Dubai’s real estate sector, including top real estate companies, brokers, and property management firms, continues to create an incredible success story through ultramodern skyscrapers and innovative growth. In just over 60 years, Dubai has evolved from vast deserts and sparse 10-storey buildings to a global icon of luxury, earning the title of the number one popular destination for the second consecutive year.
The city’s unforeseen growth, marked by law amendments, new residential permits, mega investment events, and post-COVID-19 financial stability, has unexpectedly swelled Dubai’s population and visitors for the past 2 years, driving the remarkable growth of the real estate sector.
Dubai’s Population Growth
Dubai’s population growth reached 3.65 million on December 17, 2023, according to Dubai Statistics Center. Foreign workers, investors, and most importantly millionaires and billionaires, have been the notable attributes of this 100,240 increase from last year. A lot of factors that built upon each other over the past 2 years have resulted in the influx.
Residential Permits
Dubai’s government has issued new residential permits such as the Golden Visa, the Retirement Visa, the Freelance Visa, the Green Visa, and so on. These new visas have allowed eligible tourists and residents to stay in the country for up to 10 years.
Change of Laws
The UAE has changed and continues to change multiple laws aiming “to strengthen economic, investment and commercial opportunities, in addition to maximizing social stability, security and ensuring the rights of both individuals and institutions.” Such laws have not only helped Dubai’s economic growth but have also brought in more people, especially those who do not follow the Sharia law.
Expo-2020 and COP28
Mega investment events such as Expo 2020 and COP28 have played pivotal roles in drawing global attention to the city, acting as the influence for increased international interest and investment. According to Ernst & Young LLP’s report, despite the global challenges Expo-2020 has met because of COVID-19, from the earliest stages of the preparations in 2013 up until the legacy phase of Expo City in 2042, the impact of the event will result in AED 154.9 billion of gross value added (GVA) to the economy of the UAE.
However, the sudden growth has brought it more investors and tenants than Dubai expected, resulting in an undersupply of properties ready to live in. Areas that have been affected the most are the villa market, waterfront locations, and mature communities due to them being fully developed. As tenants are turned into buyers because of the rising rent costs, they are turned to more affordable areas such as Discovery Gardens, Jumeirah Village, and Business Bay, which now face property shortages as well.
Emaar Properties
Emaar Properties, the leading real estate company in Dubai, founded in 1997 by Mohamed Alabbar, has etched its name in the city’s real estate history. Originally established to transform the city’s landscape, Emaar quickly rose to success by delivering innovative and groundbreaking developments. Fast forward to 2023, and Emaar has made unbelievable strides in the real estate landscape, achieving a net profit of AED8.2 billion in the first nine months of the year—a remarkable 42% from the same period last year. New off-plan projects expected in the UAE, Egypt, Saudi Arabia, and India (just to name a few) will contribute to the further development and growth of the company in the future.
Notable Projects by Emaar Properties:
- Dubai Marina: Dubai Marina offers an idyllic retreat for those seeking a combination of luxury and serenity, housing over 200 skyscrapers. It is the most sought-after waterfront location and includes residential buildings, offices, leisure facilities, retail stores, and hotels.
- EMAAR Beachfront: Nestled between the vibrant Dubai Marina and the azure waters of the Arabian Gulf, EMAAR Beachfront is a private island development featuring luxurious residences with breathtaking sea views. Emaar’s projects there include Adress the Bay (completion in 2026), Beach Mansions (completion in Q4 2025), and Palace Beach Residences (completion in Q4 2025).
- Dubai Creek Harbour: Positioned at a prime waterfront location, Dubai Creek Harbour combines modern urban living with natural surroundings, offering a harmonious blend of residential, commercial, and recreational spaces within the Dubai Square, Creek Beach, and The Island District subcommunities.
Nakheel
Nakheel, another prominent player among real estate companies, has left an undeniable mark on Dubai’s real estate landscape since its foundation in the 2000s. During Dubai’s debt crisis and real estate challenges in 2007-2010, the real estate company was facing a $3.65 billion loss. They were saved by Abu Dhabi’s investment of $10 billion into the company, which in turn saved Dubai’s now thriving economy. 13 years later, Nakheel is now developing ultra-luxury properties in Palm Jumeirah and Palm Jebel Ali. In 2023, Nakheel was awarded Gold for Best Induction Program and Best Employee Driven Business Change, and Silver for Best Leadership Succession Strategy in the Employee Happiness Summit & Awards (EHSA).
