Dubai Real Estate Market Soars: AED 122 Million Sale in Palm Jumeirah Leads the Week’s Transactions
Dubai’s real estate market commenced the week with a significant surge in activity, marked by an extraordinary transaction in the prestigious Palm Jumeirah area. According to data from the Dubai Land Department, an off-plan apartment in the “Six Senses Residences” project was sold for an astounding AED 122 million.
Record-Breaking Sale in Palm Jumeirah
The high-profile sale of the Six Senses Residences apartment, spanning an impressive 26,500 square feet, equates to approximately AED 4,601 per square foot. This transaction not only highlights the continued demand for luxury properties in Dubai but also sets a new benchmark for the city’s real estate market.
Surge in Transactions and Market Activity
The remarkable sale was part of a bustling start to the week, with a total of 779 transactions recorded in just the first two hours of trading. These transactions, amounting to an impressive AED 1.39 billion, underscore the robust health and dynamic nature of Dubai’s real estate sector.
Dubai’s Real Estate Resilience
The impressive figures reflect the resilience and attractiveness of Dubai’s real estate market, which continues to draw significant investments from both local and international buyers. The market’s strong performance is a testament to Dubai’s strategic appeal, offering investors a combination of high returns and a stable investment environment.
Source: Albayan Newspaper