Dubai Real Estate Records $3.8B in Weekly Transactions, Including Business Bay Offices

The Dubai real estate market recorded AED14.04bn ($3.8bn) in transactions last week, according to data from the Dubai Land Department.

Sales accounted for the largest share of activity, reaching AED6.71bn ($1.8bn), based on Land Department figures.

A total of 2,454 sales transactions were registered between September 14 and September 18.

Among the highest-value property sales recorded on the Land Department’s website were several premium office units in Business Bay.

An office at Lumena by Omniyat in Business Bay was sold for AED56.3m ($15.3m).

Another office at Lumena by Omniyat in Business Bay changed hands for AED48m ($13.1m).

An office at Lumena Alta by Omniyat in Business Bay was sold for AED41m ($11.2m).

The Land Department also recorded mortgage transactions worth AED6.2bn ($1.7bn) during the week.
Gift transactions totalled AED1.13bn ($308m) over the same period.