Dubai Real Estate Records $5.72bn in Weekly Transactions as Market Momentum Holds

Dubai’s real estate market recorded total transactions valued at AED 21 billion ($5.72 billion) during the week ending October 25, 2024. Data released by the Dubai Land Department (DLD) confirms a sustained momentum in the emirate’s property sector, driven by high volumes in both the residential and commercial segments. Transaction Volume and Segment Breakdown The weekly performance was spearheaded by sales transactions, which reached AED 14.2 billion. Mortgage deals contributed AED 5.1 billion to the total, while gift transactions were valued at approximately AED 1.7 billion. A total of 4,778 transactions were processed throughout the week, reflecting consistent activity in the secondary market and robust interest in new off-plan launches. Among the most active areas, Wadi Al Safa 5, Palm Jumeirah, and Business Bay recorded the highest transaction values. Apartment sales dominated the volume of individual units sold, while land sales provided the largest contribution to the overall financial value of the weekly total. This follows a month of high-value deals in luxury residential zones, where price per square foot continues to show upward pressure. Market Drivers and Investor…