Dubai Real Estate Transactions Reach AED 11.19 Billion in a Week Across 3,901 Deals

Real estate transactions in Dubai recorded over AED 11.19 billion during last week's trading through 3,901 deals, according to data from the "Dubai REST" application affiliated with the Dubai Land Department.

The transactions included sales worth AED 7.58 billion across 2,641 deals, distributed as 2,259 sales of residential units, 164 sales of buildings, and 218 sales of land plots. Sales of ready properties reached around AED 4.42 billion through 1,016 deals, while off-plan property sales recorded AED 3.15 billion across 1,625 deals.

Mortgages recorded 1,023 transactions worth AED 2.18 billion, while gifts reached approximately AED 1.43 billion across 237 transactions.

Palm Jebel Ali topped the list of highest-selling areas with a value exceeding AED 421.65 million, followed by Business Bay at around AED 416.19 million, then Palm Jumeirah at approximately AED 328.51 million, with Dubai Hills ranking fifth at around AED 241.89 million.

What do these terms mean?

Real Estate Transactions: All sales, mortgage, and gift operations registered on real estate, including sales, mortgages, and gifts.

Off-Plan Properties: Units sold before their construction is completed according to the project plan, also known as off-plan sales.

Mortgage: An agreement in which a borrower pledges a property as collateral for a loan, officially registered with the relevant authority.

Dubai REST: An official application affiliated with the Dubai Land Department that provides real estate transaction data.