Dubai’s weekly real estate transactions exceed 18.29 billion dirhams

Last week, real estate transactions in Dubai exceeded 18.29 billion dirhams, after implementing 4,767 transactions, including sales worth 12.76 billion dirhams, according to data from the “Dubai Rest” application, affiliated with the Dubai Land Department.

These numbers indicate that the Dubai real estate market, despite regional tensions, derives its strength and stability from the diversity of investment opportunities, the continuous demand for residential and commercial projects, in addition to the institutional support that enhances the market’s attractiveness to local and international investors.

The weekly real estate sales were divided into 3,243 sales of residential units, 195 sales of buildings, and 278 sales of lands, for a total of 3,716 transactions.

Ready real estate sales amounted to about 5.14 billion dirhams through the implementation of 930 transactions, divided into 581 transactions for residential units, 71 transactions for buildings, and 278 transactions for lands, while off-plan real estate sales continued to excel to record about 7.61 billion dirhams through 2,786 transactions, divided into 2,662 transactions for residential units and 124 transactions for buildings.

There were 900 mortgage transactions recorded, worth 3.72 billion dirhams, distributed as 562 transactions for residential units, 118 transactions for buildings, and 220 transactions for land. The value of the donations amounted to about 1.81 dirhams, in 151 transactions, distributed among 108 transactions for residential units, five transactions for buildings, and 38 transactions for lands.

“Business Bay” topped the list of areas, in terms of the value of real estate sales, with 1.5 billion dirhams, followed by “Sheikh Mohammed bin Rashid Gardens District” with about 817 million dirhams, then “Airport City” area, recording 621 million dirhams, while “Al Yalayis 5” came next with 411 million dirhams, then “Palm Deira”, which recorded 391 million dirhams.

At the level of daily performance, real estate transactions in Dubai yesterday recorded about 2.11 billion dirhams, after implementing 528 transactions, which included sales worth 1.38 dirhams, while the value of mortgages amounted to 576.48 million dirhams, while donations recorded 154.86 million dirhams.