Real estate transactions in the Dubai market recorded AED 17.3 billion in one week, resulting from 4,865 transactions, according to data from Dubai REST, the Dubai Land Department’s online application.
The value of sales reached AED 12.9 billion, resulting from 3,886 transactions. The highest value was recorded in the Palm Jebel Ali area, with AED 1.73 billion generated through 80 transactions. Al Sufouh 1 came in second with approximately AED 1.1 billion achieved through a single land transaction. Al Yalayis 1 came in third with AED 574 million generated through 181 transactions.
Mortgages also generated AED 3.52 billion through 827 transactions. The Dubai Water Canal came in first with AED 730 million generated through four transactions. Palm Jumeirah came in second with AED 222 million generated through a single transaction. Emirates Hills came in third with approximately AED 212 million generated through 12 transactions. As for donations, they reached AED 851 million through 152 transactions. Falconcity of Wonders came in first with a value of AED 213 million through a single transaction, followed by Palm Jumeirah in second place with approximately AED 162 million through 17 transactions, and the Dubai Water Canal in third place with AED 77 million resulting from three transactions.
On a daily basis, on Friday, real estate transactions reached AED 2.4 billion, resulting from 702 transactions. These included sales worth more than AED 2 billion through 592 transactions, approximately AED 255 million in mortgages (92 transactions), and finally, donations totaled AED 58 million (18 transactions).