Dubai, UAE: The Dubai Real Estate Market recorded AED15.6 billion ($4.2 billion) in property transactions during the past week, according to data released by the Dubai Land Department. The strong performance highlights continued demand for Dubai’s residential and luxury real estate sector.
Dubai Real Estate Market Sees 2,734 Property Sales
The Dubai Real Estate Market recorded 2,734 property sales between July 6 and July 10. Sales transactions accounted for AED8.73 billion ($2.4 billion), making up the largest share of the week’s activity.
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Palm Jumeirah Leads Luxury Property Sales
Among the biggest deals, an apartment at Orla Infinity by Omniyat in Palm Jumeirah sold for AED75.75 million ($20.6 million). Other major transactions included luxury apartments at Six Senses Residence The Palm and Seapoint Tower 1 in Dubai Harbour.
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Mortgage Activity Remains Strong
The Dubai Land Department also reported AED5.71 billion ($1.5 billion) in mortgage transactions, while gift transactions reached AED1.16 billion ($316 million) during the same period.
Overview
The latest figures show the Dubai Real Estate Market continues to attract strong local and international investment. High-value luxury property sales and steady transaction volumes reinforce Dubai’s position as one of the world’s fastest-growing real estate markets.
