Dubai Weekly Property Deals Hit AED 12.43 Billion as AED 85 Million Palm Flat Tops Sales

Sales made up AED 8.04 billion of that total across 2,433 transactions, or roughly AED 3.3 million per deal on average. Mortgages added AED 2.89 billion and gift transfers AED 1.5 billion, the report said. Together, the three categories account for the full weekly figure.

The largest single sale of the week was an apartment at Como Residences on Palm Jumeirah, which went for AED 85 million, about $23 million. Land Department open data republished by property portal Propsearch shows the AED 85 million sale on November 12, recorded as a pre-registration transaction. That category covers units sold off-plan, before the building is completed.

The weekly total is in line with other strong weeks this year. Emirates 24|7 reported AED 12 billion in transactions from 3,657 deals in a week in late August, including 2,564 sales worth AED 7.2 billion. Last week's sales count was lower than that, but the combined sales value was higher: AED 8.04 billion against AED 7.2 billion, which points to larger average ticket sizes. In July, the Dubai Media Office cited Land Department figures showing more than AED 15 billion in transactions in a single week.

The mortgage figure is worth watching on its own. The AED 2.89 billion recorded last week means borrowing accounted for close to a quarter of all transaction value. That mix indicates how much buying in the emirate is financed with debt and how much is paid in cash.

The Land Department does not publish the identities of buyers or sellers, or unit numbers, with its transaction data. The next weekly figures will cover November 16 to 20.