Amid a thriving investment climate, the real estate sector in Dubai continues to experience a remarkable surge, registering total property transactions worth 18.2 billion AED last week. This figure reflects the ongoing robust momentum seen in the market since the beginning of the year. The impressive performance is bolstered by consistent inflows from both local and international investors, alongside a growing confidence in the market’s attractiveness and its ability to deliver stable returns.
The market has also seen significant transactions, particularly in the luxury and office asset sectors, despite surrounding regional tensions. These transactions indicate a sustained demand for high-quality assets, whether in the upscale residential sector or distinguished office spaces, reinforcing Dubai’s status as a preferred investment destination in the region.
Specifically, the data from the Dubai Land Department indicated that real estate transactions last week totaled 18.2 billion AED, derived from 4,768 deals. This included 12.7 billion AED in sales from 3,717 transactions, 3.7 billion AED in mortgages from 900 transactions, and 1.8 billion AED in donations across 151 deals.
The properties on the map accounted for the largest share of sales, reaching 7.6 billion AED through 2,786 transactions, while ready sales amounted to 5.1 billion AED from 931 transactions.
Key Areas
Geographically, the Business Bay area led with 1.5 billion AED in sales from 190 transactions, followed by the Mohammed bin Rashid Gardens with 817 million AED from 71 transactions, and the Airport City area with 621 million AED from 330 transactions. Additionally, the Elysian area reported sales of 411 million AED through 55 transactions, while the Deira Island area recorded 391 million AED from 124 transactions.
Throughout the week, the market witnessed several noteworthy deals, including a donation transaction in the Palm Jumeirah area within the “Amwaj Royal” project valued at 1 billion AED. A building in the Burj Khalifa area was mortgaged for 525 million AED, and a commercial plot in the Al Jadaf area was sold for 300 million AED.
Furthermore, a luxurious off-plan apartment in the Burj Khalifa area sold for 121.8 million AED, while another unit in Bluewaters was sold for 90 million AED. An office unit under construction in the Business Bay area within the “Lumina by Ominyat” project was also sold for 50 million AED.