Dubai Real Estate Market Booms: Weekly Transactions Reach Dh10.4 Billion

Dubai Real Estate Market Booms: Weekly Transactions Reach Dh10.4 Billion

The Dubai real estate market continues to thrive, as recent figures from the Dubai Land Department (DLD) reveal an impressive week of transactions. A staggering total of 3,050 real estate deals, amounting to a value of Dh10.4 billion, were recorded for the week ending May 5.

The DLD report highlights the diversity of transactions, with 189 plots of land sold for a total of Dh1.19 billion, and 2,239 apartments and villas changing hands for Dh5.11 billion.

Among the noteworthy transactions, a prime land parcel in Al Thanayah Fourth fetched an impressive Dh52 million, securing the top spot. This was closely followed by a land sale in Saih Shuaib 2, which amounted to Dh40.62 million. In third place, a land sale in Palm Deira reached Dh35.36 million.

In terms of sales activity, Al Hebiah Fifth took the lead with 63 transactions, amounting to Dh188.2 million. Madinat Hind 4 followed closely with 22 transactions valued at Dh29.01 million. Jabal Ali First secured the third spot with 16 transactions totaling Dh58 million.

For apartment and villa transfers, three noteworthy deals stood out. An exceptional property in Al Merkadh was sold for Dh90 million, followed by an apartment in Jumeirah Second which fetched Dh78 million. Lastly, an apartment in the iconic Burj Khalifa was sold for Dh67 million.

Mortgaged properties also played a significant role in the market, with a total value of Dh3.69 billion recorded for the week. The highest mortgage value belonged to a land parcel in Al Barshaa South Third, which amounted to Dh653 million. Additionally, 110 properties were granted between first-degree relatives, reaching a total value of Dh497 million.

Dubai’s real estate sector continues to demonstrate its resilience and attractiveness to investors, with robust transaction volumes and impressive sales figures. The market’s performance serves as a testament to the city’s thriving property landscape and its reputation as a premier global real estate destination.

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