Dubai property transactions reach Rs1.45tr in a week

DUBAI : Dubai’s property market saw AED 19 billion (almost Rs1.45 trillion) worth of transactions last week, the Dubai Land Department reported, spanning 5,375 deals across the emirate.

Of the total, 4,034 sales were valued at AED 11.8 billion (Rs901.7 billion), 910 mortgage deals totalled AED 4.4 billion (Rs336.6 billion), and 215 gift transactions amounted to AED 2.7 billion (Rs206.6 billion).

Weekly sales included 345 land deals, 3,477 residential unit sales, and 212 building sales, while mortgages comprised 222 on land, 853 on residential units, and 135 on buildings.

Ready properties generated AED 6.6 billion (Rs504.9 billion) from 1,450 transactions, while off-plan sales reached AED 5.1 billion (Rs389.2 billion) across 2,584 deals.

The top areas by sales value were:

Business Bay (AED 859 million ≈ Rs65.6 billion) – Dubai’s commercial and residential hub near Downtown Dubai, home to Burj Khalifa and luxury hotels.

Jumeirah Village Circle (AED 583 million ≈ Rs44.6 billion) – A residential community in the heart of Dubai, popular for villas and apartments.

Al Nahda First (AED 426 million ≈ Rs32.6 billion) – A mixed-use area near the Dubai–Sharjah border, housing affordable residential and commercial spaces.

Burj Khalifa district (AED 422 million ≈ Rs32.3 billion) – Downtown Dubai, the city’s most iconic area with skyscrapers, luxury apartments, and landmarks.

Falcon City of Wonders (AED 386 million ≈ Rs29.5 billion) – A themed residential development with replicas of global landmarks, situated inland from Dubai’s main city areas.

High-value transactions included a residential land plot in Falcon City of Wonders for AED 364 million (Rs27.8 billion), a land parcel in Umm Al Daman for AED 275 million (Rs21 billion), and an off-plan apartment in Jumeirah Second for AED 71 million (Rs5.4 billion).