Doha, Qatar: Three plots of land in Downtown Dubai have been sold for a combined profit of AED715m, highlighting the incredible growth and investment potential of the city’s real estate market.
The three transactions, all completed within the space of five days last month, brought individual returns of AED225m, AED290m and AED200m for the three sellers.
Data from DXB interact revealed that an investor sold one of the plots, a prime 51,439 sqft parcel of land, for AED400 million, just 18 months after buying it for AED175m. The two other plots were bought in April 2017 and May 2021 respectively. “These transactions highlight rising land values in prime areas of the city, and underline how Downtown Dubai’s unique blend of luxury residential, commercial, and leisure offerings has made it a top global destination for investors,” said Firas Al Msaddi, CEO of fäm Properties. “In addition to its commercial appeal, Downtown Dubai is a major tourist destination, attracting millions of visitors annually to its world-class attractions, luxury hotels, and fine dining establishments. This dual appeal makes it a unique investment opportunity.”
Home to world-famous landmarks such as the Burj Khalifa, The Dubai Mall, and the Dubai Fountain, Downtown Dubai has seenland values appreciate significantly over recent years, driven by strong demand and limited supply.
The three major plot sales in quick succession last month spotlight the increasingly buoyant nature of the Dubai real estate market following last year’s all-time peak of 180,900 property transactions worth AED522.1bn.
