Dubai’s real estate market delivered a standout performance last week, with the total value of property transactions exceeding AED 24.24 billion, reflecting continued rapid growth and the breaking of records previously set over the past year.
According to data from the Dubai REST app of the Dubai Land Department, 5,570 transactions were completed, including sales worth AED 18.39 billion. These sales were distributed across various sectors as follows: 3,378 transactions for residential units, 434 for buildings, and 504 for land plots, totaling 4,316 sales transactions. Off-plan properties accounted for around AED 7.08 billion of total sales, while ready properties captured AED 11.3 billion.
In the mortgage market, 1,183 transactions were recorded with a total value of AED 4.99 billion, including 823 transactions for residential units, 126 for buildings, and 234 for land plots. Meanwhile, the value of gifts reached approximately AED 862.61 million through 251 transactions covering residential units, buildings, and land.
As for the top-performing areas in terms of sales, “Meydan Second” ranked first with total sales of AED 3.04 billion, followed by “Al Yelayiss 1” at around AED 1.99 billion, then “Business Bay” at AED 1.41 billion, and “Sheikh Mohammed bin Rashid Gardens” with AED 801.21 million. Other notable areas included “Jaddaf Waterfront” with AED 532.32 million and “Palm Deira” with AED 429.16 million.
Daily performance also drew attention, achieving AED 3.76 billion through just 718 transactions, including sales worth AED 2.81 billion. “Meydan Second” again led the list with sales of AED 539.85 million, followed by “Jaddaf Waterfront” at about AED 501.5 million, and then “Business Bay” with AED 112.25 million.
In this context, Raad Ramadan, General Manager of Awad Gargash Real Estate, explained that Dubai’s property market is witnessing a qualitative leap in sales, stressing that demand is rising at an accelerating pace amid renewed confidence in the real estate market and the emirate’s investment climate.
Ramadan confirmed that factors of security and stability are increasingly important in enhancing the attractiveness of Dubai’s real estate market, alongside the delicate balance between supply and demand, which he described as the main driver behind price increases in some areas. He emphasized that the momentum is not limited to the secondary market for ready projects, but also extends to off-plan developments.
He also noted that major development projects such as Dubai Creek Tower will play a pivotal role in attracting investment and opening new horizons for multiple areas across the emirate in the coming years, pointing to the continued superiority of Dubai’s real estate market as a unique investment destination.
