Dubai’s real estate sector recorded over AED13.36 billion ($3.6 billion) in transactions between September 16 and September 20, according to data from the Dubai Land Department. The figures highlight the continuous strength and growth of the emirate’s property market, with sales accounting for AED10.01 billion ($2.7 billion), marking another week of vibrant activity.
During the week, 4,243 sales transactions were recorded, showcasing the continued demand for both residential and commercial properties in Dubai. The luxury segment dominated the market, with the highest transaction being a AED99 million ($27 million) apartment sale in the prestigious Six Senses Residences at Dubai Marina. Another significant deal included the sale of an apartment in Baccarat Residence in the Burj Khalifa area for AED34.3 million ($9.3 million). Additionally, a property in Como Residences on Palm Jumeirah sold for AED22.6 million ($6.1 million), underlining the growing demand for exclusive waterfront properties in Dubai’s prime locations.
In addition to these sales, mortgage transactions reached AED2.68 billion ($730 million), reflecting the growing confidence of buyers leveraging financing options in Dubai’s real estate market.
Furthermore, the period saw AED670 million ($182 million) worth of gift transactions, a form of property transfer that doesn’t involve a sale.
The Dubai real estate market has consistently demonstrated resilience, driven by the UAE’s favorable business environment, visa reforms, and increasing investor confidence. Luxury properties remain a major draw for international investors, especially from Europe, Russia, and Asia, who are attracted by Dubai’s tax-free environment and high-quality infrastructure. The city’s focus on lifestyle, coupled with year-round sunshine and safety, makes it a top global destination for real estate investment.
“The steady flow of high-value transactions continues to show Dubai’s strong position in the global property market,” noted a Dubai Land Department spokesperson. “We are seeing robust interest across all segments of the market, from affordable housing to ultra-luxury homes.”
With a strong outlook and more large-scale developments on the horizon, experts predict that Dubai’s real estate sector will continue its upward trajectory through 2024 and beyond.
