The Dubai Land Department in the United Arab Emirates revealed that real estate transactions in the emirate's market last week amounted to about 11.5 billion dirhams, equivalent to 3.13 billion dollars.

The Land Department said in a statement that Dubai witnessed 3,677 sales worth AED 8.36 billion, including 192 sales of land worth AED 2.61 billion and 2,699 sales of apartments and villas worth AED 5.75 billion.

Dubai Land Department said in a statement.

4 regions top the number of sales

The Hind City area topped 4 areas in terms of the number of sales, recording 51 sales worth AED 118.15 million. In terms of the most important sales of apartments and villas. A sale worth AED 182 million in Al Mamzar came as the most important sale. <The most important land sales, worth AED 614.96 million, came in the Dubai Maritime City area, according to the Emirate's Land Department. This was followed by a sale worth AED 146 million in Al Markad area and AED 141.34 million in the Dubai Maritime City area.

The most important land sales came with a value of AED 614.96 million in the Dubai Maritime City area.

Exceptional year for Dubai's real estate market in 2023

Dubai's real estate market experienced an exceptional year in 2023, characterized by many positive factors that led to rising prices and demand for real estate. The size of Dubai's real estate market reached AED 554.7 billion in 2023, up 5% from 2022.

Dubai's real estate market reached AED 554.7 billion in 2023, up 5% from 2022.

This value was distributed as follows: Real estate sales worth AED 401.2 billion. Mortgages worth AED 121 billion. In addition to endowments worth AED 32.65 billion. While these figures are considered a record in the history of Dubai's real estate market.