Despite the virus-induced slowdown, the project completion rate in Dubai for 2020 was higher. The 2019 spillover impact resulted in a higher completion rate of property projects in Dubai this year, with more than 20,000 units completed amid a decline in new project launches in the first four months of 2020.
In addition, work on construction projects is also progressing at a steady pace as the sector has been exempted from the corona virus ban, resulting in deliveries of most of the projects going forward.
Over 15,000 apartments have been built and Company Bay, Town Square, Downtown Dubai, Dubai Sports City and Dubai Development City are the top regions. Over 3,800 villas/townhouses were completed and Akoya, Dubai South, Damac Properties, Akoya Oxygen and Hatta were the top five communities. According to Property Finder's latest data released on Wednesday, over 1,000 serviced apartments were also completed during the January-April period.