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Monthly report

Dubai property market — March 2008

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside March 2008. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales1,493Registered in March 2008up229.6% vs a year earlier
Total valueAED 7.23BRegistered in March 2008Across 68 communities
Price per sqftAED 467/sqftMedian across March 2008up52.9% vs a year earlier
Sale priceAED 1.50MMedian across March 20080% sold off-plan

In a sentence

The Land Department registered 1,493 property sales in March 2008, worth AED 7.23B in total, across 68 communities. That is 230% more than the same month a year earlier.

The median sale was AED 1,500,000 at AED 467/sqft, 52.9% above the same month last year. 0% of sales were off-plan.

Marsa Dubai was the busiest community with 566 registered sales, while Burj Khalifa took the most money at AED 1.17B.

Against the previous month, Marsa Dubai rose 49% to 566 sales, while Palm Jumeirah fell 27% to 80.

Sales by month

Price per square foot by month

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in March 2008, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Marsa Dubai566+48.6%AED 753.46MAED 699KAED 472/sqft0%
Al Thanayah Fourth187+367.5%AED 495.22MAED 1.76MAED 488/sqft0%
Al Ruwayyah141+403.6%AED 481.35MAED 1.15MAED 125/sqft0%
Al Warsan First112+387.0%AED 217.47MAED 430KAED 350/sqft0%
Wadi Al Safa 6111+270.0%AED 288.02MAED 2.37MAED 418/sqft0%
Palm Jumeirah80-27.3%AED 558.76MAED 4.65MAED 417/sqft3%
Al Thanyah Third59+25.5%AED 169.71MAED 1.00MAED 1,091/sqft0%
Jabal Ali Industrial First23+15.0%AED 605.27MAED 27.46MAED 1,350/sqft0%
Mirdif17-5.6%AED 119.54MAED 4.90MAED 490/sqft0%
Burj Khalifa16+166.7%AED 1.17BAED 67.94MAED 1,250/sqft0%
Al Thanyah Fifth14-36.4%AED 96.70MAED 7.67MAED 766/sqft0%
Al Warqa First14+16.7%AED 188.68MAED 12.95MAED 900/sqft0%
Hor Al Anz10-23.1%AED 44.10MAED 2.92MAED 1,172/sqft0%
Al Jadaf9-43.8%AED 159.50MAED 17.47MAED 1,500/sqft0%
Jumeirah Third8+166.7%AED 62.36MAED 6.50MAED 650/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
Burj KhalifaAED 1.17B16
Marsa DubaiAED 753.46M566
Jabal Ali Industrial FirstAED 605.27M23
Palm JumeirahAED 558.76M80
Al Thanayah FourthAED 495.22M187
Al RuwayyahAED 481.35M141
Al LusailyAED 343.75M1
Wadi Al Safa 6AED 288.02M111
Al Warsan FirstAED 217.47M112
Al Warqa FirstAED 188.68M14

Biggest movers

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

CommunitySalesChange
Marsa Dubai566+48.6%
Palm Jumeirah80-27.3%

The largest sales of March 2008

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
27 Mar 2008Al Lusaily—LandExisting PropertiesNot specified54,999,490 sqftAED 6/sqftAED 343,750,000
17 Mar 2008Burj KhalifaBURLINGTON TOWERBusiness BayLandExisting PropertiesNot specified96,323 sqftAED 1,200/sqftAED 115,588,000
12 Mar 2008Burj KhalifaEMPIRE HEIGHTSBusiness BayLandExisting PropertiesNot specified83,313 sqftAED 1,250/sqftAED 104,140,000
13 Mar 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified33,920 sqftAED 2,925/sqftAED 99,216,000
13 Mar 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified33,128 sqftAED 2,925/sqftAED 96,899,400
13 Mar 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified69,087 sqftAED 1,350/sqftAED 93,268,000
24 Mar 2008Burj KhalifaTHE COSMOPOLITANBusiness BayLandExisting PropertiesNot specified62,872 sqftAED 1,250/sqftAED 78,590,000
17 Mar 2008Burj KhalifaTHE MERTOPOLISBusiness BayLandExisting PropertiesNot specified55,242 sqftAED 1,410/sqftAED 77,892,000
24 Mar 2008Burj KhalifaIRIS CRYSTALBusiness BayLandExisting PropertiesNot specified55,633 sqftAED 1,250/sqftAED 69,542,000
12 Mar 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified73,268 sqftAED 906/sqftAED 66,344,000

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.