Notable Projects by Nakheel:
- Palm Jumeirah: Perhaps Nakheel’s most famous creation, the Palm Jumeirah is a man-made archipelago that stands as a testament to engineering prowess. Its iconic palm tree-shaped layout is home to luxurious residences, hotels, and entertainment options. Some of the remarkable developments include Shorelines Apartments, Palma Residences, Palm Views, and Azure Residences.
- The World Islands: A groundbreaking concept, The World Islands is an archipelago of artificial islands shaped to resemble a world map. Each island represents a different country, creating a unique and exclusive living experience.
- Dragon Mart: Dragon Mart is the largest trading hub for Chinese products outside of China, where you can find anything you can think of. It has become a thriving commercial center, contributing significantly to the city’s business landscape.
Dubai Holding Real Estate (Meraas/Dubai Properties)
Dubai Holding Real Estate, a visionary force among real estate companies shaping Dubai’s urban landscape, stands as a key player within the esteemed conglomerate founded by the government. Dubai Holding Real Estate, with a comprehensive portfolio, manages subsidiaries including Meraas and Dubai Properties. These entities play pivotal roles in shaping Dubai into a global hub for luxury living, as Meraas alone has built deluxe residences such as Bvlgari Residences, Bluewaters Residences, Nikki Beach Residences, Villa Amalfi, and many more. DHRE also owns other subsidiaries: Dubai Community Management, ensuring safety and aesthetics, and Ejadah, a property management, security management, and unit services company.
Notable Projects by Dubai Holding Real Estate:
- City Walk by Meraas: City Walk by Meraas elegantly blends Dubai’s old and new, showcasing innovative spaces with upscale community charm, relaxed suburban ambiance, and open-air mall features. This family-friendly urban lifestyle destination offers a unique mix of elegance and residential properties, providing a tranquil oasis close to essential amenities.
- Port de La Mer by Meraas: Inspired by the coastlines of the Mediterranean Sea, Port de La Mer offers incredible views, both of the Arabian Sea and the Dubai skyline in luxurious villas. It is a beachfront destination that harmoniously integrates entertainment, dining, and retail experiences, creating a vibrant coastal community.
- Jumeirah Beach Residence by Dubai Properties: Dubai Properties’ JBR is a waterfront community featuring a stunning array of residential towers, retail outlets, and a lively promenade, providing a dynamic and cosmopolitan living experience.
Sobha Group
Sobha Group, recognized as one of the top real estate companies, was first Established as an interior decoration firm in 1976 in Oman, later expanding its operations to the UAE, Sobha Group has built a stellar reputation for crafting exquisite residences and commercial spaces. Known for its emphasis on quality craftsmanship, attention to detail, and commitment to sustainable practices, Sobha Group has designed and developed palaces, royal facilities, and mosques for the royalties of Oman, Bahrain, Qatar, and the president of Tajikistan before even setting foot in Dubai. By 2017, Sobha was awarded the One Of The Top Unlisted Real Estate Companies In The Arab World award by Forbes Middle East, and in 2023 became partners with Arsenal.
Notable Projects by Sobha Group:
- Crest Grande: The neighborhood features a luxurious Caribbean-style lagoon and a comprehensive array of sports and wellness facilities, including a spin class studio, pilates, yoga, and health centers. With 2.4 million square feet of green space and interconnected parks, Sobha properties offer a serene living environment. Key facilities include prestigious schools and Hartland Mall with upscale brands and dining options.
- Sobha One Park Avenue: Located in Sobha Hartland, One Park Avenue harmoniously blends intelligent design with nature, emphasizing lush green spaces over urban elements. The development provides residents with safety and convenience through smart house technology, while also promoting sustainability with features like designated parking for electric vehicles and water-saving smart faucets.
- Waves Grande: Sobha Group’s new waterfront property, Waves Grande, in Sobha Hartland, Dubai, promises elevated luxury with contemporary architecture and cutting-edge design. The development offers breathtaking views of Downtown and the river, strategic proximity to landmarks, and lush green surroundings. Sobha ensures comfort and a remarkable quality of life through upscale amenities, making Waves Grande a transformative residential experience with unparalleled views and living comfort.
