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Monthly report

Dubai property market — May 2008

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

Sales1,902Registered in May 2008up275.1% vs a year earlier
Total valueAED 13.72BRegistered in May 2008Across 76 communities
Price per sqftAED 589/sqftMedian across May 2008up68.9% vs a year earlier
Sale priceAED 1.90MMedian across May 20080% sold off-plan

In a sentence

The Land Department registered 1,902 property sales in May 2008, worth AED 13.72B in total, across 76 communities. That is 275% more than the same month a year earlier.

The median sale was AED 1,900,000 at AED 589/sqft, 68.9% above the same month last year. 0% of sales were off-plan.

Al Thanayah Fourth was the busiest community with 422 registered sales, while Burj Khalifa took the most money at AED 2.27B.

Against the previous month, Al Thanayah Fourth rose 26% to 422 sales, while Palm Jumeirah fell 43% to 105.

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 May 2008, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Thanayah Fourth422+26.0%AED 1.14BAED 1.60MAED 354/sqft0%
Marsa Dubai421-31.4%AED 761.73MAED 1.10MAED 822/sqft0%
Wadi Al Safa 6214+0.5%AED 595.55MAED 2.22MAED 347/sqft0%
Al Thanyah Third198+20.7%AED 511.56MAED 950KAED 958/sqft1%
Al Ruwayyah162+5.9%AED 511.93MAED 899KAED 125/sqft0%
Palm Jumeirah105-43.2%AED 781.12MAED 4.65MAED 388/sqft0%
Al Warsan First89-29.4%AED 927.46MAED 10.22MAED 855/sqft0%
Burj Khalifa30+172.7%AED 2.27BAED 11.84MAED 1,035/sqft0%
Mirdif23+9.5%AED 174.39MAED 6.40MAED 593/sqft0%
Al Thanyah Fifth18-55.0%AED 116.99MAED 7.55MAED 755/sqft0%
Al Jadaf13-78.7%AED 280.56MAED 17.68MAED 1,500/sqft0%
Jabal Ali13+8.3%AED 99.77MAED 5.80MAED 144/sqft0%
Nad Al Shiba11+175.0%AED 225.39MAED 20.93MAED 450/sqft0%
Al Qusais Industrial Fifth10+11.1%AED 211.54MAED 19.69MAED 1,500/sqft0%
Hor Al Anz10-16.7%AED 64.22MAED 2.83MAED 1,143/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 2.27B30
Zaabeel SecondAED 1.18B1
Al Thanayah FourthAED 1.14B422
Al Warsan FirstAED 927.46M89
Palm JumeirahAED 781.12M105
Marsa DubaiAED 761.73M421
Trade Center FirstAED 670.00M2
Wadi Al Safa 6AED 595.55M214
Al RuwayyahAED 511.93M162
Al Thanyah ThirdAED 511.56M198

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
Palm Jumeirah105-43.2%
Marsa Dubai421-31.4%
Al Warsan First89-29.4%
Al Thanayah Fourth422+26.0%
Al Thanyah Third198+20.7%
Al Ruwayyah162+5.9%
Wadi Al Safa 6214+0.5%

The largest sales of May 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
29 May 2008Zaabeel SecondAkala Hotels and ResidencesDubai International Financial CenterLandExisting PropertiesNot specified138,466 sqftAED 8,500/sqftAED 1,176,961,000
12 May 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified586,391 sqftAED 942/sqftAED 552,441,000
26 May 2008Al Hamriya—BuildingExisting PropertiesNot specified63,920 sqftAED 6,571/sqftAED 420,000,000
12 May 2008Burj Khalifa—DownTown DubaiBuildingExisting PropertiesNot specified198,934 sqftAED 2,111/sqftAED 420,000,000
1 May 2008Trade Center First—BuildingExisting PropertiesNot specified10,000 sqftAED 34,000/sqftAED 340,000,000
20 May 2008Trade Center First—BuildingExisting PropertiesNot specified10,000 sqftAED 33,000/sqftAED 330,000,000
12 May 2008Burj Khalifa—DownTown DubaiBuildingExisting PropertiesNot specified198,934 sqftAED 1,583/sqftAED 315,000,000
14 May 2008Burj Khalifa—Business BayLandExisting PropertiesNot specified232,393 sqftAED 1,250/sqftAED 290,493,000
6 May 2008Al Thanyah Third—LandExisting PropertiesNot specified28,009 sqftAED 5,784/sqftAED 162,000,000
6 May 2008Al Khawaneej First—LandExisting PropertiesNot specified1,417,618 sqftAED 85/sqftAED 120,000,000

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.