Small real estate developers have proliferated in Dubai, and some may not withstand the competition, according to business professionals.
“The mainstream developers are busy because they can sell whatever they can produce. So I don’t see the trouble there (in terms of oversupply). The issue is that there is a mushrooming of small developers, and everybody thinks they are a developer who requires an army of resources, and the product needs to be promoted across various continents, and that’s where the (successful) business model is. I’m not sure if they have got their business model right,” said Imran Farooq, CEO of Samana Developers.
Wissam Breidy, CEO of HRE Development, said it’s a free market; therefore, developing a reputation the appropriate manner is vital.
Already surpassing last year’s figures
By the end of October 2025, the number of flats sold in Dubai had surpassed last year’s records. Around 99,758 units were sold in the first 10 months of this year, compared with 94,459 in the same period last year.
“Dubai is the most wanted brand in the world, so everybody from any part of the world wants to buy a piece of real estate here. Hence, it’s doing extremely well. When we look at the traffic on the road, that tells you a completely different story,” said Farooq.
“So, if you take forecasted numbers based on the same trend, 2025 is projected to see 120,000 apartments, representing a 27 per cent growth in the off-plan apartment sale. That’s a huge jump. If you look at all kinds of property, this year will be 20 per cent better than 2024. That means the trend is extremely strong,” he said.
Wissam Breidy of HRE Development said the real estate market in Dubai and the UAE is “entering an era of strategic growth”.
“When you are investing in a country, you look into the track record. I trust this country’s track record. Covid-19 was a turning point for the UAE because the government managed it effectively. None of the investors had any challenges that others faced in other countries. I trust the UAE because its leadership always has a plan beyond what we expect.
“When the world was facing the challenges of Covid-19, the UAE introduced the Golden Visa. So, now we see different people coming to live in the UAE. Earlier, we had individuals coming to work and leaving. Now, you see people bringing their family as they have a 10-year residency. They are searching to buy homes here, not just apartments,” he said.