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New real estate in Al Wasl is becoming new favorites as wealthy investors continue to look for the most profitable and affordable options for investing in Dubai real estate. There are likely to be newer project launches in these specific locations soon, as developers are increasingly offering options outside of Palm Jumeirah Island and the Emirates Hills and Jumeirah Bay areas when it comes to residences with such price tags.
In general, the Dubai real estate market showed excellent results in the first three months of 2023: 88 transactions worth from $10 million were concluded. The total sales volume at the same time amounted to 6 billion AED.
At this rate, the chances that real estate sales in the price category of $10 million plus will exceed the figure for the whole of 2022 (when 219 such transactions were concluded).
Outside of Al Wasl-Water Canal, Tilal Al Ghaf is another location that is "quickly joining the growing list of ultra-luxury areas of Dubai". Last year, three properties here were sold for more than 90 million AED, and during the first quarter of this year, seven villas were sold for more than $10 million each, and this "strongly indicates that Tilal Al Ghaf will soon meet the definition of a premium area".
