Dubai real estate transactions recorded approximately AED 16.276 billion during the first week of March, coinciding with the first week of Ramadan. The total real estate sales in Dubai set new record-breaking figures, reaching AED 11.51 billion through 3,573 sales transactions.
According to data from the Dubai Land Department, the first week of March, which also marks the first week of Ramadan, saw a total of 2,884 residential unit sales transactions. Additionally, 391 buildings were sold, along with 298 land plots during the same period.
The weekly sales transactions were distributed as follows: 353 land sales, 3,074 residential unit sales, and 410 building sales. Meanwhile, mortgage transactions included 227 land mortgages, 613 residential unit mortgages, and 105 building mortgages.
Grand Hills Dubai ranked first among areas in terms of sales value, with AED 1.1 billion, followed by Business Bay with AED 800 million, Dubai Marina with AED 680 million, Burj Khalifa area with AED 583 million, and Dubai Marina again in fifth place with AED 561 million.
Dubai’s real estate market witnessed the sale of a land plot in Grand Hills Dubai for AED 1.1 billion, the sale of a luxury villa in Jumeira Bay Island for AED 330 million, an office unit in Business Bay for AED 68 million, and an off-plan residential apartment in Business Bay for AED 39 million.
The data further revealed that the total value of mortgage transactions for the week reached AED 4.30 billion, with a total of 760 mortgage transactions recorded. These included 582 residential units, 103 buildings, and 216 land plots.
The data also highlighted strong demand in various Dubai communities and real estate developments over the past week, particularly Emaar South, Jumeirah Lakes Towers, and Arjan. Emaar South led in the number of apartment sales transactions and total mortgage transactions, while Jumeirah Lakes Towers recorded the highest number of granted transactions for offices and residential apartments.
Recent international reports indicate that Dubai’s real estate market will continue its strong growth, with significant increases in sales expected. The market is set to maintain robust performance indicators as more foreign investors enter the market and confidence in Dubai’s real estate sector continues to rise.
