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A total of 120 new projects were launched in Dubai in the past 24 months, with investors being drawn to the off-plan market due to attractive prices and payment plans, according to a local real estate portal.

“The Dubai market witnessed 120 new project launches in the last 24 months,” said Eric Hodges, Head of research, Lookup.ae.

Emaar Properties, Nakheel, Damac Properties, Meraas Holding, Meydan and Dubai Properties have announced the maximum number of launches.

He stated that the market for ready properties had cooled down after appreciating an average of between 35-45 per cent since 2012. He added that independent analyst reports pointed to a correction of between seven per cent and 10 per cent for mature communities over the past 12 months.

The off-plan property market, he said, has become particularly attractive with a large number of developers offering well-priced properties and flexible payment plans.

Read more at Emirates 24/7