Real estate sales in Dubai recorded 150 Billion Dirhams within 100 days, resulting from 51,913 transactions, which represents 37.5% of the sales recorded during the entire 2023, which exceeded 400 Billion Dirhams, according to data from the Land Department.
These exceptional data express the amazing momentum of real estate deals in the emirate and their high and continuous attractiveness to investors, especially since these numbers recorded since the beginning of this year are so far superior to the numbers of 2023, which was historic by all standards.
The data showed that Dubai real estate sales grew by 25% from the beginning of 2024 until yesterday, compared to the same period last year, as they jumped from 120 Billion Dirhams in 2023 resulting from 41,304 deals, to 150 Billion Dirhams in 2024 resulting from 51,913 deals. The sales deals were distributed over 5,332 plots of land, 42,827 residential units, and 3,754 buildings.
The Business Bay area topped the list in terms of sales value with 7.8 Billion Dirhams resulting from 3,696 deals, and the Jumeirah Village Circle area came second with 6,125 deals worth 6.8 Billion Dirhams, third was the Palm Jumeirah area with 574 deals worth 6.5 Billion Dirhams, and fourth was the Burj Khalifa area with 1,524 deals with a value of 5.9 Billion Dirhams, and fifth is Zabeel 1 area, through 1,596 deals worth 5.12 Billion Dirhams.
Total transactions in the Dubai real estate market recorded 228.5 Billion Dirhams, resulting from 64.8 thousand transactions, with sales recorded at 150.6 Billion Dirhams, mortgages at 64.9 Billion Dirhams, and donations at more than 13 Billion Dirhams.