Dubai real estate sector recorded $4bn of transactions last week, including $42m apartment
The Dubai real estate sector recorded AED14.64bn ($4bn) worth of property transactions last week, according to data from the Land Department.
Sales activity led the overall performance, reaching AED10.82bn ($2.95bn), as reported by the department. In total, 4,300 sales transactions were registered between October 13 and 17.
Luxury Property Deals Lead the Market
Among the highest-value transactions listed on the Land Department website were:
- An apartment in BULGARI Lighthouse on Island 2 that sold for AED155m ($42.2m)
- An apartment in Jumeirah Residences Asora Bay in Jumeirah First sold for AED70m ($19.1m)
- An apartment in One at Palm Jumeirah on Palm Jumeirah sold for AED54.25m ($14.8m)
These record-breaking deals highlight Dubai’s continued appeal among ultra-high-net-worth buyers seeking exclusive properties in prime waterfront locations.
Mortgage and Gift Transactions
The Land Department also recorded mortgage agreements amounting to AED3.05bn ($831m) during the same week.
Meanwhile, property transfers categorized as gift transactions were valued at AED770m ($210m), further reflecting the strong level of wealth movement and investment activity across Dubai’s property market.
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