Dubai real estate sector recorded $3.3bn of transactions last week, including $13.6m Palm Jumeirah apartment.

Dubai Real Estate Records $3.3 Billion in Weekly Transactions

The Dubai real estate market continues to thrive, recording AED12.13 billion ($3.3 billion) in transactions last week, as per the Dubai Land Department.

Key Highlights

Dominance of Mortgages

• Mortgages accounted for a significant AED9.06 billion ($2.5 billion), underscoring strong investor confidence in Dubai’s property market.

Sales Transactions

• A total of 3,126 sales transactions were recorded between January 13 and January 17, reflecting robust activity across the sector.

High-Value Deals

Some of the most notable transactions include:

• Palm Jumeirah: An apartment in Ocean House sold for AED50 million ($13.6 million).
• Za’abeel First: A hotel apartment in One Za’abeel Tower fetched AED45 million ($12.3 million).
• Jumeira Bay: An apartment in BV Residences 6 sold for AED35 million ($9.8 million).

Additional Highlights

• Sales deals totaled AED2.6 billion ($708 million).
• Gift transactions for the week reached AED472 million ($128.5 million), showcasing a diverse range of property exchanges.

Dubai’s Global Appeal

The city’s man-made island developments continue to capture international attention, with Palm Jumeirah alone attracting 96,000 global searches monthly, along with 24,000 local searches within the UAE.

Dubai’s dynamic real estate market, driven by high-value transactions and consistent demand, reaffirms its status as a global investment hub.