Since the beginning of 2024, the Dubai real estate market has witnessed remarkable activity that exceeded expectations, with total transactions recording 155 billion dirhams through 43.98 thousand procedures.
The Business Bay area topped the list of regions in terms of sales volume with a value of 5.76 billion dirhams, supported by its strategic location and proximity to the main business centers in the emirate.
Jumeirah Village Circle came in second place with a value of 4.47 billion dirhams, benefiting from its real estate diversity and the presence of many luxury projects there, while Palm Jumeirah ranked third with a value of 4.38 billion dirhams, supported by its unique beauty and distinctive location.
In terms of residential units, its sales reached the barrier of 62.3 billion dirhams, and the Island 2 area topped the first place in terms of value thanks to the presence of many luxury apartments there, followed by the Dubai Water Canal with a value of 140 million dirhams, and Island 2 again with a value of 137 million dirhams.
In terms of land, the value of sales approached 39.2 billion dirhams, the highest of which was recorded in Dubai Investment Park II at a value of 3.58 billion dirhams, supported by the large demand for land to build new residential and commercial projects.
As for mortgages, they recorded 45 billion dirhams, the highest of which was in the Harrison area with a value of 9.2 billion dirhams, followed by Hasyan II with a value of 3.2 billion dirhams and Nad Al Sheba I with a value of 3.07 billion dirhams.
Finally, donations reached 541 million dirhams, the highest of which was in Dubai Marina with a value of 620.3 million dirhams, followed by Palm Jumeirah with a value of 620 million dirhams and Dubai Hills with a value of 587 million dirhams.
In terms of daily transactions, the total value of transactions amounted to 2.9 billion dirhams, resulting from 1,124 procedures, with sales recording 1.75 billion dirhams through 750 transactions, mortgages amounting to 1.1 billion dirhams, resulting from 331 procedures, and donations reached 81 million dirhams through 43 transactions.
During the month of January 2024, the value of sales of the 10 most prominent areas in the Dubai real estate market achieved about 14.1 billion dirhams, resulting from 4,114 deals, equivalent to about 42 percent of the total.
