3.18 billion dirhams of Dubai real estate transactions in a day

The Dubai real estate market continued its daily momentum, with record deals for luxury real estate recorded, reflecting investor confidence and continued growth in the market amid positive investment trends.

The total real estate transactions recorded about 3.18 billion dirhams through the implementation of 945 deals, which included sales of more than 2.53 billion dirhams after the implementation of 726 deals, according to data from the “Dubai Rest” application, affiliated with the Dubai Land Department.

Today, Dubai real estate sales were divided into 621 sales of residential units, 58 sales of buildings, and 47 sales of lands.

Ready real estate sales amounted to about 945.74 million dirhams through the implementation of 181 transactions, divided into 118 sales of residential units, 16 sales of buildings, and 47 sales of lands, while sales of off-plan real estate amounted to about 1.59 billion dirhams, through 545 deals divided into 503 sales of residential units, and 42 sales of buildings.

Real estate mortgages recorded 186 transactions worth 413.89 million dirhams, distributed as 106 transactions for residential units, 26 transactions for buildings, and 54 transactions for land. In turn, the value of the donations amounted to about 231.67 million dirhams, with 33 transactions distributed among 19 transactions for residential units, four transactions for buildings, and ten transactions for lands.

Thus, real estate sales accounted for 79.69% of the total value of transactions recorded today, while mortgages accounted for about 13.02%, and donations accounted for about 7.29%.

Today, the real estate market in Dubai witnessed the implementation of sales deals for luxury residential apartments, the most notable of which was the sale of an off-plan residential apartment in the “Orla Infinity” project by Omniyat in the Palm Jumeirah area, on an area of ​​8,391.72 square feet, at a price of 7,797.8 dirhams per square foot, with a total value exceeding 65.43 million dirhams.

A residential apartment in the “Bakart Dubai Hotel and Residences” in the Burj Khalifa area was also resold for a value of 57.45 million dirhams, on an area of ​​10,058.85 square feet, at a price of 5,711.28 dirhams per foot.