An American report has confirmed that Dubai is witnessing the construction of a growing number of real estate projects to meet the increasing demand, especially for luxury properties, Invest-Gate reports.

The American online network, “MansionGlobal,” predicts that Dubai’s real estate market will continue its growth for over two years, reflected in the launch of more real estate projects in the emirate.

The report cited data from the latest edition of the “Savills World Cities Luxury Residential Index,” which indicated that Dubai topped all cities in the world regarding luxury home price growth in the first half of this year, with a rate of 11.2%.

During the mentioned period, the real estate market in Dubai witnessed 60,440 transactions, with a total value of AED 177.3 bn ($48.27 mn), according to the data from the Dubai Land Department. The report also highlighted that residential projects still under construction are currently the most popular among Dubai buyers and real estate investors.

Dubai continues to prove its position as the top destination worldwide for real estate investors, whether in residential or commercial properties. The report identified the most luxurious real estate projects recently launched in Dubai, including “The Oasis” on Jebel Ali Road and “Rixos Dubai Islands Residence.”