Dubai Real Estate Market Sees $4 Billion in Transactions in a Week, Highlighted by $12 Million Business Bay Apartment Sale
Monday, 9 September 2024
According to figures from the Land Department, the Dubai real estate market had a spectacular upsurge last week, with transaction totals exceeding AED 14.65 billion ($4 billion).
Important highlights consist of:
- Sales: AED 10.93 billion ($3 billion) in sales dominated the numbers.
- Transactions: From August 19 to August 23, 3,530 sales transactions were registered.
During this time, notable transactions include:
- Vela by Omniyat: A $11.7 million (AED 42.9 million) apartment
- Six Senses Residence The Palm: An apartment sold for AED 32.8 million ($8.9 million)
- Eden House The Canal: AED 30 million ($8.1 million) was paid for an apartment
In addition to sales, the Land Department recorded mortgage deals totaling AED 2.63 billion ($716.1 million) and gift transactions valued at AED 1.09 billion ($297 million) for the same time.
