Dubai Real Estate Market Surges with $4.9 Billion in Weekly Transactions
The Dubai real estate sector continues to thrive, recording an impressive AED17.95 billion ($4.9 billion) in transactions last week, according to data released by the Dubai Land Department. This robust performance underscores the city’s strong property market, driven by high-value sales and increasing investor confidence.
Sales Transactions Dominate Market Activity
Out of the total transactions, sales made up AED12.6 billion ($3.4 billion), with 3,450 property sales recorded between February 17 and February 21. These numbers reaffirm Dubai’s position as a global real estate hotspot, attracting buyers from around the world.
Notable High-Value Sales
Among the standout transactions of the week were several luxury property deals, including:
- An apartment in Muraba Veil, Water Canal area – Sold for AED33 million ($9 million)
- Another apartment in Muraba Veil, Water Canal area – Sold for AED30.4 million ($8.3 million)
- An apartment in One at Palm Jumeirah – Sold for AED29 million ($7.9 million)
These high-end properties reflect the increasing demand for prime real estate in Dubai’s most sought-after locations, particularly waterfront residences that offer unparalleled luxury and exclusivity.
Mortgage and Gift Transactions Also on the Rise
Beyond sales, mortgage transactions reached AED3.47 billion ($945 million), demonstrating continued confidence in property financing. Additionally, gift transactions totaled AED1.88 billion ($512 million), further boosting overall market activity.
Dubai’s Real Estate Growth Shows No Signs of Slowing
With sustained investment inflows, premium property transactions, and strong sales momentum, Dubai’s real estate market remains a lucrative sector for investors. The emirate’s strategic developments, world-class infrastructure, and business-friendly policies continue to attract global buyers, reinforcing its position as a premier real estate destination.
As Dubai’s real estate market evolves, buyers and investors can expect continued opportunities, particularly in high-end residential properties and waterfront developments. Stay tuned for more insights and updates on Dubai’s thriving property landscape.
Source: Arabian Business
