Dubai real estate continues its momentum… and records transactions amounting to 16.73 billion dirhams in a week

The real estate market in Dubai continued its momentum and strong performance during last week’s transactions, as transactions exceeded 16.73 billion dirhams through the implementation of 4,529 transactions, a clear indication of the strength of the market and its ability to cohesion in the face of geopolitical tensions, based on the momentum of demand from local and international investors.

The weekly real estate transactions included sales worth 11.64 billion dirhams, distributed by 3,016 sales of residential units, 301 sales of buildings, and 250 sales of lands, with a total of 3,567 transactions, according to data from the “Dubai Rest” application of the Dubai Land Department.

Ready real estate sales amounted to about 4.6 billion dirhams through the implementation of 899 transactions, divided into 570 transactions for residential units, 79 transactions for buildings, and 250 transactions for land, while off-plan real estate sales continued to excel to record about 7.04 billion dirhams through 2,668 transactions, divided into 2,446 transactions for residential units, and 222 transactions for buildings.

Mortgage transactions recorded 837 transactions, worth 3.76 billion dirhams, distributed as follows: 508 transactions for residential units, 106 transactions for buildings, and 223 transactions for land. The value of the donations amounted to about 1.33 billion dirhams, in 125 transactions, distributed among 82 transactions for residential units, eight transactions for buildings, and 35 transactions for land.

“First Creeks” topped the list of areas during last week’s transactions, in terms of the value of real estate sales, with 871 million dirhams, followed by “Business Bay” with about 650 million dirhams, then the “Palm Jebel Ali” area, recording 627 million dirhams, the “Airport City” area with 495 million dirhams, then the “Sheikh Mohammed bin Rashid Gardens” area, which recorded 477 million dirhams.

On the level of daily performance, real estate transactions in Dubai recorded yesterday about 1.98 billion dirhams, after implementing 596 transactions, which included sales worth 1.39 billion dirhams, while the value of mortgages amounted to 182.69 million dirhams, while donations recorded 402.14 million dirhams.