Real estate transactions in Dubai recorded more than 6.38 billion dirhams by the end of today’s trading, which included sales worth more than 3.39 billion dirhams after executing 1,420 deals.
A monitoring conducted by “Emirates Today” based on indicators from the “Dubai REST” platform affiliated with the Dubai Land Department showed that the total value of real estate mortgages during the day amounted to more than 2.73 billion dirhams, after executing 148 deals.
The total value of real estate grants amounted to about 138.34 million dirhams, after implementing 22 deals.
The recent UBS Global Real Estate Bubble Index 2024 report predicted that Dubai’s real estate market will witness the highest growth among major global cities this year.
The report indicated that Dubai’s ranking rose from 0.14 points in 2023 to 0.64 points this year. The emirate’s ranking in the index also jumped from 23rd place last year to 14th place this year.
The report indicated that this is in light of the continuous rise in real estate prices and rents in Dubai over the past three and a half years, driven by a significant population increase of about 230,000 people since the beginning of last year.
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