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# Dubai Developer Pulse: August 2026
- URL: https://www.paimioresearch.com/dubai-developer-pulse-august-2026/
- Published: 2026-09-08T11:35:54.000Z
- Updated: 2026-09-26T11:20:55.000Z
- Description: Studios and one bedroom apartments dominate sales as the market narrows to the cheap ticket
- Author: Emil Hartela
- Tags: Dubai, Emaar, Equity, Market, Azizi, DAMAC, Danube, Ellington, Samana, Binghatti, Meraas, Imtiaz, Ominyat, Sobha, Aldar

Welcome to the Dubai Developer Pulse, the monthly ranking of Dubai's property developers by who is selling and who is not. The report is built on one sales metric that compares each developer's current sales pace to its own history, so a developer is measured against itself before it is measured against anyone else. Below is the list of players ranked for August 2026.

The tape is registered Dubai Land Department primary sales as of 8 September 2026\. Nothing here comes from a press release.

![](https://storage.ghost.io/c/3b/07/3b070b43-5190-4705-b3ba-ce3b29c20bb8/content/images/2026/09/image-22.png)

## The studio boom

Looking at the top performers in August, one trend is clear: smaller apartments, studios and one bedrooms, are selling extremely well and taking market share fast. A large part of this is explained by the golden visa rule changes, which reward developers in the smaller and typically cheaper segment.

For context, studios and small apartments have been losing share for the better part of 15 years. To find a comparable period when small units sold this well you have to go back a full real estate cycle, to the 2010s. From that peak the small apartment share declined gradually, year after year. What we are seeing now is not a gradual reversal but an instant jump back to the market share levels of the 2010s.

Now let's look at who is benefiting the most.

## **Azizi**

Number one for August is Azizi, and by a distance. Azizi carries a large book of smaller apartments and is currently leading on relative performance. To be very clear about what that means: Azizi leads August both in absolute volume, in AED terms, and in performance relative to itself. It is selling better than it has at any point in the past two years while sitting at the top of the sales table. Remarkable performance.

![](https://storage.ghost.io/c/3b/07/3b070b43-5190-4705-b3ba-ce3b29c20bb8/content/images/2026/09/image-21.png)

## DAMAC

In second place is DAMAC, with a strong recovery after several months of poor relative performance. In volume terms, however, DAMAC is nowhere near Azizi. Part of the gap is explained by a thinner cheap book: studios represent only 31 percent of DAMAC sales.

![](https://storage.ghost.io/c/3b/07/3b070b43-5190-4705-b3ba-ce3b29c20bb8/content/images/2026/09/image-15.png)

## Danube

Danube follows the same pattern as DAMAC. After a genuinely weak summer it is now the third best relative seller in the market, but it too trails the pack in volume. Studios make up 35 percent of Danube's sales. The market continues to reward the smaller and cheaper segment.

![](https://storage.ghost.io/c/3b/07/3b070b43-5190-4705-b3ba-ce3b29c20bb8/content/images/2026/09/image-16.png)

## The wider group

Beyond the top three, most players are selling worse than a year ago. Six of the top ten by relative performance are deteriorating. The market is best described as a declining majority and a thriving studio engine, spearheaded by Azizi. Volume sits in the studio segment; the rest of the market continues to trade sideways and dry out. August shows only modest improvement for the wider ecosystem beyond the studio developers.

![](https://storage.ghost.io/c/3b/07/3b070b43-5190-4705-b3ba-ce3b29c20bb8/content/images/2026/09/image-23.png)

## The listed sukuk issuers

All the major sukuk issuing developers, Emaar, Binghatti, Omniyat and Aldar, are selling poorly, with minimal signs of recovery in recent sales momentum. With much of their paper trading in distressed territory, this is the group to watch. At the same time, these names may offer an interesting yield opportunity for those brave enough to underwrite the sales trajectory.

## Endnote

August in one paragraph: Azizi leads on both volume and relative performance, DAMAC and Danube are recovering on the back of cheap stock, and most of the remaining market is selling less than a year ago. Studios have jumped back to the market share levels of the 2010s, and the sukuk issuers are the weakest group on the tape.

We will continue tracking how the situation evolves. Our view is unchanged: the studio segment will keep driving the majority of volume, and its share may well rise further from here. Meanwhile parts of the market look likely to enter correction, or even recession, territory. Townhouse producers and the mid to upper luxury segment continue to perform badly, with players like Emaar Development hit especially hard.  
  
### *Disclaimer*

*This report is published by Paimio Research for informational purposes only. It does not constitute investment advice, an offer, or a solicitation to buy or sell any security, sukuk, property or other financial instrument, and it should not be relied upon as the basis for any investment decision. Readers should conduct their own due diligence and consult a licensed financial adviser before acting on any information contained herein.*

*The analysis is based on transaction data registered with the Dubai Land Department and made available through the Dubai Pulse open data platform, together with public company filings and other sources believed to be reliable. Paimio Research has not independently verified this data and makes no representation or warranty, express or implied, as to its accuracy, completeness or timeliness. Registry data is subject to reporting lags, subsequent revisions and classification errors, and figures may change as records are updated. Developer attributions, project mappings and segment classifications reflect Paimio Research's own methodology and may differ from those used by the developers or other data providers.*

*Any estimates, forecasts or forward looking statements represent the opinion of Paimio Research as of the date of publication, are subject to change without notice, and may not materialise. Past sales performance is not indicative of future results. Paimio Research, its principals and affiliates may hold positions in securities or property discussed in this report and may transact in them at any time. Paimio Research accepts no liability for any loss arising from the use of this report or its contents.*

*This publication is intended for professional and institutional readers. Nothing in this report constitutes a recommendation for any particular investor.*