Dubai Real Estate Records AED13.47bn in Transactions Last Week

Dubai’s real estate market recorded AED13.47bn ($3.67bn) in transactions last week, according to data from the Dubai Land Department.

Sales accounted for the largest share of activity, reaching AED8.59bn ($2.3bn), according to the department’s figures.

A total of 2,676 property sales were registered between October 12 and 16.

Among the highest-value property sales listed on the Dubai Land Department’s website was an apartment at W Residences on Palm Jumeirah, which sold for AED53.7m ($14.6m).

An office at Sensoria at Five Luxe in Marsa Dubai was sold for AED21.8m ($5.9m).

An apartment at Bugatti Residences by Binghatti in Business Bay fetched AED20.9m ($5.7m).

Mortgage transactions totalled AED3.72bn ($1bn) during the same period, according to the Dubai Land Department.

Property gift transactions reached AED1.16bn ($316m) over the week.