The Dubai real estate sector has witnessed a remarkable week, with a staggering AED 15.9 billion ($4.3 billion) in transactions. According to data from the Land Department, this marks a significant increase of almost $500 million compared to the previous week.
Sales transactions dominated the market, with a total value of AED 10.15 billion ($2.76 billion). The Land Department recorded a total of 4,239 sales transactions during the past week.
Some of the top sales transactions listed on the Land Department website include:
- An apartment in ORLA by Omniyat, Palm Jumeirah, sold for AED 49,422,470 ($13.5 million)
- An apartment in Vela by Omniyat, Business Bay, sold for AED 44,454,545 ($12.1 million)
- An apartment in BV Residences, Jumeira Bay, sold for AED 38.5 million ($10.5 million)
In addition to sales transactions, mortgage deals worth AED 4.36 billion ($1.2 billion) were recorded between May 27 and May 31. Gift transactions in the same period were valued at AED 1.4 billion ($381 million).
Stay tuned for more updates on the Dubai real estate market!
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