With 104 projects completed in the first half of 2026, the emirate’s market offers a reminder that launches, construction and handovers describe different stages of development.
Dubai completed 104 real estate projects in the first half of 2026, compared with 75 in the same period a year earlier, according to Dubai Land Department figures released in August. The numbers place completed development alongside sales and new launches as a distinct measure of activity in the emirate.
That is useful context for developers outlining their next phase of investment. In a September interview, Karma Developers co-founder Capt. Pradeep Singh described plans to deepen the company’s Dubai presence, including a planned commercial tower called Latitude 25. The stated direction is towards further development, while the city’s latest figures measure projects that have already reached completion.
For readers following the market, the difference is fundamental. An announced project is a proposal for future space. A project under construction is work in progress. A completed building adds something that can be handed over and used. Combining those stages into a single growth narrative obscures the timing of the supply entering the city.
What the completion figures measure
The official figures reported by Emirates News Agency put the investment value of the 104 completed projects at more than AED111 billion, up from AED73 billion a year earlier. New real estate units totalled 24,537, compared with 18,043 in the first half of 2025.
The completed and ready-for-handover built-up area reached 1.95 million square metres. That figure measures space, while the project count measures developments and the unit count measures individual properties. Each provides a different view. A single large project and several smaller developments can produce very different relationships between the number of projects and the amount of accommodation delivered.
None of those measures, by itself, establishes the performance of an individual developer. Nor is the investment value of completed projects the same as the value of sales registered during the period. The data is most useful when those distinctions remain visible, particularly when comparing a city-wide release with a company’s pipeline announcement.
Karma’s stated next phase
In the 15 September interview with Entrepreneur Middle East, Singh discussed Karma’s development pipeline and its intention to make a further commitment to Dubai. Latitude 25 was described as the company’s next major launch, aimed at commercial occupiers, entrepreneurs and investors.
The distinction between commercial space and housing is relevant. Offices serve an operating requirement for businesses, while residential properties serve households and residential investment demand. A developer active in both is not simply adding more units of the same kind. The planned building’s eventual size, location, specification and delivery programme will determine how it fits the existing stock.
The interview provides evidence of management’s intentions, not confirmation of a completed launch or handover. It does not warrant treating the proposed tower as available office supply. Until detailed project disclosures are published, its significance is that it indicates the direction of Karma’s next investment rather than the volume of space already delivered.
Singh’s background spans shipping and property. That connection gives the story a business context without turning it into a forecast. Both sectors involve long-lived assets, but an analogy between them cannot establish future rents, prices or the timing of a property cycle.
A pipeline with different stages
Karma’s corporate profile identifies Singh as a co-founder alongside Navneet Mandhani, co-founder and CEO, and Shahzad Saxena, co-founder and director of architecture. It lists residential developments and joint ventures across its portfolio. Those distinctions matter when attributing a project to a company or an individual executive.
The company also maintains a construction-update page with separate entries for Olivia Residences, Trinity Residences, Milos and Antalya. The page shows September 2026 update headings for Olivia and Trinity, while other entries indicate that further updates are forthcoming. It is an example of project-level information sitting alongside broader corporate descriptions.
A monthly update is useful because it establishes the date of the material being presented. It still needs to be interpreted according to what it actually contains. A photograph can document a visible stage of work, while a formal project-status entry records information within a different reporting process. Neither should be silently converted into a guarantee of the date on which an individual buyer will receive keys.
This is particularly important for readers comparing several projects. A company’s total pipeline is a measure of work at different stages, potentially across different markets and ownership structures. It is not a statement that all the space will arrive in the same period or that every development has the same commercial profile.
Public records add a second reference point
Dubai Land Department’s Project Status Enquiry service allows users to look up project information and completion percentages. The service gives a separate official reference point from a developer’s brochure or a sales listing. Searches are tied to the relevant project, making accurate identification important.
The existence of that service does not mean that a published company update and an official record will always carry identical dates. They may refer to different reporting moments. A careful account of development activity therefore identifies the project, the source and the date before drawing comparisons. This article does not assign an unverified completion percentage to any Karma project.
The latest city-wide release establishes that a substantial volume of development reached completion during the first half of the year. Karma’s September statements establish an intention to add further projects to its Dubai business. The next concrete development to watch is the publication of detailed information for Latitude 25, allowing the announced commercial direction to be assessed against a defined project and delivery programme.
