Dubai's property market is seeing increased competition as dozens of new developers including Amaal, Kasco Developments, Acube Developments and PO B1 Properties enter the scene amidst rising demand. So far in 2024, 40 new developers have launched projects, half of them from foreign companies. Among the standout projects is Amaal’s Dh1.5 billion Amaal 8 development which has already sold out its first phase.

Despite the growing competition, there’s still room for new players especially those offering unique and innovative products that meet consumer needs. New developers are benefiting from Dubai's strong market performance driven by initiatives like residency permits for remote workers and retirees. Residential transaction volumes continue to rise and luxury properties, particularly villas are seeing high demand, especially from ultra-high-net-worth individuals (UHNWIs).

With the market booming, new developers face challenges in selling units quickly but many are still succeeding. Regulatory changes ensure investor protection with developers required to secure a minimum 30% guarantee before launching off-plan sales. Looking ahead, experts predict strong demand and continued growth for the Dubai property market with momentum expected to persist into 2025.