Dubai Real Estate Sees $6B in Transactions, Including $16M Palm Jumeirah Apartment Sale
Tuesday, 6 May 2025
The Dubai real estate sector recorded AED22.16bn ($6bn) in transactions last week, with notable sales such as a $16M Palm Jumeirah apartment, and a total of 4,490 sales transactions. Dubai continues to lead global markets for luxury home sales.
Highlights:
- Dubai’s real estate sector saw AED22.16bn ($6bn) in transactions last week, with 4,490 sales recorded between April 28 and May 2.
- The majority of the transactions were sales, totaling AED15.47bn ($4.2bn), according to the Dubai Land Department.
- Notable luxury property transactions included:
- An apartment in One at Palm Jumeirah sold for AED60m ($16.3m).
- An apartment in Muraba Veil in Dubai Water Canal fetched AED33.46m ($9.1m).
- An apartment in Six Senses Residences in Palm Jumeirah sold for AED27.5m ($7.5m).
- Additionally, mortgage deals accounted for AED5.12bn ($1.4bn) and gift transactions totaled AED1.57bn ($427m).
- Dubai continues to dominate the global luxury real estate market, with the highest number of $10 million-plus home sales, surpassing cities like London and New York, with 435 such transactions in 2024.
