The Dubai property market reportedly grew by more than 130 percent in the first half of 2022, with nearly 85 projects of more than 130,000 apartments starting construction. With the 2022 FIFA World Cup in Qatar approaching and the city's continued prosperity, demand is unlikely to fall.

Term housing is a smart and efficient investment. The deal is mutually beneficial as the developer is getting the money for the construction project and the buyer is realizing the value added during the handover phase.

Arash Jalili, founder and CEO of UAE-headquartered Unique Properties, says that while the market in Dubai is hot at the moment, the potential for long-term investment returns should remain, both in terms of new projects and costs.

Downtown Dubai, Business Bay and Dubai Canal remain popular locations based on unique properties, with unplanned developments emerging recently.

In addition, other new off-plan projects have been announced outside the city center, which are also in desirable locations such as Dubai Hills, Nad Sheba, Meydan and Dubai Creek Harbour.

Dubai's real estate market hit a new high on Tuesday, with real estate transactions exceeding Dh1.7 billion.

According to the Dubai Land Department (DLD), real estate transactions included 425 sales transactions worth Dh1.32 billion, 71 mortgage transactions worth Dh386.7 million and 12 gifting transactions worth Dh56.77 million.

This includes the sale of 403 villas and apartments worth Dh1.17 billion and 22 plots of land worth Dh149.92 million.