High demand for off-plan properties in Dubai continues as COP28 summit approaches

Dubai’s real estate market is only gaining momentum as 2023 continues. The off-plan market, specifically, has made up more than half of all sales transactions in the first half of 2023, with a more than 200 percent increase in comparison to the 5-year average for the same time period.

Along with the UAE government’s initiatives and benefits to real estate investors in the emirate, hosting various events, exhibitions and summits such as COP28, is only increasing non-residents’ interest in potential future investments. COP28, an international climate summit that aims to decrease the global temperature by 2030, is expected to bring in over 70,000 people to the event in early December. This type of publicity only fuels the UAE’s ongoing reputation as a technologically advanced and ecologically friendly country with sustainable practices.

This year is predicted to be the busiest for Dubai in terms of residential market transactions, with neighbourhoods such as Sports City, Town Square, Jumeirah Village Circle and Al Furjan witnessing the greatest increase in demand and off-plan property purchases.

Off-plan real estate offers premium yet affordable investment opportunities, lower prices, greater financial flexibility and favourable payment plans directly from the developer.