Dubai plans to launch several projects, including the construction of high-rise towers and new residential communities, capitalizing on the high demand for real estate in the emirate, Invest-Gate reports.

According to the Emirati newspaper “Al Khaleej”, developers announce new projects weekly and confirm that sales are completed within hours or days.

This comes amid expectations that the prices of luxury Dubai real estate will increase by an additional 5% this year, outperforming London by 2% and New York by 3%.