Dubai is one of the world’s leading tourist destinations, brimming with luxury, diversity and innovation in the hospitality sector. In recent years, hotel real estate has witnessed increasing demand, which reflects the rapid development of this vital sector. Dubai Land Department figures show that during the first quarter of this year, the sector witnessed 1,199 hotel property sales deals with a total value of 2.28 Billion Dirhams.
Hotel real estate sales during the first 3 months included 668 sales deals for hotel apartments, worth 1.73 Billion Dirhams, including 238 sales deals for off-plan apartments, worth 336 Million Dirhams, in addition to 430 sales deals for ready-made hotel apartments, worth 1.39 Billion Dirhams. 531 sales deals for hotel rooms, worth 544.6 Million Dirhams, were recorded, including 333 off-plan sales deals for hotel rooms in facilities under construction, worth 317.3 Million Dirhams, in addition to 198 sales deals for ready-made hotel rooms, worth 227.2 Million Dirhams.
Most Popular Areas
The Burj Khalifa area ranked first, accounting for the largest share of hotel apartment sales in Dubai, during this period, as it recorded 166 sales deals, worth 868 Million Dirhams, followed by the Dubai Creek Harbor area with 46 deals, worth 165.7 Million Dirhams. Al Sufouh Gardens ranked third with 58 deals, worth 133 Million Dirhams.
Most Expensive Deals
It seems clear that requests for residence and investment in these luxurious and comfortable units are rising, as the visitor here combines the charm of hotels and home comfort, and the most expensive hotel apartment was sold during the first quarter of the year 2024 for a value of 55 Million Dirhams in the Marsa Al Arab region, according to the department’s data, and the apartment consists of It consists of 3 rooms and a hall, with an area of 250 square meters.
The continued demand for hotel properties in Dubai reflects not only the economic and tourism development of the city, but also highlights its superiority in meeting the requirements and aspirations of tourists from all over the world.
The second most expensive hotel apartment in the Jumeirah Beach Residence area was sold for 26 Million Dirhams within the Jumeirah Gate project. The apartment consists of 4 rooms and a hall and extends over an area of 335 square meters, while the third most expensive apartment in the Burj Khalifa area was sold for 21 Million Dirhams and consists of 4 rooms and a hall and extends over Area: 329 square meters.