Dubai Real Estate Market Experiences Remarkable Growth: AED 87 Billion in 37 Days
From the beginning of summer on June 1st to the preparation of this report, Dubai’s property market has achieved impressive sales, surpassing AED 87 billion in just 37 working days. This total comes from 27,100 transactions, averaging AED 2.35 billion in sales and 732 transactions per working day.
During this period, the real estate market saw 21,137 residential units sold, with off-plan properties dominating the sales. A total of 13,880 off-plan units were sold, while 7,257 ready units were purchased. Additionally, the market recorded 2,194 building transactions, comprising 1,438 off-plan sales and 756 ready units. Land transactions accounted for 3,781 deals.
Business Bay Emerges as the Top Area for Real Estate Transactions
Business Bay led Dubai’s real estate market in transaction value, reaching AED 5 billion across 2,078 deals. It was followed by Al Wasl, with AED 4.51 billion in sales from 711 transactions, and Dubai Hills in third place, recording AED 4.4 billion through 1,445 deals.
Mortgage activity amounted to AED 24.2 billion, with 6,620 mortgage transactions. Business Bay also took the lead in this category, securing AED 2.95 billion from 302 mortgage actions. The First Trade Center came in second with approximately AED 1.46 billion in 3 actions, while Dubai Marina ranked third with AED 867 million across 500 mortgage transactions.
In terms of gifts, Business Bay again topped the list with a total of AED 960 million from 132 gift transactions. Burj Khalifa followed with AED 543 million in 71 transactions, while Palm Jumeirah secured third place with AED 488 million through 119 gift deals.
In total, Business Bay dominated Dubai’s real estate activity, leading the market with approximately AED 9 billion in sales, mortgages, and gift transactions across 2,512 actions.
Dubai’s real estate market continues to thrive, showcasing remarkable growth and resilience, making it a top destination for investors and homeowners alike.
