The value of property transactions in Dubai jumped by 20 percent this week compared to the previous seven days as investors continued to cash in on the UAE’s sought-after market.
What is interesting is the different kind of locations which propped up this week compared to the usual hotspots of Palm Jumeirah and adjoining areas.
During the week ending May 27, around 8.7 billion dirhams ($2.36 billion) in deals were recorded, up from 7.2 billion dirhams a week ago, data from the Dubai Land Department showed. Thursday alone (May 26) saw a 2.1bn sales volume itself.
Details of couple of big-ticket value villa sales emerged with Dubai Hills registering its costliest villa sale for this year. The seven-bedroom mansion found a buyer for Dh128 million and spans a built-up area of 34,113 square feet. Located in what is called the ‘Street of Dreams’, the Dubai Hills Grove has only 26 homes and all valued at Dh100 million and over.
District One, one node of the expansive MBR City which is languishing a bit, also got its highest value transaction when a Russian buyer picked a villa worth $89.1m.

The MBR City with Meydan One mall has been proposed as a massive development project. A villa there has now been sold for Dh89.1m
This week’s deals include 297 plots that were snapped up for 1.59 billion dirhams, as well as 2,116 apartments and villas with a combined value of 4.75 billion dirhams.
The total value of mortgaged properties for the week stood at 2.02 billion dirhams, with the highest being a land in Al Hebiah Third that was mortgaged for 211 million dirhams.
Dubai’s property prices have been rising over the past several months on the back of growing demand. Sales prices for villas surged an average of 40 percent in the first quarter of the year, according to Asteco.