Dubai’s real estate market records over AED11.3 billion in weeklong transactions

According to data supplied by the Dubai Land Department, 2,217 real estate transactions of AED7 billion were made for the week ending October 28, 2022.

A total of 234 plots were sold for AED2.26 billion, while AED4.74 billion was spent on 1,983 apartments and villas.

97 properties totaling AED2.25 billion were granted to first-degree relatives, while the total value of mortgaged properties for the week was AED2.23 billion.

The top three land deals included a land sale in Palm Jumeirah for AED300 million, a land sale in Island 2 for AED130 million, and a land sale in World Islands for AED86 million. With 105 sales transactions totaling AED353 million, Jebel Ali had the most transactions this week, followed by Mohammed bin Rashid Gardens with 29 sales transactions totaling AED634 million and Al Mamzar with 23 sales transactions totaling AED166 million.

Palm Jumeirah sold its top three apartment and villa transactions for a combined AED60 million, followed by Umm Suqeim Third’s AED49 million and Me’aisem First’s AED45 million sales.

With 269 sales transactions totaling AED449 million, Business Bay had the highest transactions this week, followed by Dubai Marina with 241 sales transactions totaling AED939 million and Barsha South Fourth with 170 sales transactions totaling AED143 million.