In Dubai, the volume of real estate transactions per week amounts to 15.9 billion AED

Major Deals and Sales Growth

This week, Dubai’s real estate market registered transactions totaling more than 15.9 billion AED ($4.3 billion), which is $500 million more compared to the previous week, when 15.45 billion AED was recorded. According to the Land Department, the main contribution to this growth came from sales, which amounted to 10.15 billion AED ($2.76 billion).

Total Volume of Transactions

Over the past week, 4,239 sale transactions were registered. Among the most significant deals recorded on the Land Department’s website were:

– An apartment in ORLA by Omniyat, Palm Jumeirah, sold for 49,422,470 AED ($13.5 million)
– An apartment in Vela by Omniyat, Business Bay, sold for 44,423,150 AED ($12.1 million)
– An apartment in BV Residences, Jumeirah Bay, sold for 38.5 million AED ($10.5 million)

Mortgage Deals

The Land Department also reported mortgage deals amounting to 4.36 billion AED ($1.2 billion) for the period from May 27 to May 31.

Reasons for Investing in Dubai Real Estate

Dubai attracts investors due to the steady growth of its real estate market and high rental yields. The city offers modern infrastructure projects and the absence of personal income tax, making it even more appealing to foreign investors. Additionally, purchasing property in Dubai often comes with the opportunity to obtain a residency permit in the UAE.