Dubai Expected Residential Apartments Supply — Q1 2016
Many developers have postponed the expected completion date of their projects due to different reasons that affected the market and therefore delaying the deadline for handover. Even so, it seems that the majority of the developments expected in 2015 have been handed over during the last two quarters and more than 1000 units have been handed over in Dubai Marina & JBR, Business Bay and on the Palm in the last quarter of the year.
The market is expected to receive the highest residential apartments supply in 2017 as projects are already under construction. During 2016 we expect new supplies from projects such as ‘Meydan Heights South’ and ‘Millennium Estates’. JLT ‘Dubai Star’, Business Bay ‘Volante’ and Dubai Marina ‘Escan Marina’ Tower, these are some of the forthcoming residential apartments supplies.
More than 15,000 units were schedule for delivery in 2015, however we witnessed a delay and reschedule for those units to be handed over during 2016, 2017.