Dubai Records AED 11.2 Billion in Real Estate Transactions in a Week

Dubai's weekly real estate transactions reached AED 11.2 billion across 3,900 deals during the week ending October 9, according to data from the Dubai Land Department published via the 'Dubai REST' application.

Sales amounted to AED 7.6 billion distributed over 2,650 deals. The largest transactions occurred in Palm Jebel Ali at AED 422 million, Business Bay at AED 417 million, Palm Jumeirah at AED 329 million, followed by Al Yufrah 1 at AED 256 million, Dubai Hills at AED 242 million, and Burj Khalifa at AED 238 million.

Mortgages recorded AED 2.2 billion across 1,010 deals, led by a transaction in Burj Khalifa at AED 254 million, and two deals worth AED 100 million each in Al Nahda First and Jebel Ali Industrial First. Grants approached AED 1.45 billion across 240 transactions, most notably in Palm Jumeirah at AED 399 million, Jumeirah Bay at AED 229 million, and Dubai Marina at AED 108 million.

In terms of daily trading, Friday's transactions reached AED 1.8 billion across 475 deals, divided between AED 917 million in sales across 335 deals, AED 425 million in mortgages across 115 deals, and AED 440 million in grants across 25 transactions.

What Do These Terms Mean?

Dubai real estate transactions: The total sales, mortgage, and grant operations registered in the emirate within a specific timeframe, published by the 'Dubai REST' application belonging to the Land Department.

Mortgage: An agreement by which a buyer obtains financing from a bank in exchange for mortgaging the property, registered with the Land Department.

Real estate grants: Transferring property ownership without financial consideration between related parties or specified relationships, counted among transactions.

'Dubai REST' App: A digital platform affiliated with the Dubai Land Department displaying registration data and real estate transactions.