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THE MILLENNIUM GROUP OF COMPANIES

THE MILLENNIUM GROUP OF COMPANIES

Dubai's Property Market Continues To Boom: 4000 Transactions Recorded In The Past Week Alone

Dubai’s property market had a reputation for being a highly dynamic and rapidly growing market. Over the years, Dubai has built an impressive array of skyscrapers, luxury residential communities, and commercial developments, which have attracted significant investment from both domestic and international investors.

Dubai’s property market remains a key driver of economic growth and development in the UAE, with a diverse range of real estate opportunities available to investors and buyers alike. Here we discuss the most recent information on the Dubai real estate market. Dubai’s real estate market continues to boom: 4000 transactions were recorded in the past week alone.

Dubai's Property Market Continues To Boom: 4000 Transactions Recorded In The Past Week Alone

Over the past week, 3,903 in real estate transactions totaling $2.8 billion were registered by the city land department. Details reveal that 2,906 flats and villas were sold for $1.7 billion, while the remaining 208 were sold for $305 million.

According to the news, 3 pieces of land were sold in Al Jadaf, with the top three transactions, AED 38.5m, AED 38.5m and AED37m respectively.  In addition, there was a villa that was sold in Palm Jumeirah for AED 150 million ($41 million), a flat that was worth AED80 million ($22 million) in Island 2, and another that was sold in Palm Jumeirah for AED 65 million ($17.7 million). All of these transactions were among the most expensive villa and flat transfers.

The mortgaged property for the week was valued at $591 million while the 341 properties granted to the first relatives were  worth $149 million.

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Manahil Tariq
Manahil Tariq

Manahil Tariq, A content writer and copywriter with over 2 years of experience. Throughout her career, she worked with a diverse group of clients from around the world. She also works with real estate firms and marketing agencies. Writing is where her skills and expertise really shine.

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