Over 3,400 new units slated for completion in Dubai’s Jumeirah Village Circle in 2019
Thousands of new residential property units are expected to be completed in Dubai’s upcoming communities this year, research from real estate portal Property Finder has found.
Over 41,000 homes are scheduled for completion in Dubai in 2019, although there is usually a “considerable gap” in what is announced and what enters the market, the report said.
Actual deliveries have been 30 to 50 per cent lower than projections since developers usually adjust supply to match actual demand.
But the report found that – until the end of February 2019 – 30 per cent of the 41,000 units slated for completion in Dubai are 96 to 99 per cent ready.
A further 32 per cent of under-construction projects are 91 to 95 per cent complete while 29 per cent of projects being built are 85 to 90 per cent complete.
“This may result in a higher materialisation rate of projects this year,” Property Finder stated.
A total of 4,441 residential units have already been completed in Dubai in the first two months of 2019, of which 4,184 were apartments and 257 were villas/townhouses.