A total of 1,600 transactions worth over AED 4.8B (USD 1.3B) were recorded in Dubai last week

As revealed by the Dubai Land Department, during the week ending November 30th 2022, a total of 1,600 property deals worth over AED 4.8B (USD 1.3B) were concluded in the emirate. To be more specific, Dubai witnessed the sale of 176 plots valued at AED 998.19M (USD 272M), in addition to 1,052 villas and apartments for AED 2.32B (USD 632M).

Jebel Ali First registered the highest number of transactions for the week with 81 deals worth AED 285.43M (USD 77.7M). Al Hebiah Fifth and Al Yufrah 2 followed the lead with 50 and 6 sales respectively.

The top 3 apartment and villa transactions were an apartment sold for AED 38M (USD 10.3M) in Jumeirah Second, a unit for AED 37M (USD 10M) in Palm Jumeirah and a third property sold for AED 35M (USD 9.5M) in Al Barsha First.

At the same time, the amount of mortgaged real estate for the week stood at AED 1.37B (USD 373M).

Other exciting news in Dubai’s real estate sector is the opening of the world’s first SIRO hotel by Kerzner International Holdings in late 2023. Kerzner is the owner of the Atlantis Resort and Residences and One & Only Resorts brands worldwide. The upcoming development will be called SIRO One Za’abeel and will be located in the lavish One Za’abeel complex. The hotel will be focused on mental health, physical fitness, nutrition and sleep, with room rates starting at AED 1,500 – 1,800 (USD 400 – 500) per night.

Guests of SIRO One Za’abeel will be treated to full access to a 10,750+ sq. ft gym, studio workout classes and plenty more. The wellness-oriented hotel will offer guests the opportunity to hire nutritionists and trainers, among other specialists. Not forgetting the comprehensive all-important recovery programme, which will encompass acupuncture, meditation, cryotherapy, physiotherapy, assisted stretching and other offerings.