The current property market in Dubai has opened up to introduce new developmenters such as Omniyat, Damac, Vakson and Schon. Theses developers are certainly making their mark on the industry with a variety of single developments and sub-developments within larger projects. However, as the market stands now, there are two leading developers that continue to dominate the construction of freehold property in Dubai and these are Emaar properties and Nakheel properties.

Emaar, the developer that started it all

The flagship developer of freehold property was certainly Emaar, which announced the Dubai Marina project first, and then released the first finished development with The Greens. Since these humble beginnings, Emaar has branched out to add to its already impressive stand within the freehold market, and it is currently responsible for the hugely ambitious Burj Downtown development, including the Burj Tower itself, the tallest building in the world. Other popular Emaar projects include The Meadows, The Springs, The Lakes and Emaar Towers. Emaar also has its own branch of financier, Amlak, that previously was the only company to offer mortgages in the market, but now faces competition from a number of international banks in the United Arab Emirates.

Nakheel, leading the way of the future

Nakheel has followed on from Emaar by creating a large number of freehold projects that are more spread across the market, including retail complexes, luxury property and more budget property. Nakheel is most recognised globally as the developer responsible for the Palm trilogy, the first of which is almost complete, and The World. Nakheel has undertaken the difficult task of adding some unique projects onto the Dubai property market, as well as some much-needed cheaper property to bridge the gap between who can afford to own a home here. With International City and Jumeirah Village proving popular with investors, Nakheel is starting to dominate the property market and is set to do so into the next few years with The Waterfront project, Palm Jebel Ali, Palm Deira, and of course, finishing The World and Palm Jumeirah.

The Future of Dubai property

While Emaar and Nakheel will continue to have the most impact on the Dubai property market, there are other new and exciting smaller projects that anyone looking to invest should pay attention to as these can often be cheaper than the more commercialised offerings. The property market is predicted to slow down in the future, but as some projects are expected to extend even as far as 2018, we will see new and exciting developments for years to come.