Ellington, Wadi, Oria and more. Here are the key features of these projects:

1. Rosemont Residences by Ellington is a contemporary boutique complex by Ellington Properties in the family-oriented area of JVT District 2. The project offers a limited collection of 47 exquisite 1-2 bedroom apartments. The premium infrastructure includes a swimming pool, a cosy sitting area with sun loungers, a playground, a yoga area, a fitness studio and much more. The complex is pet-friendly. The developer provides buyers with an advantageous 70/30 payment plan.

2. Wadi is a premium complex by Arista Properties in District 11 Meydan. The project comprises just 30 properties — 4-5-bedroom villas and 6-bedroom mansions. Homeowners will be able to enjoy stunning views of the surroundings from the roof and relax at the lounge bar on the open terrace. The exclusive clubhouse features an 82-foot infinity pool with night lighting, as well as coworking space, a café and more. A 60/40 payment plan is available during the construction phase.

3. Oria is a premium residential complex located in Dubai Creek Harbour, offering 163 elegant 1-3-bedroom apartments. Emaar Properties put special emphasis on the principles of sustainability, incorporating innovative features for natural cooling, energy efficiency and automation into the project. A spacious communal podium covering 420 sq. ft will host yoga classes, a community garden, a barbecue and picnic zone, a swimming pool and much more. The developer offers interested buyers a 90/10 payment plan with a 10% deposit upon booking.

Metropolitan Premium Properties will gladly assist you with property acquisition by accompanying you at every stage of transaction. We will find you your perfect property in accordance with your budget and requirements, collect the necessary documents, and register the property ownership in the respective government agencies. If required, our specialists will help you to apply for a mortgage.

If you decide to lease your property after acquisition, our property management service will help you to enjoy passive income without having to worry about organisational issues. Our specialists will take on all the responsibilities of a landlord.