Dubai’s real estate sector reported AED6.28 billion ($1.7 billion) in transactions during the week ending December 9, 2024. This impressive figure comes despite a shorter trading week due to the Eid Al Etihad holidays, underlining the market’s resilience and continued attractiveness to investors.
Sales Transactions Dominate
Sales accounted for the majority of the activity, contributing AED4.89 billion ($1.3 billion), according to the latest data from Dubai’s Land Department. A total of 1,922 sales transactions were recorded during this period, demonstrating the sector’s robust performance even during holiday-shortened weeks.
High-Value Deals
Several high-profile transactions stood out during the week, underscoring the demand for luxury and prime properties in Dubai:
- Bluewaters Residences 9: An apartment in this iconic development was sold for AED84 million ($22.9 million), marking one of the most expensive deals of the week.
- Enara by Omniyat: An office in this exclusive project fetched AED71.64 million ($19.5 million).
- Ela Residences by Omniyat: Another premium apartment changed hands for AED69 million ($18.8 million).
These transactions highlight the appeal of Dubai’s high-end real estate market to investors seeking prime assets.
Additional Transactions
In addition to sales, the Land Department recorded AED1.04 billion ($283 million) in mortgage transactions. These deals reflect the ongoing reliance on financing solutions to secure real estate investments. Gift transactions, a notable segment in Dubai’s real estate landscape, were valued at AED348 million ($95 million) during the same week.
A Resilient Market
Dubai’s real estate sector continues to attract significant investment, driven by its world-class infrastructure, innovative developments, and strategic location. The market’s strong performance amid a shorter trading week highlights its resilience and adaptability.
As the year approaches its close, these figures reaffirm Dubai’s position as a global leader in real estate, offering diverse opportunities for investors and residents alike.
