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Quarterly report

Dubai property market — Q1 2004

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside Q1 2004. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales673Registered in Q1 2004up54% vs a year earlier
Total valueAED 2.60BRegistered in Q1 2004Across 81 communities
Price per sqftAED 155/sqftMedian across Q1 2004up25.8% vs a year earlier
Sale priceAED 1.20MMedian across Q1 20040% sold off-plan

In a sentence

The Land Department registered 673 property sales in Q1 2004, worth AED 2.60B in total, across 81 communities. That is 54% more than the same quarter a year earlier.

The median sale was AED 1,200,000 at AED 155/sqft, 25.8% above the same quarter last year. 0% of sales were off-plan.

Mirdif was the busiest community with 56 registered sales, while Palm Jumeirah took the most money at AED 178.12M.

Against the previous quarter, Mirdif fell 2% to 56.

Sales by quarter

Price per square foot by quarter

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in Q1 2004, and how each moved against the quarter before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Mirdif56-1.8%AED 120.05MAED 1.41MAED 115/sqft0%
Hor Al Anz34+112.5%AED 24.56MAED 575KAED 244/sqft0%
Nad Al Hamar300.0%AED 26.76MAED 801KAED 55/sqft0%
Al Barsha Second29+16.0%AED 29.26MAED 900KAED 62/sqft0%
Al Satwa24-17.2%AED 22.79MAED 800KAED 320/sqft0%
Al Barsha Third22-26.7%AED 18.32MAED 893KAED 60/sqft0%
Al Waheda20+233.3%AED 14.69MAED 635KAED 208/sqft0%
Al Mararr17+88.9%AED 49.65MAED 1.73MAED 747/sqft0%
Al Manara16+45.5%AED 53.95MAED 2.45MAED 167/sqft0%
Al Mizhar First16-33.3%AED 21.06MAED 788KAED 59/sqft0%
Al Rashidiya16+128.6%AED 9.07MAED 460KAED 111/sqft0%
Al Twar Fourth16+433.3%AED 10.79MAED 585KAED 74/sqft0%
Jumeirah Third16+220.0%AED 44.76MAED 1.95MAED 190/sqft0%
Al Warqa Third14-22.2%AED 7.60MAED 540KAED 44/sqft0%
Um Suqaim Second14+16.7%AED 46.40MAED 1.60MAED 217/sqft0%

Where the money went

Ranked by total registered value rather than count — a different list, and the one that shows where capital actually landed.

CommunityValueSales
Palm JumeirahAED 178.12M3
MankhoolAED 165.95M9
Al KaramaAED 151.38M9
Oud MethaAED 130.00M1
Al MurqabatAED 123.99M9
Port SaeedAED 122.21M5
MirdifAED 120.05M56
Um Suqaim ThirdAED 101.79M9
Al Barsha FirstAED 69.02M5
Al RaffaAED 63.98M8

Biggest movers

Change in registered sales against the previous quarter. Limited to communities with at least 50 sales in both — below that a swing is noise.

CommunitySalesChange
Mirdif56-1.8%

The largest sales of Q1 2004

Each row links to its own register record, so any figure in this report can be traced to the transactions behind it.

Registered property transactions from the Dubai Land Department
DateCommunityProject / buildingTypeBedsSizePrice/sqftPrice
11 Feb 2004Oud Metha—BuildingExisting PropertiesNot specified61,323 sqftAED 2,120/sqftAED 130,000,000
2 Mar 2004Um Suqaim Third—BuildingExisting PropertiesNot specified444,999 sqftAED 150/sqftAED 66,750,000
17 Mar 2004Port Saeed—BuildingExisting PropertiesNot specified40,810 sqftAED 1,593/sqftAED 65,000,000
23 Mar 2004Palm JumeirahFAIRMONT PALM RESIDENCEPalm JumeirahBuildingExisting PropertiesNot specified199,608 sqftAED 300/sqftAED 59,860,740
23 Mar 2004Palm JumeirahFAIRMONT PALM HOTEL & RESORTPalm JumeirahBuildingExisting PropertiesNot specified199,608 sqftAED 300/sqftAED 59,860,740
23 Mar 2004Palm JumeirahFAIRMONT PALM RESIDENCEPalm JumeirahBuildingExisting PropertiesNot specified194,730 sqftAED 300/sqftAED 58,397,910
16 Mar 2004Mankhool—BuildingExisting PropertiesNot specified20,000 sqftAED 2,800/sqftAED 56,000,000
6 Jan 2004Trade Center First—LandExisting PropertiesNot specified10,000 sqftAED 5,000/sqftAED 50,000,000
21 Jan 2004Al Murqabat—BuildingExisting PropertiesNot specified15,411 sqftAED 3,244/sqftAED 50,000,000
14 Jan 2004Al Karama—BuildingExisting PropertiesNot specified45,046 sqftAED 1,110/sqftAED 50,000,000

Source: Dubai Land Department open data, retrieved from the Digital Dubai data.dubai platform. Figures cover registered transactions and Ejari-registered tenancy contracts, and are statistical summaries of public record — not a valuation of any individual property. Registration data can be amended or backdated by the source after first publication.