Dubai Real Estate Transactions Reach AED 2.05 Billion Across 663 Deals on Wednesday

Data from the Dubai Land Department, via the "Dubai REST" application, showed real estate transactions worth AED 2.05 billion across 663 deals on Wednesday, according to a report by Al Khaleej newspaper.

Sales reached AED 1.5 billion across 450 deals, led by "Palm Jebel Ali" with AED 208 million, followed by "Sheikh Mohammed Bin Rashid Gardens" with AED 114 million, and "Palm Jumeirah" with AED 101 million.

Mortgages recorded AED 446 million across 170 deals, the largest of which were in "Jebel Ali Industrial First" at AED 100 million, "Al Hebiah Fifth" at AED 38 million, and "Palm Jumeirah" at AED 32 million.

Gifts reached AED 106 million across 43 transactions, led by the "Dubai Harbour" area with AED 27.3 million, followed by "Palm Jumeirah" with AED 18.3 million, and "Me'aisem Second" with AED 14 million.

What Do These Terms Mean?

Dubai Land Department: The government entity responsible for registering and documenting real estate transactions in Dubai and issuing its daily data.

"Dubai REST" App: An official platform affiliated with the department that displays daily real estate deal data in the emirate.

Real Estate Gift: The transfer of property ownership without financial consideration, officially registered with the department and included in daily transactions.