Dubai Records AED 10.92 Billion in Real Estate Transactions in a Week Across 3,717 Deals
Dubai's real estate transactions reached AED 10.92 billion last week across 3,717 deals, compared to AED 13.47 billion across 4,193 deals in the previous week.
Dubai real estate transactions recorded AED 10.92 billion during last week's trading across 3,717 deals, according to data from the "Dubai REST" app of the Dubai Land Department. The transactions included sales worth AED 6.97 billion, mortgages worth AED 2.56 billion, and gifts valued at around AED 1.39 billion.
Sales were distributed across 2,467 sales transactions, including 2,071 residential unit sales, 209 building sales, and 187 land sales. Ready property sales reached approximately AED 4.09 billion across 921 deals, while off-plan property sales reached around AED 2.87 billion across 1,546 deals. Mortgages recorded 1,001 transactions worth AED 2.56 billion, while gifts totaled 249 transactions worth AED 1.39 billion.
Al Ruwayyah First topped the list of highest-selling areas with a value exceeding AED 1.08 billion, followed by Business Bay with approximately AED 393.6 million, and Palm Jumeirah worth AED 274.86 million. Al Hebiah Fifth ranked fourth with a value of AED 229.78 million, followed by Al Yufrah First with around AED 208.1 million, then Airport City with more than AED 194.27 million, while Burj Khalifa ranked seventh with about AED 189.84 million.
On a weekly basis, last week's transactions were lower than the AED 13.47 billion across 4,193 deals in the week ending October 16. On the daily performance front, transactions on Friday, October 23, recorded around AED 2.23 billion across 543 deals, including sales worth AED 1.81 billion, mortgages worth AED 304.77 million, and gifts valued at AED 115.83 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 construction is completed according to the project plan, also known as off-plan sales.
Mortgage: An agreement in which a borrower places a property as collateral for a loan, officially registered with the competent authority.
Dubai REST: An official application affiliated with the Dubai Land Department providing real estate transaction data.
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