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Dubai real estate market deals AED 11 billion!
Dec 12, 2023
Dubai real estate market deals AED 11 billion! Dubai
By   Internet
  • City News
  • Dubai Real estate
  • property transactions
  • Property records
Abstract: The real estate market in Dubai has recently achieved a record-breaking transaction volume of 11 billion dirhams (approximately 3 billion USD). This figure includes sales transactions of land, apartments, and villas. Among them, 357 plots of land were sold for a total of 2.18 billion dirhams (594 million USD), while 2,113 apartments and villas were sold for a total of 4.86 billion dirhams (1.324 billion USD).

In the week ending December 8th, the highest land transaction volume was recorded in Al Thanyah Fifth, with a sale price of 268.02 million dirhams (approximately 73 million USD). It was followed by land in Saih Shuaib 2, sold for 95.56 million dirhams (approximately 26 million USD), and land in Saih Shuaib 3, sold for 83.93 million dirhams (approximately 23 million USD). These transactions indicate that purchasing land remains a preferred choice for investors.


In terms of apartment and villa sales transactions, an apartment in Al Wasl took the top spot with a sale price of 135 million dirhams (approximately 36.7 million USD), followed by another apartment in Al Wasl with the same sale price. Additionally, an apartment in Jumeirah Palm Island was sold for 87.43 million dirhams (approximately 24 million USD). This highlights the significance of purchasing high-end apartments and villas for investors.

Dubai real estate market deals AED 11 billion!

Dubai's real estate market also saw significant mortgage transactions, with a total mortgage value of 3.29 billion dirhams (896 million USD) for the week. The highest mortgage amount was recorded for a piece of land in Jumeirah Palm Island, with a mortgage value of 2.08 billion dirhams (566 million USD). These figures reflect the confidence of many real estate investors and their positive outlook on Dubai's real estate market.


Furthermore, there were 162 property transfers between immediate family members during the week, with a total value of 641 million dirhams (174.5 million USD). This indicates the liquidity of Dubai's real estate market. Despite the ongoing global pandemic, these data demonstrate that Dubai's real estate market continues to exhibit strong growth and attractiveness, making it a popular choice for investors.

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