Dubai Real Estate Market Hits $3.9bn in Weekly Transactions, Two Palm Jumeirah Apartments Sold for Over $20m Each

New figures released revealed that Dubai real estate market had a busy week, with its value of the transactions that took place from July 1 to July 5 exceeding AED14. 3bn ($3. 9bn). Meanwhile figures from the land Department revealed that sales accounted for the major count being AED 9. 47 billion ($ 2. 6 billion) it being the key function.

Key Transactions

Palm Jumeirah Luxury Apartments:

• An apartment in Orla Infinity being developed by Omniyat was transacted at AED77m ($20. 9m).
• A similar flat within the same building was purchased for AED75,800,000 ($20,600,000).

Baccarat Residences:

• An apartment located in the proximity to Burj Khalifa was reportedly bought for AED 43,500,000, that is $ 11,800,000.

Mortgage and Gift Transactions

• Mortgage Deals: With a total of AED3. 87bn ($1. 05bn)
• Gift Transactions: Combined reached AED925m or $252m.

Overview

The total count of the sales transaction noted was 3,168, and it clearly shows there is brisk transactions and interest going on in the Dubai real estate especially on the luxury properties.