Where will the new homes be handed over in 2018?

ESTIMATES VARY about the number of residential units that will be handed over next year. According to the Property Monitor Supply Tracker, over 40,000 units are expected to be completed in 2018. However, the actual realisation rate is likely to be much lesser.

According to Manika Dhama, senior consultant, Cavendish Maxwell, most supply in 2018 is expected to be completed in: “Mohammed Bin Rashid City with over 3,800 units; Jumeirah Village Circle and Al Furjan, each with over 3,700 units; Damac Hills with over 3,200 units; Town Square with over 2,500 units; Akoya Oxygen with over 2,900 units; Deira with over 2,100 units and Dubai Marina with over 2,400 units.”

“Much of the residential supply during 2018 is expected to come from the following projects: Living Legends — Dubailand, The Villages — Dubai South, Damac Hills — Dubailand, Hayat Townhouses — Town Square and Mudon Villas — Dubailand,” reckons Haider Tuaima from ValuStrat.

The Bluewaters Island project is going to be one of the major developments which will be handed over in 2018.

“If I was looking to buy right now, I would consider Volante in Business Bay and also Banyan Tree Residence,” suggests Myles Bush, CEO, PH Real Estate.

“The biggest residential handover next year will be of properties in Town Square. This is a welllocated community with affordable prices. There is also a lot of further development within Town Square, which when completed, will make it a community where everything you need is on your doorstep. This will be the highest transacting area next year in relation to the amount of units within a community,” says Lewis Allsopp, CEO of Allsopp & Allsopp.