A Villa in Dubai Zaya Nurai Island was sold for AED 78.7 million in United Arab Emirates Real Estate Market.
Mentioning that the Villa is located in The World Islands area – Dubai.
According to the Land Department data, the total area of the property is 36,993 square feet.
While the value per square foot is AED 2,129.
The real estate sales in Dubai touched the barrier of one billion dirhams since the early hours of the morning.
Furthermore, it has reached AED 912 million through 292 transactions.
Furthermore, it has reached AED 912 million through 292 transactions.
Airport City area took the first position in the value of sales through 37 transactions worth AED 115.1 million.
While Dubai Harbor came in the second position with 16 transactions worth AED 96.6 million.
Third position was for World Islands area.
Fourth position taken by the Business Bay area with 24 transactions worth AED 57.3 million.
In fact the strong demand for real estate in Dubai is driven by a number of factors.
- Dubai strong economy.
- Strategic location of Dubai.
- High quality of Dubai life.
- Strong Infrastructure and Transportation.
Dubai real estate market is expected to continue to grow in the coming years.
Driven by Dubai city continued economic growth and its attractiveness to foreign investors.
During the first half of 2023, the average selling price of expensive villa in Dubai continued to rise in the most prominent neighborhoods.
The best option for buyers looking for luxury villas is Arabian Ranches.
Also, the average price per square foot for villas in Arabian Ranches was 1,316 dirhams, after a slight increase of 2.81%.
Homes in Dubai Hills Estate also attracted high-net-worth buyers.
The average price per square foot for villas in Dubai Hills Estate increased slightly by 11.9% to reach 1,833 dirhams.
Buyers and investors also showed interest in the luxury villas available in Damac Hills, Palm Jumeirah, and Jumeirah Park.
Since prices in these areas have increased by up to 17%.
The most notable sales activity seen in Palm Jumeirah, which could be due to the increase in demand in the area.
Investors and buyers interested in affordable villas in Dubai preferred Damac Hills 2.
The average price per square foot for villas in Damac Hills 2 increased by 6.25% to reach 684 dirhams on average.
Read more about Dubai Real Estate: Dubai Marina: The Preferable for investors
We cannot deny the role of AI in Real estate market as it has become a new competitive sector for many companies operating in real estate.
Real estate experts have confirmed that the local market is currently witnessing an expansion in the use of Artificial Intelligence.
The Chairman of the Board of Directors of “W Capital Real Estate Brokerage”, Walid Al Zaraouni, stated the following:
“Dubai was a leader in developing a unique model based on modern technologies, including artificial intelligence and Blockchain, which contribute to shaping the future of the real estate industry.”
He added that “these technologies help in integrating digital solutions into construction projects to achieve more environmentally friendly real estate projects.
As well as improving operational efficiency and enhancing productivity throughout the real estate life cycle, which enhances competitiveness in the real estate sector.”
Read the full article here: AI is a new competitive sector in real estate markets
