It was announced that three plots of land in the center of Dubai were sold with a total profit of 715 million dirhams. According to data from the site "DXBinteract", deals with the three plots were completed within five days last month with an individual profit for three sellers of 225 million, 290 million, and 200 million dirhams respectively.
One of the investors sold a plot measuring 51,439 square feet for 400 million dirhams just 18 months after purchase for 175 million dirhams, making a profit of 225 million and a income percentage of 129%. The second plot, measuring 36,345 square feet, was acquired in April 2017 for 95 million dirhams and sold for 385 million, bringing a profit of 290 million and an income percentage of 305%.
The third plot, measuring 71,169 square feet, was acquired in May 2021 for 200 million dirhams and sold for 400 million, yielding a profit of 200 million and an income percentage of 100%. The general director of the company for real estate "FÄM", Faras al-Masdi, stated: "These deals again underscore the growth in land prices in key areas of the city, confirming that the unique combination of luxury living, commercial and entertainment offerings in the center of Dubai has made it a leading global destination for investors."
He added: "Rapid growth in land prices will bolster investors' confidence in the future of Dubai, which is a result of stringent regulations, digital transparency, and long-term development strategies initiated by the Dubai government and the Department of Land and Real Estate of Dubai."
These real estate deals attract attention to the rapidly developing real estate market in Dubai following a peak last year, when 180,900 deals were conducted for a total of 522.1 billion dirhams. Investors reported record profits of nearly 60 billion dirhams from the secondary real estate market of Dubai in 2024, while the secondary market reached a capital of 59.7 billion dirhams, increasing by 34% compared to 2023 and by 1300% over the past five years.
