This underlines the attractiveness of the city for local and international investors, above all in the high-end segment.
Sales contributed the largest chunk of AED11.67 billion ($3.2 billion) to the total volume. Overall, it was a flattering week for the sector as 4,645 sales transactions were closed on or before October 11, stemming between October 7 and October 11.
Highlight Sales of the Week
Among some of the most high-profile transactions, happening in Dubai’s luxury property market, are:
- It lists an apartment in Nakheel Como Residences At Palm Jumeirah , which sold for AED 53.6 million ($14.6 million).
- An apartment in Eden House, The Canal fetched AED 33.7 million ($9.2 million).
- A further unit in Eden House, The Canal went for AED 30.1 million ($8.4 million).
Besides property sales, the total value of mortgage deals reached AED2.67 billion ($727 million) this week, while gift transactions reached AED1.12 billion ($305 million). This surge in ultra-luxury transactions, particularly in some very iconic areas like Palm Jumeirah and Business Bay , goes to further cementing Dubai’s position among the global luxury property powerhouses. This, therefore, would mean that the growth of high-rise developments and exclusive residences will continue to barge the emirate’s property sector for the upcoming months.
