Dubai property market sees Dhs1.04 billion in sales in half a day

Dubai’s real estate sector continued its strong performance on Friday, recording a series of high-value land and commercial property transactions worth hundreds of millions of dirhams, according to data published by the Dubai REST app.

Among the most notable deals were the sale and mortgage of five plots of land in the areas of Umm Suqeim 1, Saih Shuaib 3 and Dubai Maritime City, with a combined value of approximately Dhs517 million.

The largest transactions were recorded in Umm Suqeim 1, where three residential land plots with a total area of about 70,000 square feet changed hands for Dhs406.5 million. The deals reflected strong demand for prime residential land, with an average price of around Dhs17,400 per square metre.

In Saih Shuaib 3, a land plot covering nearly 370,000 square feet was sold for approximately Dhs110.4 million. The transaction translated into an average price of Dhs298.5 per square foot, highlighting continued investor interest in large-scale development opportunities in emerging areas of Dubai.

Meanwhile, a land plot in Dubai Maritime City was mortgaged for Dhs150 million. The plot spans around 41,600 square feet and was valued at an average of Dhs3,604 per square foot.

The commercial property segment also recorded a significant transaction in Business Bay, where an office unit in the Enara by Omniyat development was sold for Dhs61.5 million. The office covers 8,886 square feet, with an average sale price of Dhs6,912 per square foot.

Overall, Dubai’s property market generated Dhs1.04 billion in sales from 468 transactions by mid-Friday. Mortgages totalled Dhs285 million across 61 transactions, while gifts reached Dhs26 million through 14 transactions.