The emergence of new companies in the real estate sector has been transforming the market and projecting growth and innovation. With the existing contribution of top real estate companies in Dubai, new companies are emerging into the market and opportunities and contributions have grown significantly.
These enterprises have collectively launched projects valued at AED 150 billion providing for Dubai’s evolving architecture. With impressive performance especially in the luxury and ultra luxury segments, the new real estate firms have captured 35% of the total shares of the real estate market.
Leading these transformations are the Binghatti Developers, which has produced 5,000 residential units since its inception and Azizi Developments managing a portfolio that exceeds AED 45 billion in project value.
The innovative approach of these new players has accounted for their success and gaining a position for them in the market. Danube Properties began with the 1% monthly payment plan model which has helped them attract a wide range of investors, using this strategy they have gained 92% as an average occupancy rate in their completed projects.
We’ll look at the top 10 new real estate companies in Dubai and their contributions that improvised the infrastructure of the Emirates.
List of top new real estate companies in Dubai
Given below are the emerging firms in Dubai’s real estate market. These companies are progressive and making their way up in the market.
| # | Company Name | Website | Established Year | Full Address | Key Projects |
|---|---|---|---|---|---|
| 1 | Al Mira Real Estate | almiraxproperties.com | 2023 | Fifty One Tower, Marasi Drive, Business Bay, Dubai | Luxury property brokerage |
| 2 | Al Arfeen Real Estate | alarfeenrealestate.ae | 2022 | Deira, Dubai | Various residential and commercial properties |
| 3 | Gaia Living Real Estate | gaiarealty.ae | 2022 | 48 Burj Gate, 1101B, Downtown Dubai | Residential properties in Downtown |
| 4 | Estate500 | estate500.com | 2022 | Al Saqr Business Tower, Sheikh Zayed Rd, Trade Centre, DIFC, Dubai | Luxury property brokerage |
| 5 | Meteora Developers | meteoradevelopers.com | 2022 | Sheikh Zayed Road, Dubai | Alta, The East Crest |
| 6 | BANIAN | banian.com | 2022 | Marina Plaza, Dubai Marina | Serenia Living, Serenia Residences |
| 7 | Xsite Real Estate Brokers | xsite.ae | 2022 | Xsite Real Estate Brokers Office, Jumeirah Village Circle, Dubai | Various residential projects |
| 8 | BNW Developments | bnw.ae | 2021 | 24th & 33rd Floor, Ubora Tower, Business Bay, Dubai | Aqua Arc |
| 9 | White & Co | whiteandcogroup.com | 2021 | Control Tower, Dubai | Residential and commercial properties |
| 10 | Pure Gold Living | puregoldliving.com | 2020 | 39th Floor, HDS Business Centre, Cluster M, Jumeirah Lake Towers, Dubai | PG ONE |
An overview of the top 5 new real estate companies in Dubai
Al Mira Real Estate
Website: almiraxproperties.com
Headquarters: Business Bay, Dubai
Established Year: 2023
Key Person: Ahmad Abuisnaineh, CEO
Core Services: Real estate brokerage
Awards: Won Property Finder ‘Super Agent Awards’ 2023
Al Arfeen Real Estate
Website: alarfeenrealestate.ae
Headquarters: Jumeirah Village Circle, Dubai
Established Year: 2022
Key Person: Karam Din, Chairman
Core Services: Real estate brokerage, off-plan properties
Awards: Received Star Performers of Bayut & Dubizzle
Gaia Living Real Estate
Website: gaiarealty.ae
Headquarters: Downtown, Dubai
Established Year: 2022
Key Person: Aslan Patov, CEO & Owner
Core Services: Real estate brokerage, property management
Awards: N/A
Estate500
Website: estate500.com
Headquarters: Sheikh Zayed Road, Dubai
Established Year: 2022
Key Person: Mohammed Abu Mosameh, Founder
Core Services: Investment, legal & mortgage services
Awards: N/A
Meteora Developers
Website: meteoradevelopers.com
Headquarters: Sheikh Zayed Road, Dubai
Established Year: 2022
Key Person: Praveen Sharma, Founder & CEO
Core Services: Residential projects development
Awards: Received award for ‘Best Customer Service in Real Estate’ by Ultimate Realty Awards 2024
Key factors for compatible performance of the new real estate companies in Dubai
These aspects make new companies gain ground in the real estate market despite the existing big players in this sector.
Market dynamics
One of the main reasons that the real estate market attracts new investors and companies is because of its dynamic characteristics. When compared globally, Dubai has the highest rental yields, averaging at a rate of 6-8%. The property appreciation price is relatively high, yielding 15-20% annually in prime areas.
With an increase in FDI (Foreign Direct Investment) resulting in AED 20.7 billion as of 2023, and the growing population estimated to see a 3.5% increase annually, these factors attract investors specifically from Asia and Europe.
Economic and policy drivers
Strategic government initiatives like the Dubai 2040 Urban Master Plan and golden visas have attracted foreign investors, specifically high-profile individuals and investors. With a GDP growth of 3.5% in 2023, Dubai’s market conditions have been progressing since then, leaving growth opportunities for investors.
Innovation and technologies
Many new technologies and innovative methods have emerged in the real estate market for overall improvement and sustainability. These measures projected success and expected results. Real estate transactions have been made effective by implementing blockchain, and property management along with other related processes have been transformed digitally, ensuring the effective functioning of the real estate market.
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Customer centric approaches
Many features favor the customers in the real estate market. Measures like flexible payment plans (e.g., 1% monthly payments), post-handover payment options, and rent-to-own schemes have been easy attractions for most parties in the real estate sector like buyers, investors, builders, and even new real estate companies. Provide effective support and guide clients with our real estate growth platform and its advanced collaboration tools. Improve overall satisfaction and retain your clients.
Market maturity
The real estate market of Dubai shows strong regulatory oversight and improved market transparency. With factors like professional property management and established property valuation standards, not only do existing companies benefit, but new companies easily adapt to these factors and use them effectively to improve their businesses.
Conclusion
The statistical report by Dubai Land Department shows the contribution to sales by the new real estate companies as a satisfying rate of 28% which is from 2022 to early 2024. This clearly shows that they are using the resources and policies in the right way and making this market advantageous to them.
The average price per square foot in projects by new developers gave them 15-20% annually which is more than the market average (12%). These new companies have marked their significance in the market by securing 80% of the projects under green building standards. For instance, Omniyat's developments feature energy-efficient systems that reduce power consumption by up to 30% compared to conventional buildings.
These new firms have been predicted to produce 40,000 new units by the end of 2027 contributing for the market growth and providing creativity and innovations into the sector.
Disclaimer: Retyn does not promote or support any of the companies or services mentioned in the list. The data presented is compiled through online and market research and does not reflect our priorities in any manner.