Dubai’s Private Housing Sector Surges with Record Sale and Mortgage Numbers

The Dubai real estate market has recorded a significant sale in the private housing sector. A residential apartment located on the Dubai Water Canal was sold for 72 million dirhams, with an area of about 8,219 square feet. Data from “Dubai Rest” indicates that total sales in the sector reached 1.62 billion dirhams from 672 deals, with the highest volume of sales in Palm Jumeirah at 157 million dirhams, followed by Wadi Al Safa 3 with about 120 million dirhams, and Sheikh Mohammed bin Rashid Gardens with a value of 108.5 million dirhams. Mortgages in the sector reached a record high of 313 million dirhams through 150 procedures.