Dubai’s real estate transactions recorded AED 18.6 billion last week through 5,259 transactions, according to the Dubai Land Department. The department registered more than 4,278 sales transactions worth AED 14.9 billion, along with 909 mortgage transactions valued at AED 2.8 billion. In addition, 166 gift transactions were recorded with a total value of AED 943 million.
Weekly sales transactions were distributed as follows: 329 land sales, 3,450 residential unit sales, and 499 building sales. Mortgage transactions included 213 land mortgages, 491 residential unit mortgages, and 118 building mortgages.
Sales of ready properties in Dubai reached AED 7.5 billion across 1,507 transactions, while off-plan property sales amounted to AED 7.3 billion through 2,771 transactions.
Geographical distribution of sales
Al Yelayiss 1 ranked first in terms of sales value at AED 984 million, followed by Me’aisem Second with AED 775 million. Palm Jebel Ali came third with AED 755 million, Business Bay fourth with AED 685 million, and Dubai Airport City fifth with AED 501 million.
The market also witnessed a mortgage transaction for an under-construction hotel unit in The World Islands valued at AED 552 million, in addition to the sale of an off-plan residential apartment in Jumeirah Second for AED 210 million.
