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Dubai Luxury Market Breaks Records: $4.2B in Deals Last Week

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Dubaiโ€™s property sector showed strong activity last week, with deals topping AED 15.06 billion ($4.2 billion), as reported by the Dubai Land Department. This number shows Dubaiโ€™s ongoing draw as a global property hotspot.

Sales led the weekโ€™s deals, reaching AED 9.67 billion ($2.6 billion). From August 26 to August 30, 3,436 sales deals were logged, showing the sectorโ€™s busy nature.

$19.1 Million Flat Leads Latest Prime Property Deals

Top sales included pricey flats, with one in BV Residences selling for AED 70 million ($19.1 million). Two flats in Opulent Residences also sold for AED 43 million ($11.7 million) and AED 39.9 million ($10.9 million).

The Land Department also noted big mortgage activity, with deals worth AED 4.01 billion ($1.1 billion) in the same time. Also, gift deals were worth AED 1.38 billion ($376 million) showing varied investment plans in the market.

These numbers back up places as the best Area for property investment in Dubai, thanks to its key location, top-notch infrastructure, and good economic conditions. As the market keeps growing, it stays a key part of Dubaiโ€™s plan for economic growth.

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