Dubai’s real estate sector witnessed a remarkable surge, with property transactions amounting to AED24.7 billion ($6.7 billion) in the week ending September 1, as reported by the Dubai Land Department.
During this period, a total of 3,223 transactions took place, comprising 236 plot sales valued at AED1.82 billion ($496 million) and 2,302 apartment and villa sales totaling AED4.87 billion ($1.3 billion).
The top three land transactions of the week included:
- A plot in Al Thanayah Fourth, sold for AED209 million ($57 million).
- A plot in Al Barsha South Third, changing hands for AED135.56 million ($37 million).
- Another plot in Al Barsha South Third, sold for AED104.03 million ($28.3 million).
Al Hebiah Fifth secured the lead in transaction volume, boasting 73 sales transactions worth AED310.15 million ($84.4 million). It was followed by Madinat Al Mataar, recording 38 sales transactions worth AED135.97 million ($37 million), and Madinat Hind 4, which had 38 sales transactions worth AED55.38 million ($15 million) to claim the third spot.
Among apartment and villa transactions, the top three transfers included:
- A villa in Palm Jumeirah, fetching AED95 million ($26 million).
- Another residence in Palm Jumeirah, sold for AED47.6 million ($13 million).
- An apartment in Zaabeel First, changing hands for AED47.29 million ($12.9 million).
The total value of mortgaged properties for the week reached AED16.89 billion ($4.6 billion), with the highest being a piece of land in Jebel Ali Industrial First, mortgaged for AED13.79 billion ($3.7 billion).
Furthermore, 171 properties were granted to first-degree relatives, collectively valued at AED1 billion ($272.3 million).