Nshama
Established in 2014, Nshama, a prominent real estate company in the UAE, specializes in creating sustainable world-class communities through smart and sophisticated designs. Led by CEO Fred Durie, the company has a track record in significant regional projects, including Downtown Dubai, Arabian Ranches, and most importantly Town Square which has stylish homes surrounded by vast green spaces.
Notable Projects by Nshama:
- Hayat Boulevard: This development combines contemporary design and functionality with features like glazed porcelain floors, built-in wardrobes, and en-suite bathrooms. Residents enjoy beautiful views, eco-friendly architecture, and plush interiors, making Hayat Boulevard an elite address.
- Zahra Apartments: These contemporary homes in Dubai provide a premium living experience with modern designs and breathtaking views. Offering superior comfort and convenience, Zahra Apartments represent the epitome of modern living in a dynamic city.
- Warda Apartments: Located in the central part of Town Square, Warda Apartments showcase Nshama’s emphasis on creating aesthetically pleasing and well-designed living spaces. The development incorporates green spaces and community amenities within a 5-minute walk.
DAMAC Properties
Damac Properties, operating since 2002, is a prominent residential, leisure, and commercial developer in the Middle East, with a significant presence in Dubai. The company has not only weathered economic cycles but has consistently thrived, contributing significantly to Dubai’s evolving skyline. DAMAC has undertaken real estate projects in various key locations, including Dubai Marina, JLT, Downtown Dubai, Jumeirah Village Circle, Business Bay, and DIFC. Notably, this real estate company has gained media acclaim for its mega-development projects in Dubai, such as Akoya.
Notable Projects by Damac Properties:
- Akoya Oxygen: An exclusive community known for its luxury, comfort, and security. Away from city noise, it provides tranquility amidst greenery. Residents enjoy sports facilities, including the renowned Trump World Golf Club. The architecture combines Islamic motifs with modern styles, featuring environmentally friendly materials.
- DAMAC Aurum Villas: Nestled in the heart of Dubailand, Damac Hills is a vibrant community featuring tastefully designed villas and apartments, complemented by world-class amenities like the Trump International Golf Club Dubai.
- Paramount Tower Hotel and Residences: In collaboration with Paramount Hotels & Resorts, Damac created this iconic luxury hotel and residential tower next to Sheikh Zayed Road. The tower features Hollywood-inspired rooms on floors 15 to 25, offering a lucrative investment in Dubai’s hospitality industry. Meanwhile, floors 26 to 63 offer spacious and fashionable luxury residences with Paramount-standard amenities and services including a rooftop infinity pool with panoramic views.
Al Futtaim Group Real Estate
Founded in the 1930s as a trading business, Al-Futtaim Group Real Estate, the real estate company of Al-Futtaim Group, is a substantial global developer with over 40 years of experience. Specializing in top-of-mind developments and lifestyle experiences, the company manages a multi-billion-dollar portfolio, including flagship urban communities like Dubai Festival City, Cairo Festival City, and Doha Festival City. It handles the origination, conception, development, and operation of mega projects, offering superior lifestyle destinations with residential and commercial spaces, educational institutions, hotels, and signature retail and entertainment offerings.
Notable Projects by Al-Futtaim Group Real Estate:
- Al Badia Terraces: A residential complex with mid-rise towers, Al Badia offers indoor amenities like a multipurpose room, kid’s play area, swimming pool, and fitness facility. Inspired by green landscapes, it features four public roof gardens and lounges, providing stunning views of the Dubai skyline. The project aims to meet the growing demand for well-designed homes for young families.
- Plagette32: Located at Tilal Al Ghaf, inspired by the French Riviera, Plagette32 offers luxurious living with 4 Water Bungalows and 28 Club Villas. This enclave blends seamlessly with the lagoon’s natural beauty, providing an elevated beachside experience with contemporary design and private gardens.
- Woroud and Zohour Apartments: Uptown consists of two residential clusters, Woroud and Zohour, offering sustainably designed homes from studios to 3-bedroom apartments. Woroud emphasizes contemporary and sustainable design, while Zohour comprises five residential buildings with state-of-the-art facilities, making it an ideal choice for families and investors.
