Dubai Real Estate Market Sees $4.3 Billion in Transactions This Week
Dubai’s real estate sector witnesses a significant surge with over $4.3 billion in transactions, with sales dominating the market. Get the latest insights into the Dubai real estate market.
By Vadim Kouznetsov, published
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!
The UAE week, every Monday
The week's stories on jobs, visas, money and daily life in one short email. Unsubscribe in one click.