Dubai Real Estate Sees Huge Surge in Sales with $4.8bn Transactions Last Week

The Dubai real estate sector has witnessed a major upswing, with a staggering $4.8 billion (AED17.5 billion) worth of transactions recorded last week, according to data from the Land Department. This marks a significant increase of around $500 million compared to the previous week’s sales of $4.3 billion.

Sales dominated the figures, accounting for a substantial $3.6 billion (AED13.34 billion) of the total transactions. The week saw a total of 4,182 sales transactions take place between June 3 and June 7.

Among the top-listed sales transactions on the Land Department website were:

• An apartment in Serenia Living – Tower 3, Palm Jumeirah, which sold for a whopping $30 million (AED110 million)
• An apartment in FIVE LUXE, Marsa DXB, which fetched $14.7 million (AED54 million)
• An apartment in Six Senses Residences The Palm, Palm Jumeirah, which sold for $13.4 million (AED49 million)

In addition to sales, mortgage deals worth $803 million (AED2.95 billion) were also recorded during the same period. Gift transactions valued at $338 million (AED1.24 billion) were also witnessed.

Stay tuned for more updates on the Dubai real estate market and its trends.