Azizi Developments
Azizi Developments, a prominent Dubai-based developer, has delivered tens of thousands of homes to investors from over 100 nationalities since its establishment in 2007. Specializing in modern luxury developments across Dubai, the company emphasizes transparency, customer-centricity, and a construction-driven approach. With around 10,000 units under construction for delivery by 2025 and an additional 31,000+ units in the pipeline, Azizi is known for its investor-friendly properties and strategic partnerships with key master developers in Dubai. The company is expanding into the hospitality sector, planning to launch fifty 5-star hotels and one 7-star hotel in Dubai, while also eyeing global expansion in the UK, Europe, and beyond. Azizi Developments aligns with Dubai’s visionary goals, delivering exceptional homes and prioritizing customer satisfaction.
Notable Projects by Azizi Developments:
- Azizi Venice: A meticulously designed waterfront paradise with a gleaming Crystal Lagoon, pristine beachfront, vibrant boulevard, and world-class entertainment, Venice Residences offers a novel approach to apartment living. Whereas the Venice Villas provide a lavish experience with multiple world-class amenities under your roof.
- Riviera: Azizi’s flagship in Meydan, Dubai, is inspired by the French Riviera. The mid-rise residential complex includes a 2km crystal lagoon, diverse apartments, and amenities. Upon completion, it aims to accommodate over 20,000 residents.
- Mina Apartments: Azizi’s Mina waterfront development on Palm Jumeirah presents a varied collection of luxurious apartments with stunning views of the Arabian Gulf and Dubai skyline. Ideal for those seeking a lavish lifestyle in the city center, residents can indulge in amenities like swimming pools, gyms, and landscaped gardens.
Ellington Properties
Established in 2014, Ellington Properties is a leading design-focused real estate company in Dubai, creating beautiful and trend-transcending properties. With a customer-centric approach, the company offers bespoke residences, including villas, studios, and 1 & 2-bedroom apartments, built on pillars of changing mindsets, establishing credibility, evoking emotions, and differentiation. Located in prestigious areas such as Mohammed Bin Rashid City (MBR), Downtown Dubai, Palm Jumeirah, and Jumeirah Village Circle (JVC), Ellington Properties prioritizes quality lifestyles through personalized development processes.
Notable Projects by Ellington Properties:
- Palm Jumeirah Beachfront Villas: Located on Frond N, these beachfront residences offer seclusion and tranquility with five bedrooms, a private pool, and elegant interiors featuring a modern color scheme. Ellington’s commitment to exceptional design and quality is evident in this unique living experience on the prestigious Palm Jumeirah.
- Wilton Park Residences: Influenced by modern London architecture, Wilton Park Residences offers an urban oasis with studios, and 1 & 2 bedrooms. Meticulously designed for contemporary living, the development provides a harmonious blend of aesthetic design, privacy, and community living.
- Porto Playa: Ellington, in collaboration with Rak Properties, presents Porto Playa on Hayat Island, Ras Al-Khaimah. This design-focused property offers expansive sea views with a weightless, layered architecture, blending active and social spaces against the diverse landscape of Ras Al Khaimah for a sophisticated living experience.
Danube Properties
Established in 1993 by Rizwan Sajan, Danube Group was born from a single store in Deira, Dubai, and has grown into a trusted household brand in its 30-year journey. Operating in nine countries, the multi-million dollar Group, headquartered in Dubai, spans various business verticals, including award-winning entities like Danube Building Material, Danube Home, and Alucopanel. Danube Properties, the company’s real estate arm, stands among the top 5 developers in the UAE, emphasizing timely delivery and exceptional quality. With over 50 awards, Danube Group’s success is a testament to its commitment to quality and enduring consumer relationships.
Notable Projects by Danube Properties:
- Wavez by Danube: Wavez Residence in Dubai’s Liwan township offers 414 affordable apartments in two 10-storey buildings with unique amenities, including a pool, Jacuzzi, and a fully integrated retail space called Wavez Avenue, emphasizing open-space living near a public park.
- Miraclez by Danube: Miraclz is a unique residential concept that maximizes space, converting the living room into a bedroom with modular furniture and a convertible sofa. The development features 395 studios, 132 one-bedroom, and 64 two-bedroom apartments, along with 8 retail spaces for shopping and leisure experiences.
- ELZ by Danube: ELZ prioritizes green spaces and provides essential infrastructure and amenities. Strategically located with easy access to Sheikh Mohammed Bin Zayed Road, ELZ is a smart choice for modern living in Dubai.
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Written by: Anastasia Makarycheva