The Land Department reports that last week’s sales in the Dubai real estate market totaled AED13.55 billion ($3.7 billion).
According to Land Department data, sales dominated the figures, with AED10bn ($2.7bn).
Between November 25 and November 29, 3,110 sales transactions were registered overall.
Dubai real estate this week
Among the most expensive sales transactions mentioned on the Land Department website were:
- Omniyat sold a flat in AVA at Palm Jumeirah for AED78.6 million ($21.4 million).
- An office in Enara by Omniyat sold for AED75m ($20.4m)
- An office in Enara by Omniyat sold for AED62.8m ($17.1m)
Last week, the Land Department also showed mortgage deals worth AED2.9bn ($790m).
Gift transactions in the same period were valued at AED597m ($162.5m).
Conclusion
The remarkable performance of Dubai’s real estate market underscores the city’s continued attractiveness to global investors and its robust economic fundamentals. These significant transactions, particularly the high-value sales in premium locations like Palm Jumeirah, reflect sustained confidence in Dubai’s property sector. The substantial volume of sales, mortgages, and gift transactions indicates a dynamic and resilient real estate ecosystem. As the market continues to demonstrate strong growth and international appeal, it reinforces Dubai’s position as a premier global real estate destination, promising continued investment opportunities and economic vitality.