Dubai Weekly Real Estate News 18/02/23

Dubai real estate market recorded 384 sales transactions worth AED966.26 million, in addition to 78 mortgage deals of AED548.97 million, and 48 gift deals amounting to AED186.61 million on Wednesday, data released by Dubai’s Land Department (DLD) showed.

The sales included 350 villas and apartments worth AED805.39 million, and 34 land plots worth AED160.87 million.

Now, let’s take a look at some of the property news that caught our attention last week. I’ve included the summary of each article below.

Property News This Week


Now find your dream Dubai home using artificial intelligence

As Dubai’s real estate industry continues to ride high on investor confidence, a new player is disrupting the market by harnessing the power of artificial intelligence (AI) to connect property buyers with their dream homes.

Dubai boom sees Russian cash, high rents and reborn projects

Fourteen years after a financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects are finally showing signs of life as part of a new economic boom in the city-state.

Dubai developer Union Properties swings to $8m profit in 2022

Dubai-based developer Union Properties swung to profitability in 2022’s full financial year, driven by a surge in total sales amid a recovery in the emirate’s property market from the Covid-induced slowdown.

4-bedroom luxury penthouse at Dubai’s Palm Jumeirah leased in one of most expensive deals ever

 Luxury properties in Dubai are in high demand, a fact made evident with the latest leased deal for a residential property at Palm Jumeirah.

Emaar announces record property sales of AED 35.1 billion

Emaar Properties reported continued improvement in its property sales, growth in profitability and marked improvement in the performance of recurring revenue businesses in 2022.

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