Billion sales for 23 real estate projects in Dubai, with a total of 62 billion dirhams within 8 months

September 10

The total value of sales of 23 real estate projects in Dubai, which exceeded the one billion dirham barrier, amounted to about 62 billion dirhams, during the period extending from the beginning of 2023 until the end of August, according to data on the website of the “Land Department” in the emirate.

According to Dubai Land Department data, the sales value of these projects is equivalent to 24.8% of the sector’s total sales during 8 months of this year, which recorded 250 billion dirhams, resulting from 84,026 deals.

The “Mohammed Bin Rashid City” project topped the list of sales in terms of value at 11.35 billion dirhams, then “Damac Lagoons” came in second place with 7.65 billion dirhams, followed by “Damac Bay” third with 4.11 billion dirhams, and “Bluewaters Bay” came in fourth place. With a value of 3.44 billion dirhams, while “Damac Hills” ranked fifth with about 3.32 billion dirhams.

In sixth place was the “The Valley” project with a value of 3.3 billion dirhams, then “Sobha Hartland” was seventh with a value of 3.29 billion dirhams, while the eighth place went to the “Sea Point” project with a value of 3.02 billion dirhams, followed by the “Bulgari Lighthouse” project in ninth place with a value of 3.02 billion dirhams. One billion dirhams, and the “Alaya” project ranked tenth with a value of 2.11 billion dirhams.

The last three places

As for the last three positions, they were as follows: “Blue Waters Residences” in 23rd place with about 1.02 billion dirhams, “The S Tower” in 22nd place with a value of 1.06 billion dirhams, and “Nad Al Sheba Gardens 3” in 21st place with about 1.1 billion dirhams. dirhams.

Three real estate projects affiliated with Damac, namely Damac Lagoons, Damac Bay, and Damac Hills, generated sales estimated at approximately 15 billion dirhams.

It is worth noting that the total real estate transactions during 8 months amounted to 350 billion dirhams, resulting from 110,932 transactions, compared to 248.4 billion dirhams, resulting from 75,427 transactions, during the same period in 2022, a growth of 41% and 47% in terms of value and number.

Within 8 months, real estate market sales in the emirate achieved 250 billion dirhams, a growth of 57%, compared to the same period in 2022, which amounted to 159.3 billion dirhams. In terms of the number of transactions, 84,026 sales transactions were recorded, with a growth of 40.6% (59,752 transactions), compared to the same period in 2022.