In the midst of the whirlwind of positive news coming out from Dubai’s property area, Nakheel added some more — in record time.
The Dubai-based real estate on Friday reported that it sold out 217 villas worth Dh800 million in only four hours, as investors were “clamoring” to procure homes at its new Murooj Al Furjan community.
The 217 villas were essential for the first phase of Murooj Al Furjan. A sum of 418 villas is available to anyone in the mixed-use gated community, which is set to be finished in 2024. Costs start at Dh2.9 million.
Dubai’s property area has been on a tear, bucking even international patterns that have seen negative, uneven, or tepid growth. Investors have been rushing to the market to eat up a piece of land, exploiting lower costs over the previous year, mostly because of the impact of the Covid-19 pandemic.
Villas and, as a rule, properties with spacious areas, arose to turn into an extremely popular draw as occupants look for more accommodation in the wake of the disturbance achieved by the circumstance, which saw a phenomenal spike in remote working and studying, among other activities.