Dubai, UAE — Dubai’s real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai Land Department.
The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million, and 36 gift deals amounting to AED98.44 million.
The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.
The mortgages included 101 villas and apartments worth AED220.85 million and 24 land plots valued at AED392.87 million.
Dubai’s real estate market has recorded its highest semi-annual sales figures ever, with 61,000 deals worth AED 179.34 billion ($47.8 billion) taking place in the first half of 2023, according to W Capital Real Estate Brokerage.
CEO of W Capital, Al Zarooni, said the growth rate in terms of sales value amounted to 57 percent on an annual basis during the first six months of 2023, compared to AED 114.5 billion in the previous year, and in terms of the number of deals by about 42 percent, compared to 42,971 deals last year.
“During June 2023, a total of 10,405 real estate sales deals with total value of AED 30.3 billion, which is the highest number ever for the month of June, exceeding the historical number recorded in 2009 with a value of AED 22.92 billion.
He said that the strong demand for real estate in Dubai is expected to continue in the second half of the year, and that the market could see record sales for the full year.