Metropolitan Group witnessed a record-breaking year with a 130% increase in sales

Metropolitan Group, which is the father company of Metropolitan Premium Properties and Metropolitan Capital Real Estate, gained an astonishing AED 11B (USD 3B) in sales in 2022. This is a 130% increase compared to last year (2021), which signifies the strong position of the award-winning company within the UAE local real estate market. On top of that, the average transaction in Metropolitan Group is now valued at more than AED 4M (USD 1.2M), whilst secondary and off-plan property sales more than doubled in contrast with the same period last year.

According to Nikita Kuznetsov, Partner of Metropolitan Group and CEO of Metropolitan Premium Properties, 2022 was a significant milestone for the company, with its highest sales ever for uber-elite real estate. He also said that Metropolitan Group recorded the best sales and revenue growth since the establishment of the company back in 2008.

Sales of super-luxury real estate (worth AED 10M (USD 2.7M) and above) quadrupled, with leads having tripled compared to 2021. End-users and investors from Europe and the CIS continued to choose Dubai as their primary home, accounting for 80% of the Metropolitan Group client base. Our real estate agents witnessed a strong demand for penthouses, ready properties and waterfront units. At the same time, the top areas for sales transactions included Palm Jumeirah, Dubai Water Canal, Emirates Hills and District One.

As stated by Nikita Kuznetsov, this year, major developers in Dubai are set to launch a range of projects valued at AED 100B+ (USD 27B+). Currently, the local market is highly beneficial for property owners, particularly in coastal neighbourhoods, such as Bluewaters Island, Palm Jumeirah, Port De La Mer, Dubai Marina and Emaar Beachfront. The top-performing areas also include Business Bay, Downtown Dubai, Dubai Creek Harbour and Jumeirah Village Circle. Those seeking for villas opted for DAMAC Hills, Emirates Living, Dubai Hills Estate, Arabian Ranches I, II and III, as well as Villanova.

One of the most outstanding achievements of the group is Dubai’s single largest residential land deal to date, which amounted to AED 690M (USD 187.6M) in Dubai Marina. Additionally, our real estate agents landed a rental deal worth AED 1.8M (USD 490K) for an upscale 15,500 sq. ft 6-bedroom villa in District One. In addition, the company sold 2 villas priced at AED 156M (USD 42.5M) on Jumeirah Bay and a plot worth more than AED 126M (USD 34M) on Dubai Islands.

In order to keep up with such tremendous growth, Metropolitan Group doubled its staff to 500, which includes 11 new Heads of Department. The group also established new divisions, such as Metropolitan Homes focused on Dubai’s secondary real estate market and Penthouse.ae, with properties worth AED 15M (USD 4M) and above for wealthy investors. Other new departments are Institutional Sales, Northern Emirates, Commercial Properties, Rentals Department and a UK Property Division. Not forgetting a Metropolitan Partnership/Referral Programme, which enables non-brokers to refer buyers/sellers and get rewarded financially for all closed deals.

Metropolitan Premium Properties and Metropolitan Capital Real Estate ranked first amongst an array of large developers, such as Majid Al Futtaim, FIVE Holdings, Select Group, Aldar Properties, IMKAN Properties and National Investment Corporation. The Dubai-based entity is also in the top-4 with DAMAC Properties and one of the leaders in sales for Emaar Properties, Nakheel Properties and Sobha Realty.

As well as all that, Metropolitan Group won multiple awards last year, including Best Real Estate Agency, Best Real Estate Marketing and Best Agency GCC at the International Property Awards, as well as the FEEFO Gold Trusted Service Award. Metropolitan Capital Real Estate was announced the House of Super Agents and a runner-up in Best Quality Broker by Property Finder, as well as Agency of the Month by Bayut twice.

Not forgetting that Metropolitan Group ranked 10th in the Top 50 Best Workplaces™ in 2022, becoming the first real estate agency ever to enter this list in the UAE, and was in the top 5 of the Best Workplaces™ in the GCC. It was also the top place to work for females in the GCC, according to the Best Workplaces for Women™ and the best workplace for millennials in the GCC, as reported by LinkedIn. Famed for its employee-centric approach, Metropolitan Group rewarded its staff with bonuses from developers worth more than USD 2M in 2022.