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Monthly report

Dubai property market — February 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside February 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales9,300Registered in February 2023up52.1% vs a year earlier
Total valueAED 26.93BRegistered in February 2023Across 111 communities
Price per sqftAED 1,238/sqftMedian across February 2023up14.3% vs a year earlier
Sale priceAED 1.48MMedian across February 202352% sold off-plan

In a sentence

The Land Department registered 9,300 property sales in February 2023, worth AED 26.93B in total, across 111 communities. That is 52% more than the same month a year earlier.

The median sale was AED 1,479,746 at AED 1,238/sqft, 14.3% above the same month last year. 52% of sales were off-plan.

Al Barsha South Fourth was the busiest community with 1,009 registered sales, while Business Bay took the most money at AED 2.67B.

Against the previous month, Al Barshaa South Second rose 350% to 423 sales, while Hadaeq Sheikh Mohammed Bin Rashid fell 48% to 184.

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 February 2023, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Al Barsha South Fourth1,009+51.7%AED 937.20MAED 680KAED 1,054/sqft75%
Business Bay807-21.0%AED 2.67BAED 1.42MAED 1,980/sqft53%
Marsa Dubai721+35.3%AED 2.59BAED 2.65MAED 2,704/sqft44%
Wadi Al Safa 5506+81.4%AED 1.04BAED 2.13MAED 1,017/sqft78%
Al Hebiah Fifth454-17.8%AED 1.40BAED 2.27MAED 1,210/sqft0%
Al Yelayiss 2430+20.4%AED 544.74MAED 1.23MAED 964/sqft93%
Al Barshaa South Second423+350.0%AED 378.80MAED 860KAED 1,231/sqft98%
Al Merkadh392-23.9%AED 878.95MAED 1.33MAED 1,775/sqft65%
Al Khairan First378-35.4%AED 829.17MAED 2.09MAED 1,956/sqft77%
Burj Khalifa315-25.0%AED 1.12BAED 2.69MAED 2,520/sqft47%
Al Warsan First269+49.4%AED 149.94MAED 390KAED 587/sqft32%
Al Thanyah Fifth263-27.3%AED 532.03MAED 1.00MAED 1,016/sqft22%
Al Barshaa South Third255+133.9%AED 289.09MAED 594KAED 1,044/sqft79%
Jabal Ali First229-21.8%AED 407.75MAED 828KAED 934/sqft15%
Al Hebiah Fourth224+57.7%AED 1.20BAED 2.20MAED 1,076/sqft21%

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
Business BayAED 2.67B807
Marsa DubaiAED 2.59B721
Palm JumeirahAED 1.80B219
Al WaslAED 1.51B125
Al Hebiah FifthAED 1.40B454
Al Hebiah FourthAED 1.20B224
Burj KhalifaAED 1.12B315
Wadi Al Safa 5AED 1.04B506
Island 2AED 986.55M7
Al Barsha South FourthAED 937.20M1,009

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
Al Barshaa South Second423+350.0%
Al Barsha South Fifth171+194.8%
Al Barshaa South Third255+133.9%
Wadi Al Safa 5506+81.4%
Me'Aisem First145+72.6%
Al Yufrah 1117+67.1%
Al Hebiah Fourth224+57.7%
Al Barsha South Fourth1,009+51.7%
Al Warsan First269+49.4%
Hadaeq Sheikh Mohammed Bin Rashid184-48.5%

The largest sales of February 2023

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
14 Feb 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties9 B/R38,970 sqftAED 10,521/sqftAED 410,000,000
27 Feb 2023Al WaslDAMAC CITY 2Dubai Water CanalLandExisting PropertiesNot specified76,750 sqftAED 5,173/sqftAED 397,044,000
2 Feb 2023Business BayOne by BinghattiBusiness BayBuildingExisting PropertiesNot specified108,300 sqftAED 2,031/sqftAED 220,000,000
27 Feb 2023Business BayCANAL HEIGHTS 2Business BayBuildingExisting PropertiesNot specified61,701 sqftAED 3,375/sqftAED 208,246,000
9 Feb 2023Palm JumeirahCLUB VILLASPalm JumeirahVillaExisting Properties7 B/R26,033 sqftAED 7,030/sqftAED 183,000,000
27 Feb 2023Business BayCANAL CROWNBusiness BayLandExisting PropertiesNot specified45,498 sqftAED 3,699/sqftAED 168,282,000
27 Feb 2023Business BayCANAL CROWN 2Business BayLandExisting PropertiesNot specified45,463 sqftAED 3,691/sqftAED 167,811,000
27 Feb 2023Business BayCANAL HEIGHTSBusiness BayLandExisting PropertiesNot specified48,879 sqftAED 3,389/sqftAED 165,640,000
16 Feb 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,657 sqftAED 13,752/sqftAED 160,300,000
7 Feb 2023Business BayVela Viento by OmniyatBusiness BayBuildingExisting PropertiesNot specified97,177 sqftAED 1,609/sqftAED 156,312,304

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.