Dubai Real Estate market showed aed 2b in property deals on may 16th

On Tuesday, May 16th, the real estate market of Dubai witnessed property deals worth over AED 2B (USD 545M), which shows the continuous popularity of properties in the emirate. Thus, 512 sales transactions worth AED 1.39B (USD 379M), as well as 98 mortgage deals and 23 gift deals for a grand total of AED 562.97M (USD 153M) and AED 59.9M (USD 16.3M), respectively, took place in Dubai, according to data from DLD (Dubai Land Department).

This past Tuesday, 463 villas and apartments worth AED 1.1B (USD 294M), as well as 49 plots of land totalling AED 315.6M (USD 85.9M) were sold. In terms of mortgages, the market saw 80 apartment and villa transactions with a total value of AED 185.5M (USD 50.5M) and 18 plots of land transactions worth AED 377.5 (USD 102.8M).

The Dubai real estate market witnessed 8,077 real estate transactions in April 2023. This number is 17% higher in comparison to the same period last year when the number reached 6,898. The whole sum of transactions made in April 2023 is AED 26.4B (USD 7.2B), which is 46% higher than in April 2022, according to the statistics from Property Finder. April 2023 showed the highest numbers in transaction volume and value in the past decade.

If you are interested in making a profitable investment or wish to move to Dubai, keep an eye on the recently launched projects which include Me Do Re by Me Do Re Properties DMCC in Jumeirah Lakes Towers, Design Quarter at d3 in Dubai Design District by Meraas and Seapoint in Emaar Beachfront by Emaar Properties.

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