Real estate sales in Dubai have experienced a remarkable 25% year-on-year growth since the beginning of this year until yesterday (Tuesday), Invest-Gate reports.
Within 100 days, real estate sales in the Emirate of Dubai reached approximately AED 150 bn through 51,913 deals, compared to AED 120 bn in 2023 from 41,304 deals.
This value represents about 37.5 percent of the total sales recorded in 2023, which exceeded AED 400 bn according to data from the Dubai Land Department. The numbers recorded thus far in 2024 have surpassed the historic figures of 2023.
The sales deals were distributed across 5,332 plots of land, 42,827 residential units, and 3,754 buildings. Business Bay area took the lead in terms of sales value, reaching AED 7.8 bn from 3,696 deals, followed by Jumeirah Village Circle area with 6,125 deals worth AED 6.8 bn.
Palm Jumeirah area secured the third spot with 574 deals worth AED 6.5 bn, while the Burj Khalifa area ranked fourth with 1,524 deals worth AED 5.9 bn, and Zabeel First area came in fifth with 1,596 deals worth AED 5.12 bn.
Overall transactions in the Dubai real estate market recorded AED 228.5 bn, stemming from 64,800 transactions, with sales accounting for AED 150.6 bn, mortgages amounting to AED 64.9 bn, and gifts exceeding AED 13 bn.
