Highlights of 2021 for the leading real estate company Metropolitan Premium Properties

The year 2021 has been highly successful for the Metropolitan Premium Properties since the group sold the second most expensive property in Atlantis The Resort & Residences. To boost its position on the real estate market, it also held road shows in 3 cities.

Metropolitan Premium Properties has witnessed an exciting year in terms of demand, sales transactions and events. In fact, it has recorded a total number of transactions worth AED 3.5B (USD 957M) in the first 9 months of 2021, which confirms the buyers confidence in the company. In fact, according to Nikita Kuznetsov, CEO of Metropolitan Premium Properties, the agency registered over 1,000 property deals in the first half of the current year with off-plan sales rising by 200%. Meanwhile, secondary sales also have been astonishing with a 300% increase compared to H1 2020.  Even amidst the pandemic, there were no redundancies in the full-service real estate agency, which is headquartered in Office 1913, Al Manara Tower, Business Bay, Dubai, United Arab Emirates.

The company is well-known on the Dubai real estate market for its extensive portfolio of ultra-luxury offerings worth AED 10M (USD 2.7M) and above. In November 2021, the company concluded a deal on the second most expensive property in the iconic development on Palm Jumeirah; Atlantis The Resort & Residences. The AED 64M (USD 17.4M) penthouse was purchased by a buyer from Europe and the entire transaction took only 4 days to finalize. This sale was one of the largest in 2021 for MPP and demonstrates the ongoing appeal of Dubai for HNWIs. In total, the company sealed deals worth approximately AED 3.5B during the first 9 months of 2021, showcasing its stable position and successful business strategy.

As stated by Kuznetsov, the company has witnessed an increased demand among wealthy buyers from France, Germany, Austria and the UK. It is worth mentioning that sales of real estate worth over AED 5M (USD 1.36M) accounted for 15% of a total number of transactions in the first half of 2021. These include 2 penthouses in the gorgeous W Residences by Al Mana Global, which were acquired by the same purchaser for a total cost of AED 102M (USD 27.8M). The Garden Villa in the above-mentioned Atlantis The Resort & Residences and a residence in Il Primo by Emaar were also sold for AED 44M (USD 12M) and AED 42M (USD 11.4M) respectively.

The CEO of MPP also noted that beachfront villas and townhouses have been especially popular among overseas buyers. And of course, areas such as Downtown Dubai, Palm Jumeirah and Emaar Beachfront remain consistent in terms of popularity.

Metropolitan Premium Properties is a certified broker of the award-winning DAMAC Properties, among other real estate giants, which is famed for its projects in Qatar, the UK and Lebanon, as well as the UAE. In order to attract more investors, MPP held the Dubai Property Investment Show in 3 cities simultaneously: Moscow, Saint Petersburg and Kiev on 23-24 October 2021. This event has proven to be of tremendous success, as the agents of the company not only provided detailed information on all aspects of property investments in the UAE, but also presented a range of iconic projects by DAMAC. Undoubtedly, DAMAC Cavalli Casa was the highlight of the Dubai Property Investment Show, since this is the first Cavalli-branded residential tower in the world. This development offers a range of 2-5 bedroom apartments and penthouses, as well as exclusive Flying Villas. Not forgetting DAMAC Lagoons, which is set to become an exciting mega-development built around a huge D-shaped lazy river right next to DAMAC Hills.

As stated by Kuznetsov in a recent interview with Arabian Business, MPP is the only UAE real estate agency that has hosted more than 20 similar roadshows across Europe and the CIS to drum up interest regarding UAE developers. For targeted marketing, the company runs about 800 campaigns at the same time in 7 different languages. MPP has big plans for the future, as it is set to expand into the Northern Emirates as well. Thus, it will become the only real estate company which will operate within the entire UAE.