Dubai real estate sector recorded new historic highs in sales during the current month of May, marking the highest ever monthly sales value at AED 66.9 billion (USD 18.22 billion). This came from a total of 18,654 real estate transactions across various property types, surpassing the previous record set in April, which saw sales of AED 61.76 billion (USD 16.81 billion) from 17,178 transactions.
Main Takeaways:
- Record May Sales: AED 66.9B (USD 18.22B) in May — highest monthly real estate sales ever.
- 5-Month Total: AED 271.78B (USD 74.04B) in sales from 81,910 transactions (Jan–May).
- Mortgages: AED 70.54B (USD 19.20B) in mortgage transactions over five months.
- Gifts: AED 17.72B (USD 4.83B) in real estate gift transactions (Jan–May).
A survey conducted by Emarat Al Youm, based on data from the Dubai Land Department, revealed that the first five months of the current year (January to May) recorded total real estate sales worth AED 271.78 billion (USD 74.04 billion), through a total of 81,910 transactions.
The survey showed that in May alone, transactions included the sale of 14,432 residential units, 947 buildings, and 3,275 plots of land. Additionally, the total value of mortgage transactions during May reached AED 14.32 billion (USD 3.90 billion), covering 2,812 residential units, 503 buildings, and 1,040 plots of land.
The value of real estate gift transactions in May reached AED 4.02 billion (USD 1.09 billion), covering 724 residential units, 66 buildings, and 142 plots of land.
The survey also indicated that the total value of real estate sales from the beginning of the year until the end of May reached AED 271.78 billion (USD 74.04 billion), including the sale of 62,630 residential units, 6,375 buildings, and 12,905 plots of land.
It further showed that the value of mortgage transactions during the first five months of the year amounted to AED 70.54 billion (USD 19.20 billion), covering 12,963 residential units, 2,224 buildings, and 4,617 plots of land.
Real estate gift transactions from the beginning of the year until the end of yesterday’s trading amounted to AED 17.72 billion (USD 4.83 billion), with transactions including 2,958 residential units, 265 buildings, and 638 plots of land.
On the daily transaction level, the total value of real estate dealings recorded yesterday alone reached AED 3.71 billion (USD 1.01 billion), including AED 2.50 billion (USD 0.68 billion) in sales. Mortgage transactions were valued at AED 1.05 billion (USD 0.29 billion), while real estate gifts amounted to AED 151.59 million (USD 41.27 million).
The data revealed that several areas and real estate communities in Dubai witnessed strong demand in property sales during the first four months of this year, most notably Emaar South and Jumeirah Lakes Towers (JLT).
In comments to Emarat Al Youm, two real estate experts stated that Dubai real estate has continued to achieve record-breaking sales transactions, overcoming fluctuations and changes in the global economy and markets. This resilience is driven by the appeal of new developments and the diversity of the real estate market, which continues to attract more investors from around the world.
Real estate expert Sufian Al-Salamat said, “ Dubai Real estate sales continue to set new record indicators, surpassing all previous sales benchmarks. This is supported by the sector’s strength in continuously attracting new investors and overcoming global economic shifts and market fluctuations. Investors from various nationalities maintain high confidence in investing in Dubai real estate sector, particularly given the wide range of available projects and the attractiveness of newly launched developments.”
Real estate expert Raad Ramadan stated that “the continued growth of Dubai real estate sector, with new record-breaking sales figures, is driven by the ongoing momentum and diversity seen in the market through the launch of new projects. These projects enhance variety and meet the diverse needs of investors. Additionally, the increasing returns from the real estate sector in Dubai, compared to many cities around the world, make it an attractive destination for a growing number of investors from various nationalities.”
