Total transactions in Dubai real estate market from the beginning of 2024 until the end of June amounted to AED 344.4 billion, comprising 101,920 transactions, marking a 35% growth in both value and volume compared to the same period last year, according to Dubai Land Department data.

During the first half of the year, the sector achieved AED 233.2 billion in sales through 80,230 transactions, reflecting increases of 30% and 32.8% in value and volume, respectively.

The “Business Bay” area led in sales volume with AED 14 billion from 5,727 transactions, followed by “Jumeirah Village Circle” with AED 9.53 billion from 8,309 transactions, and “Palm Jumeirah” with AED 9 billion from 855 transactions.

Regarding unit distribution, residential properties accounted for 65,250 sales, including 22,250 transactions for ready apartments, 6,295 for buildings/villas, and 8,693 for lands.

Mortgages totaled AED 90.4 billion from 17,800 transactions, predominantly in the “Horizon” area with AED 9.2 billion, followed by “Palm Jumeirah” with AED 5.2 billion, and “Business Bay” with AED 4.7 billion.

Gift transfers amounted to AED 21 billion from 3,890 transactions, with most occurring in “Palm Jumeirah” at AED 3 billion, followed by “Business Bay” at AED 1.87 billion.

In the second quarter of 2024 alone, transactions reached AED 179 billion from 54,850 operations, showing growth of 7.4% and 20% in value and volume, respectively, compared to the first quarter’s AED 166.7 billion from 45,590 transactions.

In June, transactions amounted to AED 60.8 billion from 17,760 operations, with sales valued at AED 44.9 billion, mortgages at AED 12 billion, and gifts at AED 3.91 billion.

Dubai real estate market has shown significant improvement post-COVID-19, with total transactions over the past three years reaching AED 1.46 trillion from 373,648 operations.