Dubai Property Sales Reach Up to $100m Per Day Despite Tensions, Azizi CEO

Dubai, UAE: Dubai’s property market continues to demonstrate strong resilience despite regional geopolitical tensions, with daily real estate transactions reaching as much as $100 million, according to Farhad Azizi, Group CEO of Azizi Group.

Speaking in an interview with Khaleej Times, the Dubai-based developer said construction activity across the company’s large development pipeline remains unaffected, with projects progressing on schedule and buyer demand continuing to support strong sales performance.

Azizi Developments currently has nearly 200 buildings under construction, with a further 120 to 130 projects in the design stage, reflecting the company’s ongoing expansion across the emirate’s residential and mixed-use sectors.

We have almost 200 buildings under construction, and another 120-130 are in the design stage. All of those projects are progoressing as normal, and the demand is there. We're not building homes for ourselves. We expect the demand to continue. Obviously, there are cycles for any industry in any mature market. Now, we're at the peak, and it will continue to be so,

he said.

Strong Sales Momentum During Ramadan

Despite initial concerns around the potential impact of the Israel–Iran military conflict on regional markets, Azizi said property sales quickly rebounded after a brief slowdown at the beginning of Ramadan.

“The turnout at our sales event was a bit low in the first two days when the conflict started for our sales, but then people came back, and sales are happening. Banks are offering mortgages to end-users and investors,” Farhad said during the interview on the sidelines of the month-long Ramadan sales event at Meydan Hotel.

On the opening day of the event alone, Azizi Developments recorded $101 million (AED372 million) in property sales. The company is currently selling an average of $49 million to $52 million (AED180 million to AED190 million) worth of units per day.

“In the last 20 days of Ramadan, we have had $490 million (AED1.8 billion) worth of sales. For us, it's business as usual,” said the group CEO of Azizi Developments, noting that attendance at the event reached up to 2,000 visitors on some days.

Read more: Azizi Partners with Hyprlift to Explore Ropeless Elevators in Dubai

Major Hospitality Investment Pipeline

Alongside its residential development pipeline, Azizi Group recently announced plans to invest $20.4 billion (AED75 billion) in the UAE’s hospitality sector.

The initiative will see the development of 151 hotels, including 100 four-star hotels, 50 five-star hotels, and one seven-star property, with more than 90 percent of the portfolio expected to be located in Dubai.

Once completed, the hotel portfolio is projected to add approximately 60,000 room keys to the emirate’s hospitality capacity while generating over 75,000 jobs across the sector.

Construction Activity Continues Uninterrupted

Azizi said the developer has not experienced any disruption to construction timelines or material supply despite ongoing geopolitical developments in the region.

Key construction inputs including steel, concrete, aluminium, glass, windows, mechanical and electrical systems, and elevators are continuing to arrive as scheduled.

There has not been a hiccup despite the regional geopolitical situation, which shows the resilience of the city, and that is boosting the demand.

Dubai Market Shows Continued Stability

While some market observers have raised concerns about a potential slowdown in Dubai’s real estate sector, Azizi said the company has not reduced property prices, citing strong ongoing demand and steady sales activity.

“We had proposed to launch projects in Ramadan, and they’re coming as planned. Our plan didn't change much. Dubai has gone through challenges in the past, such as the 2008 global financial crisis, COVID-19, and the 2024 flooding. One thing that has always happened here is that Dubai consistently bounced back in the number of days, not in months or years. The city is very resilient to challenges,” he said.

“We haven't reduced prices. We've had more sales in Ramadan than in the other months. What we do quite often is we look at the situation project by project, as there are seasons where the market slows a bit organically,” he said, adding that the developer occasionally introduces promotional incentives such as waiving Dubai Land Department (DLD) fees and offering furnished units.

Azizi also reflected on the company’s longstanding connection to the UAE, noting that his family has lived in Dubai for three decades.

“We have four generations living in Dubai. We come from Afghanistan, a war-torn country. For us not to be discriminated against and to be accepted with an open heart, this means a lot to us. We started with a very humble beginning, and today we have a multi-billion dollar business, with 45,000 people working for our company. We're very proud of this city and country,” he said.

In addition to its development activities, the company has also contributed significantly to charitable initiatives across the UAE.

“We make money in the city, and we have to give back to society,” he concluded.

According to Azizi, the company and the broader Dubai real estate market continue to demonstrate resilience even during periods of global or regional uncertainty, supported by sustained investor confidence and the emirate’s strong economic fundamentals.