The Dubai real estate market experienced a surge in activity during the week, with a total of 19.7 billion dirhams in transactions and 5,750 procedures recorded. The majority of these transactions were sales, totaling about 14.71 billion dirhams from 4,600 deals.
In terms of sales volume, Wadi Al Safa 7 was the top-performing region, followed closely by Business Bay, Nad Al Sheba First, First Mall, and Jumeirah Village Circle. When it comes to residential units sold, off-plan units accounted for the largest share of the market. Ready-made residential units also saw a significant number of sales as did buildings and villas.
The real estate sector in Dubai also witnessed a high number of land transactions with pledges of allegiance amounting to 643. Additionally, mortgages in the market totaled 3.37 billion dirhams from 964 procedures with Business Bay leading in mortgage value.
Donations in the real estate sector reached 1.63 billion dirhams through 196 transactions during the week. Business Bay once again took a significant share of this market segment while other regions such as Emirates Hills and Dubai Sports also had high donation values. The diverse range of transactions in the Dubai real estate market reflects a vibrant and active market that continues to grow and thrive despite global economic challenges.
Overall, the Dubai real estate market remains strong with high levels of activity across different sectors including sales, land transactions and mortgages. As one of the world’s fastest-growing economies, Dubai continues to attract investors and businesses looking for prime investment opportunities in this dynamic industry.