Dubai Real Estate: $5.2B Deals and $23M Office Sale Recorded

Dubai’s real estate sector recorded property transactions worth AED 19 billion ($5.2 billion) last week, according to data from the Land Department.

The majority of these transactions came from sales, which reached a total of AED 13.53 billion ($3.7 billion), as per the Land Department’s records. A total of 4,477 sales transactions were registered between February 24 and February 28.

High-Value Property Deals

Some of the most significant property sales recorded last week included:

> An office in Enara by Omniyat, Business Bay, sold for AED 84 million ($23 million).

> An apartment in The Rings, Jumeirah, sold for AED 55.2 million ($15 million).

> Another apartment in The Rings, Jumeirah, sold for AED 54.4 million ($14.8 million).

Mortgage and Gift Transactions

In addition to sales, mortgage transactions during the same period amounted to AED 4.69 billion ($1.3 billion). Furthermore, gift transactions were recorded at AED 799 million ($218 million).