Dubai Records AED 13.47 Billion in Real Estate Transactions in a Week

Real estate transactions in Dubai reached AED 13.47 billion over the past week through 4,193 deals, according to data from the "Dubai REST" application affiliated with the Dubai Land Department.

Total sales amounted to AED 8.59 billion across 2,676 transactions, distributed among 2,182 sales of residential units, 272 building sales, and 222 land sales. Ready property sales recorded about AED 5.38 billion across 962 deals, while off-plan property sales reached about AED 3.22 billion through 1,714 deals.

Mortgages recorded 1,266 transactions worth AED 3.72 billion, while gifts reached approximately AED 1.16 billion across 251 transactions. The "Dubai Marina" area topped the list of top-selling areas with a value exceeding AED 1.01 billion, followed by "Palm Jebel Ali" with about AED 739.17 million, then "Airport City" with a value of AED 382.23 million, and "Business Bay" with AED 302.12 million.

In terms of daily performance, Dubai real estate transactions yesterday recorded about AED 1.6 billion across 594 deals, including sales worth AED 1.07 billion, mortgages worth AED 421.84 million, and gifts worth AED 101.33 million. Sales accounted for 66.87% of the daily value, compared to 26.36% for mortgages and 6.33% for gifts.

What do these terms mean?

Real Estate Transactions: All buying, selling, mortgage, and gift activities carried out on real estate during a specific period of time.

Off-Plan Properties: Units sold prior to the completion of their construction, with the buyer taking delivery of the unit upon completion.

Mortgage: A loan obtained by the buyer secured by the property itself, repaid in installments.