During the month, unplanned real estate worth 28 billion dirhams was commissioned in Dubai

The number of off-plan new property launches and sales is growing and reached a record high in November as Dubai's real estate market expands due to the epidemic.

According to the latest November Property Monitor report, in November the number of launches of new unplanned development projects reached a record monthly high, adding an additional 7,161 units to the market for sale with a projected total gross sales value of 28.2 billion dirhams.

According to the report, apartments account for 63.7% of the volume of new stocks, while villas and townhouses account for 22.8% and 13.5%, respectively.

But at the moment, the number of launches of new projects has exceeded a little more than 44,000 units, and the total sales value was 132.5 billion dirhams.

Since the establishment of the Real Estate Committee in September 2019 to ensure a balance between supply and demand in the real estate market, real estate sales in Dubai have declined.

Recently, the number of unscheduled launches has increased as the market has begun to digest excess stocks left over from the epidemic. Effective management of the epidemic has led to a significant increase in demand for real estate in Dubai.