Q4 2024 Updates for Al Furjan / core villa communities

This is a quick look at recent activity in Murooj Al Furjan, Tilal Al Furjan & Jebel Ali Village.

• There's also a table comparing the prices psf of the main villa communities connecting off Sheikh Zayed Road.

• This is just indicative, the idea is to boil the price down to one number just for a quick valuation comparison.

Murooj Al Furjan - price update Dec 2024

Above chart is showing a listing & transaction range. For availability across Al Furjan communities - please don't hesitate to reach out to us.

• Transaction activity in Murooj Al Furjan picked up in Q3 & Q4 2024 vs Q1 & Q2.

• A steady stream of end-user and mostly mortgage buyers continues to enter the market and they continue to find more value here than many other comparable communities.

• Murooj Al Furjan is one of the only villa communities to handover in Dubai in 2024.

• Sale price are starting to stabilize after rapid increases from Q4 2023 - Q2 2024.

• Market is more stable now, but prices are still rising at a slower pace.

Rentals & take-up

Asking rentals for all property types in Murooj have come down from the kind of asks we were seeing at the time of initial handovers. But this is a normal type of price discovery you would see at time of any brand new community handing over. Also we are seeing some resistance now from potential tenants.

• Though it’s too soon to tell, we could be seeing rental values finally stabilizing and perhaps correcting.

• There is no semblance or precedent of the kind of rental values we see today versus the market before 2022. 



• In 2025 we will start to see a more townhouses handovers but villa supply is more constrained till 2026 - 2027.

• In the immediate area, Murooj Al Furjan West’s two phases are starting to handover - and that is about 520 new houses coming into the market.

• Most of them are already owned by end-users and about 20 - 30% of them will likely come up for rent.

For more information - please don’t hesitate to reach out to our team.