The Dubai real estate market witnessed a significant transaction on Thursday, with a residential plot in Barsha Heights resold for Dhs600 million. This sale, which covers an area of 74,350 square feet, reflects an average price of Dhs8,070 per square foot, according to data from the Dubai REST app.
Overall, the emirate’s real estate transactions for the day totaled Dhs3.15 billion across 722 deals. Notably, sales accounted for Dhs2.04 billion from 495 transactions, with Barsha Heights leading the pack. Other significant sales included Dhs141 million in Al Yafra 1 and Dhs135 million in Dubai Islands.
In addition to sales, mortgage transactions reached over Dhs785 million across 201 deals. The largest mortgage recorded was in Emirates Hills at Dhs163 million, followed by Dhs70 million in Jebel Ali Industrial 1 and Dhs60 million in Palm Jumeirah. Gift transactions also contributed to the market, totaling Dhs316 million across 26 deals, with the highest being Dhs136.5 million in Palm Jebel Ali.
This robust activity in the Dubai real estate sector underscores the ongoing demand for property in the emirate, reflecting both investor confidence and the attractiveness of the market. As the landscape continues to evolve, such high-value transactions may signal a trend towards increased investment in premium residential areas.
For further details on the transaction and market trends, refer to Gulf Today.
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