Last week, real estate transactions in the Dubai Land Department totaled 11.7 billion dirhams, resulting from approximately 3,400 deals. This impressive figure reflects the strong confidence of investors, a diverse range of investment opportunities, high rental yields, and the overall attractiveness of the market, despite regional tensions.
The department recorded over 2,632 property sales amounting to 8.4 billion dirhams, alongside 620 mortgage agreements valued at 2.9 billion dirhams, and 148 gift transactions worth 403 million dirhams.
Weekly sales transactions included 194 land sales, 2,198 residential unit sales, and 240 building sales. In terms of mortgages, there were 170 land mortgages, 404 residential unit mortgages, and 83 building mortgages.
Dubai’s ready property sales reached 3.6 billion dirhams from 843 transactions, while off-plan property sales amounted to 4.8 billion dirhams from 1,792 deals.
The Al Yalayis 1 area ranked highest in sales value with 528 million dirhams, followed by Palm Jumeirah at 483 million dirhams, Jumeirah Second at 461 million dirhams, Al Muhaisna 2 at 374 million dirhams, and Deira Island at 302 million dirhams.
Among notable transactions, a landmark sale of an off-plan residential apartment in Jumeirah Second within the “Aman Residences” project occurred for 422 million dirhams. Additionally, a plot of land in La Mer was sold for 121 million dirhams, as well as an under-construction office unit in Business Bay for 50 million dirhams.
2632
Sales totaling 8.4 billion dirhams
620
Mortgages totaling 2.9 billion dirhams