Dubai continues to captivate global investors with its dynamic real estate market, which remains a testament to the city’s thriving economy and world-class infrastructure. Last week, according to the Dubai Land Department the sector achieved exceptional activity, recording transactions worth AED21.99 billion ($6 billion). These figures further cement Dubai’s reputation as a premier hub for real estate investment.
Mortgage Transactions Dominate Market Activity
Out of the total transaction recorded, mortgages accounted for AED 11.02 billion ($3.4 billion). This substantial volume underscores the strong confidence in Dubai’s real estate market, with individual and institutional investors actively leveraging opportunities to acquire property assets through financing.
Over 3,000 Sales Transactions in Five Days
Between December 23 and December 27, the Land Department registered 3,345 sales transactions. This reflects the sustained demand for both residential and commercial properties, reinforcing Dubai’s status as a global hotspot for real estate investment.
High-Value Property Deals
During the week, several high-value transactions showcased the appeal of Dubai’s luxury property market:
- Royal Atlantis Resort and Residences, Palm Jumeirah: An apartment was sold for AED58 million ($15.8 million), making it one of the week’s most notable transactions.
- Sobha Seahaven: A luxury apartment fetched AED27.34 million ($7.4 million).
- Damac Bay: Another premium apartment was acquired for AED26.8 million ($7.3 million).
These transactions highlight the allure of Dubai’s high-end real estate, particularly in prestigious areas like Palm Jumeirah.
Additional Sales and Unique Gift Transactions
Beyond high-value sales, the week saw AED9.25 billion ($2.5 billion) in other property transactions. Additionally, gift transactions, an exclusive aspect of Dubai’s real estate landscape amounted to AED1.72 billion ($468 million), demonstrating a blend of investment activity and familial property transfers.
These strong numbers emphasize the resilience and vibrancy of Dubai’s real estate sector. Consistent demand, robust mortgage activity, and significant high-value deals highlight its appeal to global investors. With ongoing strategic developments and investor-friendly policies, Dubai remains a leading destination for those seeking lucrative real estate opportunities.
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