Dubai’s real estate sector booms with AED 3 billion infusion – The Times of India

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Aqua Properties, real estate firm in the UAE, has announced its grand entry into the market with two transformative projects valued at an impressive AED 3 billion.
Founder Ali Tumbi, shared insights into the company’s current trajectory, and said, “There three projects underway and two more in the pipeline, featuring upscale apartments and strategically positioned mixed-use developments.”
The company aims to deliver over 500 residential and commercial units in the first quarter of 2024.
In analyzing the UAE realty market, Tumbi said, “Dubai‘s distinctive market dynamics, heavily influenced by cash transactions, continue to position it as a preferred destination for real estate investments.”

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According to recent data from the Dubai Land Department, Dubai witnessed a staggering 116,116 new property transactions, totaling approximately Dh430 billion (or $117 billion), in the first nine months of 2023. The real estate sector experienced remarkable growth, with transactions surging by 33.8% annually and values rising by over 36.7% during the same period.


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