Dubai Real Estate Market Reports 15.1 Billion Dirhams in Sales and Transactions
Dubai’s real estate market has seen a surge in transactions, with over 4,598 procedures resulting in 15.1 billion dirhams worth of sales and purchases, according to the Land Department’s Dubai Real Estate application. Sales accounted for approximately 9.8 billion dirhams, with 3,700 deals made across the emirate.
The highest value of residential sales was on Palm Jumeirah and Burj Khalifa, while apartments made up the majority of transactions. Meanwhile, land sales reached 2.87 billion dirhams through 329 deals, with the highest value being in Mohammed Bin Rashid City – District 1 and Palm Jebel Ali.
Mortgages totaled 4.4 billion dirhams through 716 procedures, with Palm Jumeirah leading in terms of value. Donations amounted to over 914 million dirhams across several industrial areas such as Al Quoz Industrial First and Palm Jumeirah’s Jumeirah Bay.
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