The real estate momentum in the Burj Khalifa area in the heart of Dubai continues to attract investment and attention from all over the world, with the demand for high-quality luxury properties continuing to grow. Sales have recorded more than AED 11.2 billion since the beginning of this year, while the average price per square foot for residential apartments in the area has reached an all-time high of AED 3,302, which is currently the highest in the Emirate of Dubai. The area, which includes the Burj Khalifa, the tallest tower in the world, continues to maintain its upward investment momentum, making it a golden destination for investors looking to benefit from the strategic location and promising future, thanks to a unique blend of luxury, elegance and urban development. It is clear that real estate sales in the Burj Khalifa area are heading towards a new record that surpasses last year’s figures, in which sales reached about AED 19 billion, while sales in the area since the beginning of this year constitute about 72% of the total sales last year.
Since the beginning of this year, investors in the Burj Khalifa area have concluded 2,612 deals worth AED 11.2 billion, with ready sales accounting for 65.3% of total sales at AED 7.19 billion, distributed over 1,836 residential unit deals and two land deals worth AED 220 million. Off-plan sales accounted for 34.7% of total sales at AED 3.82 billion, and were completed through 775 residential unit deals.
The average price per square foot for residential apartments in the Burj Khalifa area has continued to rise since the beginning of this year, recording AED 3,302 per square foot in July, up 1.6% month-on-month, and 17.9% year-on-year, while the price of a standard apartment in the area reached AED 3.09 million.
Burj Khalifa area today leads with the most expensive average selling price per square foot for apartments in Dubai at AED 3,302 per square foot, far ahead of its closest competitors, while the area has achieved capital gains of 53.7% since the start of the Corona pandemic in March 2020.