Dubai’s real estate market has achieved a historic feat in July, boasting 17,000 sales transactions totaling AED 55.5 bn, Invest-Gate reports.

Notably, ten key areas contributed to approximately 51% of the overall sales volume, with notable regions such as Al Barsha South Fourth, Business Bay, Marsa Dubai, Jebel Ali First, Wadi Al Safa, and Al Thayah Fifth leading the charge.

Property Finder reported that Dubai’s existing market reached an all-time high in July, registering a staggering 8,400 transactions valued at AED 36 bn, marking a remarkable 23% surge beyond the previous peak set in June 2024.

The off-plan sales sector witnessed a remarkable 77% year-on-year surge, with 9,300 transactions. Recent real estate activities in Dubai amassed AED 2.7 bn through 1,224 transactions.

Among these transactions, 1,012 sales were recorded, totaling AED 2.15 bn, encompassing 78 land sales, 848 residential unit sales, and 86 building sales.

Airport City emerged as the top-selling area in terms of value, generating AED 437 mn through 102 transactions, followed by Meydan One with AED 113 mn from 65 transactions, Nad Al Sheba 1 with AED 94 mn from 7 transactions, and Dubai Studio City with 132 transactions amounting to AED 79 mn.

Furthermore, mortgages accounted for approximately AED 456 mn from 174 transactions, with 40 mortgages pertaining to lands, 108 to residential units, and 26 to buildings.

The market also witnessed the registration of 38 donations valued at AED 97 mn.