Dubai witnessed exceptional real estate activity last week with the completion of two massive land mortgage deals involving plots in the Dubai Water Canal area, with a combined value of AED 11 billion. This reflects the strength and attractiveness of the emirate’s real estate market, according to statistics released by the Dubai Land Department.
As for the details of the two transactions, the first plot was valued at AED 10.3 billion and spans a vast area of 1.1 million square meters, while the second plot reached a value of AED 751 million with an area of no less than one million square meters as well. These huge figures clearly indicate the growing level of investor confidence in the real estate sector in the UAE.
Speaking about the overall performance of Dubai’s real estate market during the week, it can be described as a week full of activity and achievements. The market recorded total real estate transactions worth AED 13.2 billion, divided into AED 2.4 billion in sales across 559 transactions, and AED 11.3 billion in mortgages through 119 major real estate transactions. The market also witnessed gifts valued at AED 51 million through 16 transactions, highlighting the continued momentum and strong activity in the city’s real estate sector.
This outstanding performance reinforces Dubai’s leading position as a global investment destination in the real estate sector and encourages investors to continue injecting their funds with confidence into this thriving market.
