'Dubai Marina' Tops Real Estate Transactions in Dubai at AED 13.47 Billion Weekly

Real estate transactions in Dubai recorded approximately 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, as reported by 'Argaam'.

Sales reached AED 8.59 billion across 2,676 transactions, comprising 2,182 sales of residential units, 272 for buildings, and 222 for land plots. This included around AED 5.38 billion for ready property sales and AED 3.22 billion for off-plan property sales.

Mortgages recorded 1,266 transactions valued at AED 3.72 billion, while gifts reached about AED 1.16 billion across 251 transactions.

The 'Dubai Marina' area topped the list of highest-selling areas with over AED 1.01 billion, followed by 'Palm Jebel Ali' with around AED 739.17 million, and 'Airport City' with AED 382.23 million. Meanwhile, the 'Mira Business' website reported that the weekly total reached AED 13.6 billion, with the most expensive deal being an apartment in 'Palm Jumeirah' for AED 53.6 million.

What Do These Terms Mean?

Real Estate Transactions: All buy, sell, mortgage, and gift transactions registered by the Dubai Land Department.

Off-Plan Sales: Purchasing a property unit prior to its construction based on project plans, typically priced lower than a ready unit.

Mortgage: A loan granted against pledging the property as collateral, allowing the lender to recover funds from the property's value in the event of default.