Property deals in Dubai reached AED 1.9B on Wednesday, April 26th

On Wednesday, April 26th, the Dubai real estate market saw 451 sales transactions, 82 mortgage deals and 19 gift deals worth AED 1.2B (USD 326.8M), AED 663.03M (USD 180.56M) and AED 36.64M (USD 9.98M) respectively, according to the Dubai Land Department (DLD). The total value of accomplished transactions on this day was AED 1.9B (USD 517,42M), which is higher in comparison to Tuesday, April 25th, when the total value of real estate transactions was AED 1.4B (USD 381.26M).

Sales transactions included 416 apartments and villas with a total cost of AED 819.39M (USD 223.14M), whilst 35 sold plots of land were valued at AED 384.67M (USD 104.76M). Mortgage deals included 66 apartments and villas with a total value of AED 104.31M (USD 28.4M) and 16 plots of land totaling AED 558.73M (USD 152.16M). Week after week the Dubai real estate market continues to show stunning sales numbers. Thus, a plot of land on Jumeirah Bay Island with an area of 24,500 sq. ft was sold on Monday for record-breaking AED 125M (USD 34M).

The high demand in residential properties can be explained by several reasons, including a large selection of residences with various layouts to choose from, the possibility to obtain a 2-year investor visa or a 10-year Golden Visa by investing in properties, as well as endless business opportunities. Among the recently launched off-plan projects in the emirate that have attracted investors and people wishing to move to Dubai are Fashionz by Danube in Jumeirah Village Triangle, Mykonos by DAMAC Properties in DAMAC Lagoons and Seapoint by Emaar Properties in Emaar Beachfront.