Dubai Real Estate Records AED 11.2B in Transactions Last Week

Dubai’s real estate sector recorded AED11.185bn ($3bn) in transactions last week, according to data from the Dubai Land Department.

Sales accounted for the largest share of activity, reaching AED6.41bn ($1.7bn), based on Land Department figures.

A total of 2,426 sales transactions were registered between September 21 and September 25.

Among the highest-value property sales recorded on the Land Department website were three apartments at Como Residences on Palm Jumeirah.

An apartment at Como Residences on Palm Jumeirah was sold for AED71.2m ($19.4m), making it one of the week’s most valuable transactions.

A second apartment at the development changed hands for AED64.9m ($17.7m), while another apartment was sold for AED60.9m ($16.6m).

The Land Department also recorded mortgage transactions worth AED3.86bn ($1bn) during the week.

Gift transactions registered during the same period reached AED915m ($249m).