Dubai’s real estate sector witnessed a significant week, with transactions totaling $3.9 billion, including a notable $1.6 billion in apartment and villa sales.
According to information provided by the Dubai Land Department, the real estate sector in Dubai witnessed transactions totaling AED14.2 billion ($3.9 billion) this week.
In the week ending January 26, 2024, a total of 4,123 transactions took place.
The latest data indicates that AED2.95 billion ($803 million) worth of transactions were attributed to the sale of 312 plots, while AED5.84 billion ($1.6 billion) was generated from the sale of 2,696 apartments and villas.
Dubai real estate last week
The highest-priced land transaction this week involved the sale of a plot in Al Barsha South Second, fetching AED210.1m ($57m). Following closely were transactions in Saih Shuaib 2, totaling AED103.74m ($28m), and Saih Aldahal, where a plot was sold for AED100m ($27m).
Madinat Hind 4 witnessed the highest number of sales transactions this week, totaling 133 and amounting to AED338.03m ($92m). Al Hebiah Fifth secured second place with 49 transactions valued at AED168.94m ($46m), while Al Hebiah Fourth claimed the third spot with 20 transactions amounting to AED500.12m ($136m).
In the realm of apartments and villas, the top three transfers included a property in Nad Al Sheba First, which changed hands for AED177.13m ($48m). Following closely, an apartment in Palm Jumeirah was sold for AED78.63m ($21m), and a third-place position was secured by another Palm Jumeirah apartment, changing ownership for AED44m ($12m).
