Page 273 - SOBHA REALTY PR REPORT - SEPTEMBER 2024

He further noted, "We sold 80 per cent of our stock in 72 hours. When the top developer sells out in
just 4 hours and the seventh largest does so in 3 days, it shows the demand is significantly
outpacing supply. This trend will persist because Dubai continues to perform exceptionally well."
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Rents have been steadily increasing over the past few years, driven by strong demand from property
buyers and tenants.

As reported by Khaleej Times, big developers have been selling out their inventories in hours while
new and smaller developers are managing to sell their units in days, underscoring the supply-
demand imbalance.

Imran Farooq

Major local developers such as Emaar Properties, Nakheel, Damac Properties, Danube Properties,
Samana Developers Binghatti and Sobha Group have been the leading contributors to Dubai's
property market, collectively accounting for around 90 per cent of new launches.

https://www.khaleejtimes.com/business/realty/dubai-property-market-needs-up-to-20-extra-
supply-to-control-rising-rents