Dubai, UAE – The real estate market in Dubai began trading the week with clear activity on Monday, with strong movements recorded in the sector. This reflects investor confidence and continued momentum in the market, amid positive investment trends.
Total real estate transactions amounted to approximately AED 2.36 billion, through the implementation of 1,142 transactions, including sales of more than AED 1.83 billion. After executing 924 transactions.
Dubai real estate sales on Monday were distributed as follows: 819 sales of residential units, 49 sales of buildings, and 56 sales of land.
Sales of ready-made properties amounted to about 705.27 million dirhams, through the implementation of 215 deals, distributed as follows: 148 sales of residential units. 11 building sales and 56 land sales, while real estate sales on the map amounted to about 1.1 billion dirhams. Through 709 deals, divided into 671 sales of residential units and 38 sales of buildings.
Real estate mortgages recorded 170 transactions, worth 336.33 million dirhams, distributed as follows: 110 transactions for residential units, 25 transactions for buildings, and 35 transactions for land. The value of the donations amounted to approximately 202.48 million dirhams, with 48 transactions distributed across 33 residential unit transactions, two building transactions, and 13 land transactions.
Thus, real estate sales accounted for 77.2% of the total value of transactions recorded on Monday. While mortgages accounted for about 14.23%, and gifts accounted for about 8.57%.
Standard Sale
In addition, Dubai witnessed the implementation of a deal to sell about 40,000 feet of office space worth 124 million dirhams in the Vision Tower in the Business Bay area. This confirms the continued demand for assets from the emirate’s main commercial regions.
This deal represents a connected first-class office building (Grade A) spread over several floors in one of the most prominent towers in Business Bay. It was acquired by a UAE-based company as part of its plans to expand its business.
Pham Properties confirmed that the deal is the largest commercial real estate deal of its kind ever recorded in the Emirate of Dubai. This reflects the continued confidence of local companies in the commercial real estate market in Dubai. Investors and tenants continue to focus on established commercial areas and institutional quality assets.
