- Hadaeq Sheikh Mohammed Bin Rashid for AED 125M (USD 34M);
- Al Barsha South Fourth for AED 73.5M (USD 20M);
- Palm Jumeirah for AED 70M (USD 19M).
The total amount of mortgaged properties last week amounted to AED 1.4B (USD 381M), including a plot on Palm Jumeirah worth AED 150M (USD 40.8B). The Dubai Land Department reported 156 real estate transfers between first degree relatives worth AED 738M (USD 201M).
The high demand for real estate in Dubai indicates the activity of the market and the interest of investors in residential properties. In Q4 2023, the demand of real estate in the emirate exceeds the supply that developers can currently deliver. Experts predict a potential increase in housing and rental prices in the coming months due to this, but this will not lead to a decrease in demand. In 2024, the growth of real estate prices should stabilise thanks to the implementation of large projects.