Dubai Real Estate Soars: $3.8 Billion in Weekly Transactions, Highlighted by $15.5M Palm Jumeirah Sale

Dubai Real Estate Soars: $3.8 Billion in Weekly Transactions, Highlighted by $15.5M Palm Jumeirah Sale

Dubai Real Estate Sector Records $3.8 Billion in Transactions Last Week

The Dubai real estate market continues to showcase remarkable activity, with the sector recording AED 13.83 billion ($3.8 billion) in transactions during the week of January 20 to January 24, according to data from the Dubai Land Department.

Sales Transactions Lead the Market
Sales transactions accounted for the majority of the activity, amounting to AED 10.65 billion ($2.9 billion). A total of 3,614 sales deals were recorded during this period, reflecting the robust demand and dynamic nature of Dubai’s real estate sector.

Top Transactions of the Week
The week also saw some high-profile transactions, including:

  • AVA at Palm Jumeirah by Omniyat: An apartment sold for AED 56.9 million ($15.5 million), making it the most expensive transaction of the week.
  • Baccarat Residence T1 (Burj Khalifa area): An apartment sold for AED 31 million ($8.4 million).
  • Baccarat Residence T2 (Burj Khalifa area): Another apartment sold for AED 25.3 million ($6.9 million).

Mortgage and Gift Transactions
In addition to sales, the Land Department recorded mortgage deals worth AED 2.43 billion ($662 million). Gift transactions during the same period were valued at AED 748 million ($203.5 million).

These figures highlight the sustained growth and investor confidence in Dubai’s real estate market, which remains a key sector in the emirate’s economy.

Stay tuned for more updates on Dubai’s dynamic property market!

Source: Arabian Business