Dubai's real estate market recorded AED 14.3 billion ($3.9 billion) in total transactions during the week of July 1–5, 2024, according to figures from the Dubai Land Department (DLD). The data confirms sustained demand for high-value properties, particularly in the luxury segment, with sales accounting for the largest share at AED 9.47 billion ($2.6 billion).
Key Luxury Transactions That Defined the Week
The headline deals came from Palm Jumeirah, where two apartments at Orla Infinity — a premium development by Omniyat — changed hands at record-setting prices.
- An apartment at Orla Infinity sold for AED 77 million ($20.9 million). - A second unit in the same building transacted at AED 75.8 million ($20.6 million).
Both sales underscore Palm Jumeirah's continued appeal as the address of choice for ultra-high-net-worth buyers in Dubai's luxury property market.
Baccarat Residences: Burj Khalifa Neighbour Commands $11.8m
Near the Burj Khalifa, Baccarat Residences registered another significant transaction:
- An apartment in the branded residential tower sold for AED 43.5 million ($11.8 million).
The branded residences segment — where international luxury names attach to residential towers — remains one of the fastest-growing categories in Dubai real estate.
Mortgage and Gift Transactions
Beyond outright sales, the DLD figures captured two further categories of activity for the July 1–5 period:
- Mortgage transactions: AED 3.87 billion ($1.05 billion) - Gift transactions: AED 925 million ($252 million)
The combined total of all categories — sales, mortgages, and gifts — reached AED 14.3 billion ($3.9 billion).
Market Overview: 3,168 Sales in a Single Week
The week logged 3,168 individual sales transactions, reflecting strong and broad-based activity across Dubai's property market. The volume is not concentrated solely in trophy deals; mid-market and off-plan segments also contributed meaningfully to overall figures.
Dubai's real estate market has consistently recorded elevated transaction volumes through 2024, driven by population growth, continued inbound investment from Europe, Asia, and the wider Gulf region, and a durable pipeline of new-project launches by developers including Omniyat, Emaar, and Nakheel.
