The Dubai real estate market reported an impressive AED13.55 billion ($3.7 billion) in total transactions last week, reflecting the sector’s ongoing momentum and robust activity. According to data released by the Dubai Land Department, the week from November 25 to November 29 saw significant sales, mortgage deals, and high-value property transfers.
Sales Dominate Weekly Transactions
Out of the total, sales transactions accounted for AED10 billion ($2.7 billion), showcasing the sustained demand for property investments in the emirate. A total of 3,110 sales transactions were recorded during the week, further cementing Dubai’s reputation as a global real estate hub.
Among the standout transactions, an apartment in AVA at Palm Jumeirah by Omniyat was sold for AED78.6 million ($21.4 million), making it the most expensive residential sale of the week. The luxury segment continues to thrive, particularly in high-demand areas such as Palm Jumeirah, Business Bay, and Downtown Dubai.
High-Value Office Sales and Mortgage Deals
The commercial property sector also saw notable transactions. Two prime offices in Enara by Omniyat fetched AED75 million ($20.4 million) and AED62.8 million ($17.1 million), respectively. These high-value deals underline the increasing demand for premium office spaces in Dubai, driven by the city’s growing status as a global business destination.
In addition to sales, the Dubai Land Department reported mortgage deals worth AED2.9 billion ($790 million), highlighting the growing reliance on financing solutions to facilitate property acquisitions.
Gift Transactions Add to Market Activity
Gift transactions, a unique feature of Dubai’s real estate sector, contributed AED597 million ($162.5 million) to the week’s total. These transfers often reflect familial and strategic property reallocations, further underscoring the dynamism of the market.
A Booming Luxury Market
The luxury segment continues to dominate Dubai’s off-plan market, with high-rise developments in Business Bay, Downtown Dubai, and Palm Jumeirah leading the way. The city’s appeal to global investors and end-users remains strong, supported by a strategic mix of luxury projects, strong regulations, and investor-friendly policies.
As Dubai’s real estate market closes in on the year’s end, the impressive figures underscore its resilience and ability to attract high-net-worth individuals and institutional investors alike.
