UAE Housing Market Surges; Developer Sales Hit Record Levels in First Half
Residential and commercial property sales reach unprecedented scale across emirates.
Modon Holding topped the UAE’s real estate rankings for the first half of this year, recording 23 billion dirhams (roughly 6.3 billion US dollars) in domestic property sales, according to data published by the semi-official Al Ittihad newspaper.
The figure placed Modon narrowly ahead of Emaar Properties, which posted 22.4 billion dirhams, or approximately 6.1 billion dollars. That slim gap between the two largest developers reflects how tightly contested the upper tier of the market has become. Damac Properties completed the top three with 16 billion dirhams, equivalent to about 4.4 billion dollars.
Together, the country’s ten largest developers moved more than 113.7 billion dirhams in property transactions during the first six months of the year, a combined figure that amounts to roughly 31 billion US dollars. For ordinary residents and prospective buyers, that volume signals a market still operating at considerable intensity, with new projects launching and existing inventory selling at pace across the emirates.
The ranking draws on company financial disclosures cross-referenced with data from the real estate analytics platform DXB Interact. Crucially, international sales for both Modon and Emaar were excluded from the comparison, keeping the focus on domestic activity and allowing a like-for-like read of how developers are performing within the UAE itself.
Aldar Properties held fourth place with 12.1 billion dirhams in sales. Binghatti followed in fifth at 7.6 billion dirhams, with Meraas just behind at 7.5 billion dirhams in sixth. These developers continue to capture meaningful market share despite competing against firms operating at significantly larger scale.
The second half of the top ten showed similarly solid numbers. H&H recorded 7.4 billion dirhams to claim seventh, Ellington posted 7 billion dirhams in eighth, Omniyat achieved 6.7 billion dirhams in ninth, and Beyond rounded out the list with 6.6 billion dirhams.
What the aggregate figure makes plain is the breadth of the sector. Ten companies, operating across residential and commercial segments, collectively transacted at a scale that few property markets globally can match in a single six-month window.
Whether that momentum carries into the second half of the year will depend on how developers manage their project pipelines and how sustained demand proves to be as the year closes out.
Q&A
What volume of property sales did the UAE's ten largest developers achieve in the first half of the year?
The country's ten largest developers moved more than 113.7 billion dirhams in property transactions during the first six months of the year, equivalent to roughly 31 billion US dollars.
Which developer topped the UAE's real estate rankings and by what margin?
Modon Holding topped the rankings with 23 billion dirhams in domestic property sales, narrowly ahead of Emaar Properties which posted 22.4 billion dirhams.
How does the market intensity affect ordinary residents and prospective buyers?
The sales volume signals a market still operating at considerable intensity, with new projects launching and existing inventory selling at pace across the emirates.
What factors will determine whether market momentum continues into the second half of the year?
Whether momentum carries into the second half will depend on how developers manage their project pipelines and how sustained demand proves to be as the year closes out.