3 billion dirhams in Dubai real estate transactions today

Today, the real estate market in Dubai witnessed remarkable activity, with continued momentum in daily deals, amid recording record sales deals for a number of residential units in various areas of the emirate, ignoring the tensions in the Middle East region.
The total real estate transactions recorded about 3.01 billion dirhams, through the implementation of 940 transactions, in an indicator that reflects the strength of demand and investor confidence in the real estate market in the emirate, according to data from the “Dubai Rest” application, affiliated with the Dubai Land Department.

Sales recorded more than 2.14 billion dirhams, after the implementation of 781 deals, divided into 673 sales of residential units, 52 sales of buildings, and 56 sales of lands.
While ready-made real estate sales amounted to about 823.64 million dirhams through the implementation of 151 transactions, divided into 83 sales of residential units, 12 sales of buildings, and 56 sales of lands, while sales of off-plan real estate amounted to about 1.32 billion dirhams, through 630 deals, divided into 590 sales of residential units, and 40 sales of buildings.
There were 145 mortgage transactions recorded, worth 736.53 million dirhams, distributed as 81 transactions for residential units, 24 transactions for buildings, and 40 transactions for land.

In turn, the value of the donations amounted to about 139.11 million dirhams, in 14 transactions, distributed among nine transactions for residential units, one building, and four land transactions. Thus, real estate sales accounted for 70.7% of the total value of transactions recorded today, while the share of mortgages was 24.6%, while donations accounted for 4.6%.

Record deals
Today, the real estate market in Dubai recorded a number of record deals, the most prominent of which was the sale of luxury apartments off-plan, a clear indication of the strength of demand and the continued investment momentum and investor confidence in the emirate.
A luxury off-plan apartment in the Jumeirah 1 area was sold for 84.6 million dirhams, with an area of ​​about 11,566 square feet, equivalent to about 1,074 square metres, with an average price exceeding 7,317 dirhams per square foot.
A luxury apartment was sold off-plan in the Dubai Marsa area for 51.18 million dirhams, with an area of ​​about 7,814 square feet, equivalent to about 726 square metres, with an average price exceeding 6,550 dirhams per square foot.