Page 210 - SOBHA REALTY PR REPORT - NOVEMBER 2024

sales, highlighting continued investor confidence in the sector," said Zhann Jochinke, chief
operating officer, Property Monitor.

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He added, "With reduced interest rates, a surge in new projects, and more people choosing to buy
rather than rent, Dubai’s property market shows no sign of slowing down."

Zhann Jochinke

Much of this demand is fuelled by Dubai's rapid population growth, which has surged in the post-
pandemic period. With over 100,000 new residents joining the city each year, demand has
consistently outpaced supply for the past few years.

Property Monitor’s October report also revealed that nearly three quarters – 73 per cent – of
transactions were for off-plan or under-construction properties, with residential transactions
making up nearly 95 per cent of sales, totalling over 19,400 deals.

The highest-priced transaction for October was a villa at Jumeirah Bay sold for Dh175 million.
Meanwhile, a villa at Eome in Palm Jumeirah’s western crescent topped the off-plan sales price, at
Dh170.5 million.
Emaar Properties continued to maintain the lead followed by Damac Properties and Sobha in terms
of the highest number of off-plan sales in October.

https://www.khaleejtimes.com/business/realty/dubai-sells-over-20000-property-units-in-october-
records-new-all-time-monthly-high-in-2024