Dubai Property Market Hits $4bn in Weekly Deals, Palm Jumeirah Sets Record

Record-Breaking Week in Numbers

Dubai’s property market demonstrated remarkable activity, with the Land Department reporting transactions worth AED14.54bn ($4bn) from November 11-15, 2024.

Transaction Breakdown

• Sales transactions: AED9.12bn ($2.5bn)
• Mortgage deals: AED3.33bn ($907m)
• Gift transactions: AED2.09bn ($569m)

Premium Property Highlights

Top Sales This Week

1. Six Senses Residences, The Palm
   • Sale price: AED130m ($35.4m)
   • Property type: Apartment
2. Bugatti Residences by Binghatti
   • Sale price: AED110.1m ($30m)
   • Property type: Apartment
3. Burj Khalifa Towers
   • Sale price: AED50m ($13.6m)
   • Property type: Office space

Market Activity Overview

The week saw 3,229 sales transactions, highlighting strong market momentum across Dubai’s property sector.

Key Areas of Interest

• Palm Jumeirah continues to lead luxury segment
• Downtown Dubai maintains commercial appeal
• Branded residences show increasing demand

Investment Insights

Premium Property Trends

• Luxury residential sector remains robust
• Branded developments command premium prices
• Commercial property market shows strength

Market Performance Indicators

Transaction Volume

• Over 3,000 weekly sales
• Significant mortgage activity
• Strong gift transaction numbers

For the latest updates on Dubai’s property market, follow official Dubai Land Department channels.

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• Dubai Real Estate Soars: 17.8% Transaction Increase in H1 2024
• Dubai Real Estate Boom: Why Investors Are Leaving London Behind in 2024