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DUBAI:  Emaar Properties reported a 250 percent leap in property sales in Dubai in the first five months of the year.
Sales reached 10.5 billion dirhams ($408.4 million), the company said in a statement, adding it expects even higher growth for H1 2021.
“I am confident that the Dubai property market is once again a growth story for developers, in light of the UAE's wise policies, with Emaar perfectly positioned to capitalize on this,” its founder Mohamed Alabbar said.
Wealthy international investors have helped drive demand in Dubai's luxury segment despite a huge pipeline of upcoming supply in the wider property market.
Emaar has revealed plans for new residential projects this year, including Golf Place Terraces in Dubai Hills Estate, Caya and Bliss in Arabian Ranches 3, and  Palace Beach Residence in Emaar Beachfront.