AED 26.9 billion Dubai real estate transactions in two weeks

A survey conducted by “Emirates Today”, based on data from the Dubai Land and Property Department, showed that real estate transactions in the emirate recorded about 26.9 billion dirhams since the beginning of September until now (within two weeks), including sales worth 17.8 billion dirhams after executing 6964 deals, including 5799 residential units, 527 buildings, and 638 plots of land.

According to the data, the total value of real estate mortgages during the monitoring period amounted to about 7.01 billion dirhams, after implementing 1,563 transactions, while the value of real estate grants amounted to about 2.09 billion dirhams, after implementing 322 transactions.

In this regard, Walid Al Zarouni, Chairman of W Capital Real Estate Brokerage, said that real estate sales in Dubai maintain high levels, supported by the continued favorable conditions within the local market, and the arrival of more investors to the emirate to work and live in it.

Al Zarouni stressed that there is a great demand for all real estate categories, most notably luxury residential units, whether for ownership or rent, which encourages developers to launch new projects.

He pointed out that real estate prices in Dubai are still lower than their counterparts in the highest-rated global markets, whether in London or New York, expecting real estate sales in the emirate to achieve a new record on a monthly basis by the end of trading this September.

For her part, Asmaa Mowafqi, Director of Public Relations for Sales at Peace Home Real Estate Development Company, said that the real estate market in Dubai is on a strong upward path, especially during the last four years, amid strong signs of continued sustainable growth, noting that the future of the market is very promising.

She added that Dubai has unique advantages that make it an attractive destination for investors, thanks to its economic stability and advanced infrastructure, noting that according to current indicators, demand for luxury real estate in Dubai will remain strong, creating new opportunities for developers and investors.

She expected the Dubai real estate market to continue to expand and grow, especially with the continued flow of international investments and the development of major projects, which will enhance the emirate’s position as a major center for real estate opportunities in the region. She also expected that this September would achieve a record number of real estate sales on a monthly basis.