Commercial real estate sales (including offices and shops) in Dubai have soared by 46.3% in the first 11 months of this year compared to the same period last year, Invest-Gate reports.

As per data from the Dubai Land Department, the emirate witnessed property sales reaching AED6 bn through 3,554 transactions between January and February 2023. This marks a significant increase from sales valued at AED4.1 bn through 2,776 transactions during the same period in 2022.

The commercial real estate sales in Dubai during the current year’s January to February period totaled EGP6 bn. Office sales amounted to AED4.2 bn through 2,504 deals, while shop sales reached AED1.8 bn through 1,050 transactions.

Moreover, prepared office spaces dominated the sales, capturing the lion’s share at AED4.14bn through 2,390 transactions. Meanwhile, off-plan office sales amounted to AED68.8 mn across 114 deals.

Furthermore, ready shop spaces accounted for sales worth AED848 mn through 598 transactions, while off-plan shop sales reached AED978 mn through 452 deals.

In the commercial office segment, the Gulf Commercial Area led the sales with AED1.8 across 1,170 transactions, followed by the Jumeirah Lake Towers Area with AED1.08 bn from 789 deals.

Notably, Burj Khalifa Area secured the third spot with 33 transactions worth AED514 mn, followed by The Springs Area with 125 transactions totaling AED176 mn.