Dubai real estate sector recorded $5.2bn of transactions last week, including $23m office

The Dubai real estate sector saw $5.2bn of transactions and 4,477 sales last week

Dubai’s Real Estate Market Records AED19bn in Transactions Last Week

The Dubai real estate market saw a total of AED19 billion ($5.2 billion) in transactions last week, as per data released by the Land Department.

Sales transactions accounted for the majority, reaching AED13.53 billion ($3.7 billion), according to the latest figures from the Land Department.

Between February 24 and February 28, a total of 4,477 sales transactions were recorded across the emirate.

Key Dubai Property Deals This Week

Some of the highest-value property transactions registered with the Land Department include:

• An office in Enara by Omniyat at Business Bay, which was sold for AED84 million ($23 million).
• An apartment in The Rings, Jumeirah, purchased for AED55.2 million ($15 million).
• Another apartment in The Rings, Jumeirah, which changed hands for AED54.4 million ($14.8 million).

Additionally, mortgage transactions during the same period totaled AED4.69 billion ($1.3 billion), while gift transfers were valued at AED799 million ($218 million), as reported by the Land Department.