Dubai's real estate market witnesses major transactions with high-value sales
Date
8/26/2024 7:27:26 AM
(MENAFN) On Monday, Dubai's Real estate market witnessed notable transactions, including the sale of a high-value residential apartment in the Jumeirah Bay area. The apartment, part of the prestigious "BV Residences" project, was sold for 70 million dirhams. This luxurious four-bedroom unit spans 9,172 square feet, equating to approximately 7,631 dirhams per square foot. The transaction highlights the continued appeal of high-end residential properties in Dubai’s competitive real estate market.
Additionally, a significant commercial real estate transaction occurred today with the sale of a plot of land in the Second Commercial Center area for 440 million dirhams. This plot covers 10,000 square feet, with a price of 44,000 dirhams per square foot. Such high-value deals underscore the strong demand for prime commercial real estate in Dubai, reflecting investor confidence in the city's property sector.
The momentum in Dubai's real estate market continued briskly at the start of the week, with a notable surge in activity. In less than an hour after the market opened, there were 496 transactions totaling 1.73 billion dirhams. This robust trading volume illustrates the ongoing vibrancy and attractiveness of Dubai's real estate market to investors and buyers alike.
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